U.S. Money Market Assets

Volatility across capital markets is often a sign of cash exiting or entering a specific asset class, which can be defined as exposure to stocks, bonds, commodities, or any other investment that carries a reasonable liquidity profile. Measuring the level of cash that...

Our View of 2024: Q1 Update

Concentration of Returns in the S&P 500 The pursuit of excess investment returns since 2022 has been predominantly determined by having substantial investments in the top 10 companies of the S&P 500 Index, as measured by market capitalization. Forgoing an...

Our View of 2024: January Update

Increasingly Optimistic Consumer health will dominate headlines in 2024 as the eventual recession becomes a reality. The onset of a recession is a lagging indicator and represents a normalized shift in the business cycle, one that has occurred every 6.5 years since...

Concentration of Returns in the S&P 500

The pursuit of excess investment returns in 2023 was predominantly determined by having substantial investments in the top 10 companies of the S&P 500 Index, as measured by market capitalization. Forgoing an oversized commitment to those 10 companies would entail...

Time in the Market

Chart Content: Annualized S&P 500 Index returns over the past 25 years compared to annualized S&P 500 Index returns over the same time frame when missing the top 10, 20, 30, and 40 days in the market. Chart Significance: Missing the best-performing days in the...