by JD Gardner | May 3, 2023 | Market Updates
I’m starting with this chart because it matters: Source: TS Lombard as of March 2023 What you are looking at is the rolling 10-year correlation between stocks and bonds. Correlation is a measure of the relationship or connection between two things. In...
by JD Gardner | Apr 4, 2023 | Market Updates
Decisions are easier to make if conviction of outcome is high, and/or the tradeoff profile is attractive enough. Even if (you think) you know the outcome of an event, if the tradeoff profile is poor then what? Let’s use a real-time example: Given that it’s the NCAA...
by JD Gardner | Mar 7, 2023 | Market Updates
This month’s note is a carryover from last month’s, where we highlighted the rise of the “set it and forget it” portfolio over the last couple of decades, and the potential issues we see with that mentality. These portfolios are dependent on bonds working. By...
by JD Gardner | Feb 6, 2023 | Market Updates
Think Different – Be Different Day in and day out, our time is spent in the trenches with financial advisors and their end clients. Some are new relationships; some we’ve had the privilege to work with for years. We aim to be a valuable relationship and extend...
by JD Gardner | Jan 4, 2023 | Market Updates
Markets Have Changed Discounting is the mathematical practice of estimating what a cash flow in the future is worth TODAY. Higher rates used in discounting lead to lower values today, while lower rates used in discounting lead to higher values today. Given...
