Beyond Bulls & Bears

Hasenstab on Global Growth: Headwinds or Tailwinds?

Hasenstab on Global Growth: Headwinds or Tailwinds?

The core of our strategy for 2015 continues to be positioning to navigate an anticipated rising-rate environment in the United States.

Complexity, Critical States and Tributaries of Uncertainty
Alternatives

Complexity, Critical States and Tributaries of Uncertainty

We are always uncertain, and so we must always be prepared and sheltered appropriately for living in the uncertain world, investment portfolios notwithstanding.

Risk Factor Investing: The Evolution of Multi-Asset Strategies
Alternatives

Risk Factor Investing: The Evolution of Multi-Asset Strategies

Rather than tying ourselves to indexes, which we believe do not operate to meet investors' goals, we align our portfolio to a return objective.

Demystifying—and Defeating—Deflation

Demystifying—and Defeating—Deflation

I have little doubt the European Central Bank and other central banks such as the Bank of Japan—which has committed ¥80 trillion a year to its QE program—will continue to try to do what they believe is needed to boost inflation.

Global Economic Perspective: February

Global Economic Perspective: February

Unless we see further significant drops in oil prices from their current levels, we believe the impact on headline inflation will progressively fade.

Active Opportunities in a Passive World

Active Opportunities in a Passive World

To stay in line with benchmark allocations, passive funds buy more of the stocks that get bigger while selling the stocks that shrink. By doing so, they are perpetually rotating away from cheaper stocks that have underperformed and into more expensive stocks with limited upside potential.