By now, most have heard of the U.S. Department of Labor’s new Fiduciary Rule. Because of all the uncertainty surrounding the Rule, “fiduciary” has become something of a dirty word in the financial services industry. Like a four-letter word, some […]
Author: Alan Hartley, CFA of Black Cypress Capital
Private Equity Looks Set To Disappoint
Over the last three or four months, we’ve received countless in-bound calls from consultants and third-party managers offering access to late-stage venture capital and traditional private equity (PE). We view these unsolicited pitches and others like them as anecdotal signs […]
Don’t Be The Next Victim Of Cybercrime
Around 10pm on February 2, 2017, a finance department employee at Asbury Communities, Inc., a Maryland-based company that manages retirement communities in four states, received an email requesting W-2 forms for all the company’s employees. The email came from the […]
A Perspective On Market Momentum
Since the S&P 500 stock market index bottomed in early 2009, stock markets have averaged total returns of nearly 20% per year. At the apex of market panic, where the last holdouts finally capitulated and sold their investments on March […]
What’s All The Fuss About The New Fiduciary Rule?
You have probably read numerous headlines, articles, and news stories about the new “Fiduciary Rule,” a law set to go into effect April 10th this year. But what is it and how will it affect Black Cypress and the average […]
Managing Your Family’s Wealth Without Spoiling The Heirs
In the classic 1971 film Willy Wonka & The Chocolate Factory, five children win a tour of a mysterious recluse’s candy factory. One of those children, Veruca Salt, is a demanding child and has clearly been spoiled by her wealthy […]
![By U.S. Government [Public domain], via Wikimedia Commons](https://d2wsh2n0xua73e.cloudfront.net/wp-content/uploads/2017/03/Securities-And-Exchange-Commission-270x200.png)
Cybersecurity: Trust, But Verify
The Problem of Cybersecurity As the use of technology in the investment industry increases, so too do the opportunities for criminals to take advantage of that technology. In 2014, the FBI’s Internet Crime Complaint Center received 269,422 complaints with an […]
Times Are Ripe For Active Management
Times Are Ripe For Active Management Summary U.S. stock indexes are trading at or above valuation extremes The U.S. economy still has considerable economic slack Value-oriented “active” stock selection should thrive On just about every valuation metric, U.S. stock indexes […]
Competing Without a Coach: Why Passive Investors May Be Disappointed
“Competing Without a Coach: Why Passive Investors May Be Disappointed”Alan Hartley, CFA Summary Global growth expectations are tepid Interest rates are plumbing all-time lows Low interest rates are driving U.S. stocks higher Valuations are stretched Long-term future returns are expected […]
For Investment Success, Forget Your Opponents; Focus on Par
2015 was one of the most challenging years we’ve faced as a value-oriented manager. Our investment style, broadly classified under the banner of value investing, was out of favor during the year and suffered almost double-digit underperformance compared to growth […]
