The Impact Of Cycles On Equal-Weighted And Market-Weighted Portfolios
It is fairly common knowledge in financial circles that equal-weighted portfolios tend to outperform portfolios weighted by market capitalization, whether … Read more
It is fairly common knowledge in financial circles that equal-weighted portfolios tend to outperform portfolios weighted by market capitalization, whether … Read more
Next month marks the beginning of the 1997 Asian financial crisis, which saw the equity markets of several nations plunge … Read more
It is strange to contemplate, but we are now just a few months removed from the tenth anniversary of the … Read more
In “Relative Equity Valuations, Diversification, and Creative Destruction,” I argued that one of the main attributes of the U.S. equity … Read more
I have written a few times why comparing valuation metrics for the U.S. equity market and most others around the … Read more
Going back to December of 1974, value stocks have outperformed growth stocks by an average of more than 200 basis … Read more
The 20th century ended with a bang with U.S. equities peaking on March 24th, 2000 with the apex of the … Read more
Going back to December of 1970 (the earliest for which I can find data), the Wilshire 5000 total return index … Read more
The trend toward “passive” investing – by which I mean investing in low-cost index-type funds that own broad swathes of … Read more
Of Dollars and Data shared an interesting post titled, “Bad Investment Results? Your Birth Year May Be to Blame: How … Read more
In his latest quarterly letter, GMO’s always interesting Jeremy Grantham lamented the refusal of U.S. equity valuations, and the stubbornly … Read more
Because the American equity markets have enjoyed an abnormally long period, – historically speaking, – of relative outperformance versus the … Read more
As an adviser who allocates a large portion of client assets to low-cost index-type ETFs, and who manages a fair … Read more
Last week, I discussed how the key factors of diversification and dynamism explain, if not justify, the premium valuation that … Read more
Fascination with the stock market has become a national obsession, not least because the financial well-being of the majority of … Read more