Bill Bernstein: Take Some Risk Off the Table

“And if you’re like me, you like leaning even more against the wind, so that when you see valuations like this, you want your equity allocation to be less than it was two years ago. So if you were 55 percent/45 percent two years ago, maybe today you want to be 45 percent/55 percent or Read more about Bill Bernstein: Take Some Risk Off the Table[…]

Recognizing the Valuation Bubble in Equities

An interesting, if technical, “open letter to the FOMC” from John Hussman of Hussman Funds. “The unfortunate situation is that while the required financial adjustment may or may not be as brutal for investors as in 2007-2009, or 2000-2002, or 1972-1974, when the stock market lost half of its value from similar or lesser extremes, Read more about Recognizing the Valuation Bubble in Equities[…]

US Inflation and the Returns in Global Stock and Bond Markets

“This study examines the relation between US inflation and the returns on stock and bond indices. The indices include both US and world ex-US versions. The non-US indices are included to assess the extent to which securities in other countries have been impacted by US inflation. The results indicate that the link between US inflation Read more about US Inflation and the Returns in Global Stock and Bond Markets[…]