Category: Economy


Global Giants

Content Provided by Konstantin (Kostya) Etus, CLS Associate Portfolio Manager International investing has been a recurring topic in financial news recently, and many institutions have released white papers on its benefits. Much of this heightened coverage can be attributed to this year’s strong performance of international markets versus that of the U.S. International markets have...

It’s Time to Raise Rates!

Content provided by Marc Pfeffer, CLS Senior Portfolio Manager While the Federal Reserve (Fed) still seems to be shying away from raising interest rates at its next meeting in June, calls are coming from many regional Fed leaders to act quicker. James Bullard, president of the Federal Reserve Bank in St. Louis, warned recently of...

How Low Can Oil Go?

Content provided by Kostya Etus, CLS Associate Portfolio Manager One of the hottest topics in the markets lately has been oil prices. Questions like “Where is oil headed?” have become part of daily conversations and plagued news headlines. I think it is important to cut through the noise, take a step back, and evaluate the...

Are Commodities…Dead?

Content provided by Grant Engelbart, CFA – CLS Portfolio Manager Not surprisingly, commodities have been one of the worst performing asset classes over the past several years.  Headline grabbers such as oil and gold have lost their respective luster, and others have followed suit.  A combination of factors has driven prices lower, most recently the...

Fed is Losing Patience, But Won’t Be Impatient

Content provided by Marc Pfeffer, CLS Senior Portfolio Manager The Fed is losing patience, but they won’t be “impatient” … That is essentially how Fed Chair Janet Yellen began the Federal Open Market Committee’s (FOMC) news conference on March 18. While there was much market chatter leading up to the conference, the most significant announcement...

It’s About Closing the Gap

Content provided by Rusty Vanneman, CFA – CLS Chief Investment Officer As investment advisors and counselors, our job/mission/calling is to close the gap — the behavior gap. The behavior gap is the reason most investors’ portfolio returns don’t even come close to achieving market returns. Their emotions (such as fear and greed) have them chasing...

Don’t Confuse Brains With a Bull Market

Content provided by Paula Wieck, CLS Manager of Investment Research/Portfolio Manager I had the opportunity to speak to several advisors last week about their businesses.  A couple of these conversations resonated with me, particularly because this subject has come up frequently. One advisor’s client was contemplating whether or not to relieve him of his services...

Chasing Disappointment

Content provided by Josh Jenkins, CLS Associate Portfolio Manager Last month, Portfolio Manager Grant Engelbart contributed to this blog, an entry titled Emotional Volatility. In it, Engelbart advocated a pragmatic approach to managing ones wealth. One that ignores the endless volume of market noise and the visceral and often illogical decisions it promotes.  Instead, he...

Emotional Volatility

Content provided by Grant Engelbart, CFA, CLS Portfolio Manager My father recently asked me about an email he received promoting a “special newsletter.”  You know the kind – “The Dow Will Plummet to 6,000! – subscribe now and save yourself!” These type of doomsayers have always been around, except they become particularly loud at points...

Bulls, Bonds, and Free Lunches

Content provided by Josh Jenkins Q: About a year ago, analysts predicted the bull market in bonds was over. But today, CLS says it is still intact. What changed? Going into 2014, I think the expectations on Wall Street were definitely for an increase in interest rates moving forward. During 2013, when the Fed began...