Category: Investing

17
Oct

Millennials Ruin Everything

Content Provided by Michael Hadden – Investment Research Analyst Seriously. Just go online and look. In fact, this article cites 70 different things millennials have “killed,” an impressive feat for a generation spanning the ages of 22 to 37. So, if millennials are so great at destroying things we know and love, are they also...
21
Sep

ESG Investing: Myths and Truths

Content Provided by Kostya Etus, CFA, Portfolio Manager Col. Jessep: You want answers? Kaffee: I WANT THE TRUTH! Col. Jessup: YOU CAN’T HANDLE THE TRUTH!! – A Few Good Men (1992) ESG (environmental, social, and governance) investing has been a hot topic lately. Asset growth has reflected this, picking up over the last couple of...
07
Sep

The Pitfalls of “Resulting”

Content provided by Joe Smith, CFA, CLS Senior Market Strategist Focusing only on results can lead to hindsight bias. Outcomes should always be evaluated relative to the quality of the initial decision. At CLS, our decision to overweight international stocks has solid footing in data and research. As a portfolio manager, I generally have a...
04
Sep

Happy Birthday, Warren

Content provided by Grant Engelbart, CFA, CAIA, Senior Portfolio Manager & Co-Director of Research Warren Buffett turned 88 years old on Thursday, August 30. Quite possibly the most famous value investor of all time, Buffett took control of Berkshire Hathaway in 1965 (“that is, when current management took over”). Since then, the company has transformed...
10
Jul

Sir John Templeton: The Humble Approach

Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer One of the most important days in my development as an investment manager occurred in the spring of 1987. It was during my undergraduate days at Babson College. It was Founder’s Day, which is Babson’s oldest tradition, a day established to recognize the school’s...
06
Jul

The Rock Stars at CLS Investments

Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer When I was at Fidelity Investments (FMR Co) back in the 1990s, legendary investor Peter Lynch had moved on, but the culture he helped create, one fully dedicated to active management and high performance, was still in place. Fidelity hired the best and brightest...
29
Jun

Behind the (Research) Curtain

Content provided by Grant Engelbart, CFA, CAIA, Portfolio Manager There are five areas of analysis we utilize to review investment ideas (see our Risk Budgeting White Paper pages 9-10). To help our readers understand these analyses and our investment processes, let’s take a look at a real life example applicable to many, if not all,...
13
Jun

Why the Destination is Highly Dependent on the Journey

“Life is a school of probability.” — Walter Bagehot Content Provided by Joe Smith, CFA – Senior Market Strategist What will the markets return in the next 12 months? Should investors expect 20% gains per year in the future? Will the markets correct by more than 10% in the next six months? We frequently encounter...
11
Jun

Reason #29 Not to Use Stock-to-Bond Ratios to Manage Risk

Income-Based Portfolios Which portfolio would you expect to be riskier? A or B? Or, put another way, which portfolio would you expect to be more volatile?   Tough call, isn’t it? They both look very similar in terms of stock-to-bond ratios. Let’s call it a wash — they both hold the same risk. How about...
07
Jun

Return Drivers of Commodities

Content Provided by Jackson Lee, CFA, Quantitative Investment Research Analyst “Be Creative” is a new CLS Investment Theme that was introduced the beginning of this quarter. To recap its introduction, “Be Creative” means CLS will add more exposures to asset classes such as alternative and real assets. The benefits of investing in these segments rather...