Many investment advisors present their returns next to the S&P 500. In this article we explore whether any meaningful information exists in the comparison, and the negative effects that publishing comparative returns can have on advisors themselves.
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2017 – A Year of the Unexpected
Happy New Year from everyone at Highgate Securities Investments! We wish you much health and happiness for 2018 and hope that the new year is an auspicious one for you.
Interestingly, 2017 turned out to be a superb year for most investment markets despite much fretting among investors about how a Trump presidency would impact them.
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The Fed’s Virtuous Cycle
Gains continued across most asset classes in the 3rd quarter as the S&P 500 rose 4.5% and US Treasurys rose 0.4%. Interestingly, emerging markets stocks rose 8.1%. Some of these gains in stocks could probably be attributed to a dollar decline of about 3%, which pushed gold prices up by about 3%.
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Be Prepared
If the short-term direction of the stock market were in any way predictable, there would be trillionaires among us. Since there are no trillionaires, by logical extension, we must assume that the stock market is, in fact, unpredictable
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