Yesterday Apple announced something rare, a stock split. In an era of zero commissions and fractional share purchases, stock splits are disappearing.... Read More
Three-year forward earnings estimates may deviate far from reality around recessions, but a 3-year forward PE ratio may make more sense when attempting to gauge where valuations may be after the pandemic.... Read More
Over the past three months the NASDAQ has returned as much as 12.37% more than the S&P 500, setting a level of outperformance rarely seen.... Read More
The stock market is its most top-heavy in decades.... Read More
U.S. equity issuance grew by a net $320 billion in the first quarter.... Read More
Domestic equity funds with the lowest fees saw the large majority of inflows in 2019, while funds with high fees saw outflows.... Read More
Equity ETFs accounted for 26% of stock market volume in the U.S. in 2019.... Read More
Nearly all of the stock market's gains are coming overnight.... Read More
The stock market is its most top-heavy in decades.... Read More
Since the mid-February high in the S&P 500, individual stocks have become highly correlated to the overall index, providing very little differentiation and opportunity for outperformance.... Read More
Last week's stunning stock market rally pulled the market to a 50% retracement of the previous decline. Sentiment has turned more positive, with many thinking the March 23 bottom will mark the bottom for the bear market. We continue to believe these are signs of a bear market rally.... Read More
U.S. equity issuance grew by a net $29 billion in the fourth quarter.... Read More
Some historical perspective on stocks' decline this past week... Read More
U.S. equities have outperformed global ex-U.S. stocks by almost 11% since the beginning of 2019.... Read More
The S&P 500's streak of consecutive days without a 1% down day came to an end on Monday.... Read More
Vice stocks outperformed the market for almost two decades. Recently, that trend came to an end.... Read More
A correction back to the 200-day moving average requires a 10%+ correction. From a technical standpoint such a move would keep the bull market intact, but it could provide plenty of theatrics in an election year.... Read More
In the 50 days ending January 3, the average correlation of an S&P 500 stock to the index itself stands at just 0.16.... Read More
U.S. equity issuance shrunk by a net $598 billion in the second quarter, as buybacks and mergers outpaced IPOs.... Read More
With total return data for the S&P 500 going back to 1988, only four years posted better returns through this point of the year - 1989, 1995, 1997 and 2013.... Read More