Timely investment themes informed by deep historical research
I've recently been exploring the world of micro cap stock investing. You don't hear much about this space except from the occasional banner ad promising a 10,000% return in a week by buying penny stocks. So I think micro cap gets a bad wrap. This is the first installment in a series on micro cap stocks. This area of the market is a playground for disciplined investors that believe in the power of factors.
Read MoreAnyone in the investment industry not living under a rock has had an intense conversation with a client about the merits of passive exposures in investment portfolios. The cacophony of articles on this topic is both silent and deafening. Most include little proof for assertions of market efficiency and parrot a conglomeration of statements parsed from other articles. As a result, passive investors improperly forego dramatically higher potential returns for seemingly low cost market exposure.
Read MoreMassive amounts of wealth are seeking equity income from a limited opportunity set. Valuations are rising. ETFs are faddish. Rates are poised to go up. I present five words of caution and make four suggestions for equity income investors.
Read MoreA search for all equity ETF's available to U.S. investors in Bloomberg leads to a list of 969 candidates, a surprisingly large number of options for a relatively new investment vehicle. With investors seeking alternative income solutions in a low rate environment, most may be surprised to find that the perception of choice among ETF's is a mirage.
Read MoreThere is one trend in particular that I have been watching—the relationship between bond yields and equity valuations. Traditionally, there is a somewhat positive relationship between the two, but massive monetary policy intervention has thrown everything out of whack.
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