OCEAN CITY — International trade is considered and reported as a crossborder transaction between Country A and Country B. In the real world, however, it is a bit more complicated. It is companies that trade, not countries. States, to be sure, do matter. Governments are the rule-setters when it comes to what goods and services… Read more »

OCEAN CITY — At one time or another, we all face major turning points in our lives — getting married, becoming a parent, receiving a life-changing promotion, getting ready to retire. At times like these, many people feel a need for financial help, and start to wonder whether working with a financial advisor might make… Read more »

OCEAN CITY — The consuming class may be the world’s next big engine of economic expansion. We believe that in a world with lower-for-longer interest rates and underwhelming growth, the roughly 4.5 billion people at the base of the economic pyramid may be a critical factor as a significant portion of them enter the middle… Read more »

OCEAN CITY — The market is corralled within a range. Equity indexes have been range-bound in the past year, as has the U.S. dollar. We believe the equity market is more a “buffalo” than a bull or a bear. A buffalo market tends to roam over a long period of time, is herd-like and rather… Read more »

OCEAN CITY — The fiscal stimulus package approved by the U.S. Congress in December may have come at the right time to spur the economy. It’s been slowing from annual rates of growth in real Gross Domestic Product (GDP) of around 3% in the 1990s and 2000s to the low 2% range in recent years,… Read more »

OCEAN CITY — Company earnings are an essential factor for long-term equity market performance. According to FactSet, S&P 500 companies, on aggregate, have reported two consecutive quarters of declining year-over-year growth, with the first quarter of 2016 expected to extend the streak to three. The deteriorating trend has been attributed to numerous factors, such as… Read more »

OCEAN CITY — Last week, we shopped for yield and growth in the U.S. Consumer Staples sector. This week, we look at Real Estate Investment Trusts (REITs), another U.S. sector we think may provide yield starved investors with both appealing dividend yields and capital appreciation potential. REITs are required by law to maintain dividend payout… Read more »

OCEAN CITY — Gold has been one of the few bright spots this year — and not only within the struggling commodity complex, but also among broader risk assets. As of March 18, gold is up approximately 18%, while the MSCI World Index is flat. Gold’s appeal has grown against a backdrop of heightened market… Read more »

OCEAN CITY — The global economy is facing a myriad of challenges that have contributed to reduced economic growth and financial forecasts for 2016. While we acknowledge those challenges, we believe they may present an opportune environment for investors, as attractive bargains tend to materialize in times of much pessimism. Furthermore, February’s strong jobs report… Read more »

BERLIN – A perfect storm of a decelerating Chinese economy, an accelerating drop in petroleum prices, tightening Federal Reserve policy, and a strengthening U.S. dollar led to the worst start to a year for U.S. equities on record in 2016. The S&P 500, the Dow Jones Industrial Average, and the NASDAQ Composite were down 8.95… Read more »