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Building an Investment Checklist

By John P. Reese In this year’s letter to Berkshire Hathaway shareholders, Warren Buffett refers to the conglomerate’s “gradual shift from a company obtaining most of its gains from investment activities to one that grows in value by owning businesses.” An article in the Wall Street Journal last month titled, “Warren Buffett’s Berkshire Moves Away from Stock […]

Rotation Out of Bonds Might Be Coming

The probability that funds will flow into equities “at the possible expense of debt” is increasing, despite forecasts to the contrary. This according to Credit Suisse Group AG, reported in a recent Bloomberg article. Robert Griffiths, an equity strategist based in Credit Suisse’s London office, told Bloomberg, “The increase in total returns from stocks, if […]

The Fed Could Cause Market Disruption

In an article in last month’s Barron’s, Tocqueville Management Fund chairman John Hathaway shares his firm’s belief that “the Fed’s view of economic activity is not rooted in reality and that its stubborn pursuit of interest rate hikes is likely to precipitate a bear market in equities and bonds.” Hathaway, senior portfolio manager of the […]

Housel on How to Stay Rich

In a bull market, stocks become expensive and stretched valuations leave little margin for error, writes Morgan Housel earlier this year in an article for the Collaborative Fund. This increases the chances that the bull market will end. “People and companies, whose behaviors are changed by their own success, are vulnerable to the same cycles,” […]

Barry Ritholtz: Market Performance Isn’t Due to President

In a recent Bloomberg article, the co-founder and chief investment officer of Ritholtz Wealth Management debunks the notion that the stock market’s record performance is tied to hopes around the president’s policy agenda. Ritholtz argues, “First, there is the tendency of the markets to ignore the dysfunction in Washington—as they have for most of the […]

Insights on Owning Gold

In a recently published article in Advisor Perspectives, Robert Heubscher interviews First Eagle Investment’s Thomas Kertsos to gather the research analyst’s insights around owning the precious metal. Here are some highlights: Current trends in the gold market: “We see that the Fed communications about rate hikes and election outcomes continue to be significant drivers of […]

Gross on Threats to Economy Going Forward

The quantitative easing that has occurred in the post-Lehman era has led to a situation, writes fund manager Bill Gross in a recent Barron’s article, where central bank balance sheets are replete with equities “in a desperate effort to keep global economies afloat.” Concurrently, he argues, more than $5 trillion of investment grade bonds “trade […]

Bill Miller’s Fund is Top Stock-Picker

The winner of the quarterly Wall Street Journal Winner’s Circle contest—which identifies the U.S.  stock fund with at least $50 million in assets (and a record of more than three years) that posted the best performance in the trailing 12 months—is Baltimore-based Miller Opportunity Trust led by Bill Miller and Samantha McLemore (both formerly of […]

Nuveen’s Doll Says Earnings Are Bolstering Market

Earnings are fueling the current market climate, according to Nuveen chief equity strategist Robert Doll’s recent Barron’s article. Doll shared the following insights: Following what he refers to as a “soft patch,” Doll says recent economic indicators have trended positive–including positive housing starts and continued tightening in the labor market. The consumer sector of the […]