Our Thinking

The Dow Jones Industrial Average (“DJIA”) reached another milestone last month when it crossed over 40,000 for the first time in its 128-year history.

Interest in investing in certain themes has grown with the proliferation of exchange-traded funds (“ETFs”). Climate change is a broad investment theme that has spawned clean energy ETFs and an array of sub-theme ETFs including solar, water and batteries. A review of clean energy experience may be informative for assessing the general role of theme investing.

Investors have ventured from home markets over decades, but often to other markets with highly developed economies, property rights and rules of law. A review of how markets have emerged may be informative for investing ahead.

Japan has long been called the “land of the rising sun”. For decades, however, its economy and stock market have failed to rise in step with the U.S. A review of key variables may be informative for investment strategy ahead.

Investors generally benefit from markets reaching new highs, particularly if they have exercised discipline to stay invested through lows and highs. A review of recent market cycles may be informative for investment strategy ahead.

A review of concurrent presidential election year events may be informative for investment strategy ahead.

The goal for investors supporting retirement living through portfolio withdrawals is to achieve a spending rate that neither falls short over time nor results in a constrained quality of life along the way.

A review of some stock size characteristics can provide perspective for investing ahead.

A review of bond yield trends and the mechanics of the bond investment itself can provide perspective for investing ahead.

The pandemic brought a jumble to all facets of life. Financial markets reacted as expected, first pulling back with higher risk and then recovering on the backs of policy initiatives around the world. A review of some key relationships can provide perspective for economic activity and investing ahead.