We are very excited and honored to be one of only two tactical ETF strategists on the new Cetera Platform. Please follow the link below for the press release.
We are ones to look both ways even when crossing a one-way street. It is ingrained in us to watch for the unexpected. We’re believers in the saying, “It’s the punch you do not see that knocks you out.”
Although we stand in a near fully invested stance at the time of this writing, we are always looking for signals that will change our positioning. Catching our attention at this moment are China’s wealth management products (WMPs). In our last commentary, we briefly highlighted that WMPs may be a potential pain point for the world’s financial markets. We said that the
“Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses while giving disproportionately less consideration to alternative possibilities.” – Wikipedia
The S&P 500 index, a proxy for the US equity market, has risen 6% in the first ten weeks of 2017 and almost 30% from the February lows one year ago. Throughout the run-up, investment pundits have expressed concern that the market was richly valued, citing the historical highs in one measure of equity market valuation.
There are ample reasons to be cautious, but valuation is not high on
One who deceives will always find those who allow themselves to be deceived. – Niccolo Machiavelli
With the heightened focus on world politics, it comes as no surprise that The Prince by Niccolo Machiavelli is seeing a material increase in book sales. We have spent some time reviewing his writings and the centuries of debate surrounding his perceived intentions. His writings are a staple of the current political process and are no less relevant to the corporate world. The constructive elements of his writings, such as, “Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity
We founded Auour Investments in early 2013 and spent the spring and summer building the Auour Regime Model and constructing the investment processes underlying our strategies. In the fall of 2013, we launched the first of the Instinct family of dynamic core strategies: Global Fixed Income in October and Global Equity in December. The growth in assets has been rewarding yet we have had little or no help from the financial markets.
Since the launch of the strategies, the equity markets have experienced a total return of 9.2% over a three-year period[i]. That equates to around 3% per year in equity