Tag Archives: US equity
The Darkest Hour
“It is always darkest just before the Day dawneth” -Thomas Fuller The bull market is over. After 11 years of impressive and relatively steady gains, last week the S&P 500® slid into bear market territory, marking the end of the glory of the 2010s and the start of a new regime. Volatility is back with…
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Illustrating the Value of Liquidity
Let’s suppose for a moment that you are given a choice between two hypothetical exchange traded funds (ETFs) tracking the same index. Fund A has an annual management fee of 0.4% while Fund B has an annual management fee of 0.1%. At first glance, Fund B seems like the better option: it offers similar performance…
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A Changing Stride for an Ageing Bull
Taking a cue from Frank Sinatra, the S&P 500® was riding high in April, shot down in May, and got back on top in June. But the current bull run is feeling its age, and we may be witnessing a change in its stride. Coming into the end of the quarter (all figures are…
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Energy: Fueling a Race to the Bottom
While consumers may enjoy the additional purchasing power provided by a decline in energy prices, Energy sector investors would prefer that they had a little more pain at the pump. The Energy sector of the S&P 500 is having a year to forget. The index is down 20% year to date on a total return…
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