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Interest Has Become Interesting Nov 9, 2018
In this edition, we discuss the impact of rising interest rates and how they relate to our portfolio and the overall economy. We also discuss the behavioral pitfalls that investors face in an aging bull market. Finally, we discuss geopolitical issues that challenge today's investor.
 
Stembrook Market Review - Third Quarter 2018 Oct 22, 2018
In this market review, we discuss the impact of rising interest rates and the benefits of a defensive fixed income portfolio.
 
Stembrook Market Review - Second Quarter 2018 Jul 31, 2018
In this market review, we discuss the continued growth of the global economy and relative valuations of U.S. and non-U.S. markets.
 
Stembrook Market Review - First Quarter 2018 Apr 20, 2018
In this market review, we discuss recent volatility in equity markets and study the magnitude of the selloff in a historical perspective. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Fourth Quarter 2017 Jan 22, 2018
In this market review, we discuss the recent stability in equity markets and the strength of global corporate earnings growth. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Third Quarter 2017 Oct 17, 2017
In this market review, we discuss the dispersion in global valuations and make the case for investment opportunities in equity markets outside of the United States. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Second Quarter 2017 Jul 14, 2017
In this market review we discuss the length of the current bull market in the United States, the upside potential for global earnings growth and actions we are taking to shift our exposure to equities with lower valuations. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - First Quarter 2017 Apr 25, 2017
In this market review we focus on the relative attractiveness of non-U.S. equity valuations and the potential for growth in these markets. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Fourth Quarter 2016 Jan 26, 2017
In this market review we focus on the December Federal Open Market Committee announcement and feature a case study on rising interest rates and the impact on bond prices. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Third Quarter 2016 Oct 13, 2016
In this installment, we focus on global equity valuations and performance over the last 20 years. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Market Review - Second Quarter 2016 Jul 20, 2016
In this market review, we recap the Brexit vote and outline prospects for global economic growth and inflation. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Brief - Recent Market Volatility - Brexit Jun 24, 2016
This brief provides a primer on the UK's decision to leave the European Union. The immediate market reaction and long-term investment implications of the referendum are discussed.
 
Stembrook Market Review - First Quarter 2016 Apr 19, 2016
In this market review, we discuss the drivers of intra-quarter volatility. In a study of historical annual drawdowns, we show that this volatility is to be expected. In addition, we briefly review market-related events of the last quarter and preview our current portfolio positioning.
 
Stembrook Brief - Recent Market Volatility - MADE IN CHINA Aug 25, 2015
This brief outlines the causes of the recent market turmoil and includes a short discussion of how we view markets through the lens of our investment research.
 
Ever Tried to Push a Car? How About a String? Dec 23, 2013
In this edition, we discuss the U.S. economic recovery in light of global events, Fed stimulus and U.S. politics. We present evidence that the Fed's plan to taper and the subsequent rise in interest rates does not preordain weak future equity returns. This discussion is followed by a review of our portfolio positioning based on current economic and market factors.
 
Keels, Steals and No Deals Jun 20, 2013
In this edition, we discuss key portfolio risks that all investors should avoid, what's attractive in today's market environment, and how recent decisions in Washington are impacting our portfolio investments and our global outlook.
 
Investment Options in a Low Yield Environment Sep 5, 2012
We review the options available to investors seeking income in a low yield environment and analyze the expected behavior of these investments in various market scenarios.
 
What If the World Turned "Normal" Tomorrow Apr 30, 2012
In this edition, we discuss our investment strategies and portfolio positioning. We also explore how a normalization of interest rates may impact the value of investment assets and home prices.
 
A Crisis of Confidence Does Battle with Fundamental Investing Nov 3, 2011
A discussion of how a loss of confidence is driving down prices and creating opportunities for fundamental investors.
 
A Brief Tour of Our Portfolios Jun 28, 2011
A brief overview of the various asset classes held in our portfolios and our reasoning for holding each, in light of the current economic and market environment.
 
Managing Risks in a Global Recovery Feb 17, 2011
A new holding that helps to reduce the risk of rising rates in our bond portfolio, our latest research into the municipal bond market, and how we are positioning the portfolio for 2011 and beyond.
 
The Pendulum Swings: Paying More For Less in the Bond Market Sep 20, 2010
Two key drivers of future returns currently point to higher equity returns and lower bond returns over the next ten years. Also, a brief review of our take on other asset classes and resultant changes to our portfolios.
 
Trimming Our Sails for Long-Term Growth Mar 1, 2010
An update on our current portfolio positioning, comments on overcoming the behavioral pitfalls of investing, and how we are addressing the risk of future inflation.
 
Roth IRA Conversion - Should I or Shouldn't I? Nov 11, 2009
Next year, the Roth IRA will be accessible to investors in higher income brackets. This creates an opportunity for some investors to increase the value of their retirement accounts. In this special commentary, we lay out the ground rules for conversion to a Roth IRA, outline the potential benefits, and provide a few rules of thumb.
 
Holding Our Course Sep 11, 2009
An overview of our outlook on the market, an example of our research in action, and a brief lesson in the math of market performance.
 
An Eye Towards the Future May 5, 2009
A look at investment opportunities presented by the recent financial turmoil.
 
A Little Perspective Oct 16, 2008
Casting light on the recent financial turmoil from a historical perspective.
 



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