Featured Journal Entry

Q2 EARNINGS: MUDDLING THROUGH

Second quarter earnings season gets rolling this week. Consensus estimates are calling for a modest year-over-year decline in S&P 500 Index earnings amid the downshift in U.S. and international economic growth, tariffs, and ongoing trade tensions. Quarterly earnings almost always beat quarter-end consensus estimates — this quarter...
Read More

Journal Entries

EARNINGS ARE ALL ABOUT 2020
Earnings growth was largely absent in 2019, but we expect it to pick up in 2020. With stock valuations elevated, we think earnings hold the key to pushing stocks higher this year. We preview fourth quarter earnings season and share our thoughts on...
Read More
ASSESSING GEOPOLITICAL RISK
The United States’ airstrike January 3, 2020, near Baghdad, Iraq, that killed a top Iranian military general was a major escalation in Mideast tensions. Iran’s retaliatory strike January 8 sent a message, but additional responses can’t be ruled...
Read More
LESSONS FROM THE PAST DECADE
As we begin 2020, we’ve had a chance to reflect on what was an unprecedented decade for financial markets. The 2010s taught long-term investors two important lessons: to ignore short-term market noise and to be prepared for volatility. It was a...
Read More
2019 HITS AND MISSES
2019 was a difficult year to forecast after 2018 ended with the worst December since the Great Depression. While our positive stock market outlook proved too conservative, we are pleased to report we got more right than wrong for 2019. Here we recap...
Read More
PROFIT GROWTH KEY FOR 2020 STOCKS
Clarity from the phase-one trade deal with China and United Kingdom election results could help shift stock market performance drivers more toward investing fundamentals in 2020. We expect stocks to appreciate in line with earnings growth next year,...
Read More
BETTER DAYS AHEAD FOR BONDS
2019 was a baffling year for bonds. The 10-year U.S. Treasury yield fell to a three-year low, and the yield curve flashed ominous signals about the economic outlook. We’ve seen some improvement in long-term yields since the September low, but we...
Read More
1 2 3 28
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram