The financial media has recently begun to focus on the ongoing rotation from U.S. growth stocks to U.S. value stocks. Specifically, a rotation out of high valuation, momentum growth companies. It’s interesting to note this rotation actually began to occur quietly in September – something we’ve been anticipating for a number of months now. In … Continue reading The Rotation from Growth to Value
We examine four possible Presidential election outcomes and the effect on our portfolios. Every four years, as the presidential election approaches, there is typically a certain level of anxiety investors feel. The anxiety revolves around the uncertainty inherent with any election. The usual worries being: Who will win? What will be the agenda for the … Continue reading Managing Portfolios During the Most Unique Election of Our Time
In this article we examine the interplay of markets, the economy, and volatility. Layoffs. Bankruptcies. Vacancies. Despite persistent negative economic news, financial markets have rallied. This disconnect can cause confusion. How can these two dynamics take place at the same time? Confusion can lead to fear. In fact, one measure of individual investors’ fear of … Continue reading Early Cycle: Disconnects and Volatility
A prescription for year-end financial planning. Welcome to October 2020, month seven in what some are calling the New Abnormal. Like many people, I’m growing a little tired of my four walls, and I continue to be grateful for the active bird and insect life in the trees outside my window. And like others, I … Continue reading Tax in the Time of COVID
The Federal Reserve announced a significant change in policy during the quarter. The biggest news during the third quarter for credit markets came in late August with Fed Chairman Jerome Powell announcing a change in Fed policy. Going forward, the Fed will focus on “symmetrical inflation targeting,” a fancy way of saying the Fed will … Continue reading Credit Markets: A New Policy Paradigm
Regardless of who wins the presidential election, tax rates are likely to increase. The election in November may prove to be one of the most consequential in modern history. With all of the problems we currently face – the pandemic and resulting economic recession, social unrest and the national discussion on long-festering racial tensions, the … Continue reading Election 2020: Where Do We Go from Here?
In this article, we discuss the long-term advantages of being a style agnostic manager. The investment management industry tends to assign labels to firms, placing them in various “style boxes.” Firm A may be a “growth manager” while firm B is a “value manager.” These various style boxes perform well during certain periods when their … Continue reading Is Osborne Partners a Growth or Value Manager? Yes.
After years of strength, is the U.S. dollar poised for a fall? The U.S. dollar has been in a sustained uptrend over the past decade, contributing to persistent underperformance across numerous asset classes but most acutely affecting both foreign equities and natural resources.1 Given the U.S. dollar’s position as the global reserve currency, there are … Continue reading U.S. Dollar: What Goes Up, Must Come Down?
On occasion, accelerating income taxes can make sense. For many people, the confluence of the global pandemic and subsequent economic recession has potentially caused the following: employment termination, reduced hours, work furloughs, the elimination of RMDs for 2020 (the CARES Act), and significantly less capital gains due to the precipitous drop in the stock market. … Continue reading Financial Planning Tax Tips in 2020
For the first time in history, the Fed is buying corporate bonds. Credit markets participated in the overall market recovery in the second quarter, thanks in large part to the actions of the Federal Reserve. All categories of bonds showed positive returns in the second quarter. The Fed was successful in averting a credit crisis … Continue reading Credit Markets: Thanks to the Fed
