Renting vs. Owning

Renting vs. Owning

Fear of Missing Out This market is a FOMO generating machine.  From our vantage point, there is more delusion around returns and disregard for risk than we ever thought possible. Why be content with 15% when you can go buy some random crypto coin that was created out...
Renting vs. Owning

Rearview to Windshield, June 2021

Developments over the Past Month:   Thus far, 2021 has continued the inflation theme in the market. Value continues to outpace growth, small caps have performed well, and bond yields reflated. The bond and equity market are signaling two different inflationary...
Renting vs. Owning

Team Over Players

Aptus has six team members that are former collegiate basketball players and two that went on to play professionally.  That is almost 50% of our roster.  This shared background creates a competitive culture and basketball analogies as a go-to for simplifying the...
Renting vs. Owning

Rearview to Windshield, May 2021

Developments over the Past Month:     Thus far, 2021 has continued the inflation theme in the market. Value continues to outpace growth, small caps have performed well, and bond yields reflated. 10Yr Treasury yields have marched higher (0.93% on 12/31/2020),...
Renting vs. Owning

Q1 2021 Recap and Chart Book

Just a few things had investor attention in Q1, among them… The inauguration of President Biden A blowout earnings season The emergence of meme stocks and our introduction to an online trader nicknamed Roaring Kitty A near endless supply of new SPACs Incipient...
Renting vs. Owning

The Relative Opportunity Set

Absolute valuations matter, if the history of markets is any guide. They can be a solid indicator for future returns.   High valuations today lead to lower returns moving forward, and vice versa.  That’s how markets work – they are mean reverting. That can be...