Market Ethos -Bull Market year 2 or 12?

Published by Brett Gustafson on Apr 19, 2021

Did the last bull market or cycle end in Q1 of 2020? There was a bear market, there was a recession. Yet, the markets today contain elevated levels of speculation, high commodity prices, record highs, frothy valuations and rising inflation expectations... Read more
Market Ethos - Path to normal

Published by Brett Gustafson on Apr 12, 2021

In this Ethos we dive into some of the higher frequency economic activity data which reveals the re-opening trend is rising. It also highlights that some of the pandemic induced trends are starting to reverse. Click HERE Read more
Valuations - Not As High As You Think

Published by Alexander Tjiang on Feb 22, 2021

This week is on valuations. Yes, the S&P 500 is trading above its 90th percentile in terms of historical valuations (data back to the 30s). But the headline valuation is skewed by the valuations and weights of the mega cap tech names. About 1/3 of the... Read more
Waves of Money

Published by Alexander Tjiang on Feb 16, 2021

There is no question there are speculative waves of money moving around different markets and pushing prices these days. Case in point, Bitcoin hitting $50k. In this Ethos we take a look at money flows from the Reddit crowd to the rise of thematic ETFs... Read more
Cyclical Yield

Published by Alexander Tjiang on Feb 08, 2021

With bond yields trending higher as the global economy continues its long road to recovery, we have revisited our dividend framework that differentiates between interest sensitive and cyclical yield dividend companies. Having a balance, with a bit more... Read more
Cyclical Yield

Published by Alexander Tjiang on Feb 08, 2021

With bond yields trending higher as the global economy continues its long road to recovery, we have revisited our dividend framework that differentiates between interest sensitive and cyclical yield dividend companies. Having a balance, with a bit more... Read more