Active managers often call this the most hated bull market in history. This is simply not true. The reality is the public likes the stock market. They are just moving away from active managers.... Read More
The value of a few technology companies is increasing at the expense of legacy businesses.... Read More
The pain in financials continues. And while the flattening U.S. yield curve is certainly one reason for the slide, financials worldwide are doing worse than the U.S. banks.... Read More
Back in May, we highlighted how the stock market continues to coil around a 10% without recovering to a new high. We are now 107 trading days since the late January peak. Only 1994/1995 correction went longer without turning into a full-blown bear market (20+% correction). The longer the market goes without recovering to a new high the more we fear the oldest story in finance is still playing out. The Fed is at risk of hiking too much, inverting the curve and sending the stock market lower.... Read More
A shift in ETF investor preferences favors small caps and non-cyclical sectors, but we still don't see definitive signs of risk-off flows. ... Read More
A breakdown of U.S. equity ownership and net issuance... Read More
Retail stocks have soared since the end of May.... Read More
Returns on stocks with large foreign revenues have outpaced those with large domestic revenues since mid-2016. Interestingly, this pattern of outperformance has not turned that much given the dollar's strength in the last few months.... Read More
February's volatility may have taken some wind out of the sails of stock bulls, but bullish sentiment is slowly gaining momentum once again.... Read More
A look at the size of world stock markets... Read More
A look at stock total returns in 2018... Read More
Stocks' decline in February and March put a damper on sentiment, but investors are nowhere near outright bearishness.... Read More
A glimpse at the some of the biggest companies by market cap since 2000... Read More
Consumer staples ETFs are now the worst performing sector funds over the past 12 months. The outlook is brightening for parts of the sector though. Relief from rising interest rates may be a catalyst for outperformance. ... Read More