Mark Yusko's Second Quarter 2013 Review and Outlook by Zach Kouwe
Showing posts with label bonds. Show all posts
Showing posts with label bonds. Show all posts
Friday, August 16, 2013
Wednesday, January 16, 2013
Investment Strategies Require You Stick With Them
There are a lot of different investment philosophies out there all competing for the attention of a limited amount of capital. The interesting thing in my mind is that there are so many different managers, strategies, fee structures and just as many investors out there ready to listen to them, including me. These days, with bonds yielding nothing and equities still very volatile, investors (especially retirees) don't know what to do with their money.
Mebane Faber of Cambria Investment Management (Full Disclosure: Cambria is a client of the PR firm I work for) has devised very interesting ways to diversify by investing in several different asset classes including real estate, commodities and foreign stocks, which are trading at historic low valuations. Overlay a risk management process that tries to avoid massive drawdowns by going into cash when asset prices are going down. Cambria just published its latest outlook on the market and compared returns over the last 40 years in various different portfolios. Like anything else, it relies on investors who don't do stupid things, like pull their money out of strategy just because it doesn't beat the overall market. Cambria's strategy didn't do well compared to the U.S. equity markets in 2011 and 2012, but over the long term it has been better with much less volatility. It all depends on how long you stick with the strategy.
Sunday, January 13, 2013
Oaktree Sees a Bubble Brewing in the Debt Market
By Zach Kouwe
The always interesting Howard Marks of Oaktree Capital Management shares his latest thoughts on where we are in the market today. Hint: He is seeing a huge bubble brewing in the debt markets as investors reach for yield in junk bonds and accept larger risks in Treasuries. Marks is one of my favorite investment managers, primarily because he started a firm that invests in all sorts of complex financial instruments and works on behalf of large, sophisticated investors such as pension funds, but still finds a way to explain his thoughts in a way that can be easily understood by people with little background in finance.
Marks' public relations skills have enabled him to become a leading voice in the investment community. All he has to do now is get on social media and he can raise his profile even more. Sally Krawcheck, formerly of Merrill Lynch, has done this successfully as I mention in RIABiz. Thought leadership pieces like this one below are important for any company, no matter what industry, to demonstrate to the public their unique philosophies and position in the market.
The always interesting Howard Marks of Oaktree Capital Management shares his latest thoughts on where we are in the market today. Hint: He is seeing a huge bubble brewing in the debt markets as investors reach for yield in junk bonds and accept larger risks in Treasuries. Marks is one of my favorite investment managers, primarily because he started a firm that invests in all sorts of complex financial instruments and works on behalf of large, sophisticated investors such as pension funds, but still finds a way to explain his thoughts in a way that can be easily understood by people with little background in finance.
Marks' public relations skills have enabled him to become a leading voice in the investment community. All he has to do now is get on social media and he can raise his profile even more. Sally Krawcheck, formerly of Merrill Lynch, has done this successfully as I mention in RIABiz. Thought leadership pieces like this one below are important for any company, no matter what industry, to demonstrate to the public their unique philosophies and position in the market.
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