For both agency securities and non-agency issues, the Fed’s bond-purchasing programs have had a major effect on prices and spreads.
The recovery in corporate earnings appears to be in transition to a slower pace of profit growth. Typically, conditions like these make active, fundamental research more important for choosing equities.
The magnitude of uncertainty in China’s politics and policy today is undeniably daunting. Western observers — and even the Chinese — simply do not know in what direction China’s new leader, Xi Jinping, will take the country or how constrained … Continue reading
Analyzing dividend-paying stocks focuses on more than just yield. It’s important to differentiate companies that can simply support a dividend from those that can potentially grow the dividend in the short or long term.
With the automatic spending cuts, or sequestration, required by the Budget Control Act of 2011 still on track to go into effect starting Friday, March 1, we believe it’s important to keep the full impact in perspective. Even if we … Continue reading
With equity markets reaching levels not seen since the financial crisis in 2007 and 2008, the recent rally has underscored positive fundamentals. However, while we believe the stock market today offers many attractive opportunities, our view is probably more tempered … Continue reading
Although some areas of the real estate market still have weaknesses, a number of factors are coming together to support the recovery in the housing market.
As growth investors, we identify broad trends that can drive changes in business models and new opportunities for profits.
With revenues on the rise, the fiscal health of many states is improving. In a survey conducted in the fall of 2012, the National Conference of State Legislatures found “solid revenue performance” in most states. This is one of the … Continue reading