The Power of Quality Investing

While it is intuitively easy to understand that quality companies outperform in the long run, factors that fall in the Quality category often get less attention than the more popular Value and Growth factors. As we head into a slowing economy and possibly a recession amidst an inflationary environment, quality factors once again deserve the attention of investors.

Opportunity Knocks or Prolonged Pain for Stocks?

Opportunity Knocks or Prolonged Pain for Stocks?

Since the initial resolution of the European Sovereign debt crisis in 2012, many boutique managers have rated Eurozone equities as a particularly attractive risk/reward opportunity. The initial premise was related to profit normalization. Compared to their European counterparts, the Fed and U.S. government reacted faster and more aggressively to the Great Financial Crisis.

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U.S. Fixed Income: Q2 2022 Update

U.S. Fixed Income: Q2 2022 Update

We open another quarterly commentary with a discussion of just how bad the quarter was for fixed income markets. At the same time, however, a host of metrics suggest that many fixed income valuations are as attractive as they have been in several years. While we think caution and patience are the operative words in the spread sectors, we note some extreme dollar price drops given the movement in both rates and risk premia over the course of 2022.

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The Russian Nesting Doll of International Value Returns: Why Your Value Manager(s) Might Disappoint You in a Value Market

The Russian Nesting Doll of International Value Returns: Why Your Value Manager(s) Might Disappoint You in a Value Market

Q1 2022 saw the largest one quarter outperformance of international value in twenty years, and yet 93% of international value managers underperformed the international value benchmark.1 While the disruption of commodity markets from the invasion of Ukraine led to outsized returns in commodity sensitive stocks …

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