4 mins

The Need for Tactical Solutions Across Generations: Baby Boomers

This is the third part in a four part series exploring the usefulness of tactical strategies across generations.  The first two parts of the series focused on Millennials and Generation X, respectively.  Today, we will discuss Baby Boomers.  Our one-pager on Baby Boomers can be found here. When it comes to stock market crashes, the ...

2 mins

The Need For Tactical Solutions Across Generations: Generation X

This is the second part in a four part series exploring the usefulness of tactical strategies across generations.  The first part in the series focused on Millennials.  Today, we turn our focus to Generation X.  Our one-pager on Generation X can be found here. As a whole, Generation X is facing significant financial difficulties.  Individuals ...

4 mins

Replicating LDI Indices with Fixed-Income ETFs

Liability-driven investment policies and asset management decisions are those largely determined by the sum of current and future liabilities attached to the investor, be it a household or an institution. As it purports to associate constantly both sides of the balance sheet in the investment process, it has been called a “holistic” investment methodology. Wikipedia Traditionally, liability-driven investment ...

1 min

Performance After Market Peaks

Relying purely on human intuition is very difficult when it comes to making educated investment decisions, especially when the market is constantly reaching new highs. Historically, market peaks have signaled hard times ahead.  Following the peak in 1929, America faced the Great Depression and a drawdown of 87%.  In 2001, the technology bubble burst, and ...

4 mins

The Need for Tactical Solutions Across Generations: Millennials

This post is the first in a four part series in which we will discuss why tactical strategies are valuable tools for investors of all ages.  Today we will discuss Millennials.  Our Millennial one-pager can be downloaded here. Unlike many tactical managers in the managed ETF space, we do not believe that tactical strategies are ...

Estimating the Historical Duration of Bond Portfolios

Duration is a measure of a bond’s price sensitivity to interest rate changes.  With the inverse relationship between interest rates and the price of a bond, higher duration means that the price will decrease more as interest rates rise.  It is a linear approximation of this price change that applies for small parallel shifts in ...

3 mins

The Need for Tactical Solutions Across Generations – A Four Part Series

For the better part of the last 30 years, investing has been relatively easy.  Annualized real returns on U.S. equities have exceeded 8% per year.  These strong equity returns have coincided with a phenomenal bull market in fixed income, allowing investors to have the best of both worlds.  Investing in a 60/40 stock/bond portfolio over ...

1 min

New White Paper: The Case for Tactical Asset Allocation

In a previous post, we likened correlation to a non-guaranteed insurance policy: changing correlations between rebalances can lead to dramatically different outcomes.  The same is true for diversification, which is underpinned by correlation estimates.  While well-diversified strategic portfolios are a great starting point, the built-in diversification may come with a high implicit cost or may ...

3 mins

Tracking Down Data

Data is one of the key drivers in the finance industry.  Whether it is asset prices, housing starts, the latest unemployment statistics, or interest rates, millions of decisions are made every day based on data.  Thus, obtaining accurate data from reliable sources is one essential part of making informed decisions. Over the past two decades, ...

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