Investors would be well advised to carefully review any company strategy that proposes to increase demand by moving to capitalize on its brand name by introducing lower priced products. High priced and universally admired brands tend to benefit from exclusivity. Rolex watches and Jimmy Choo shoes are far more than time pieces or footwear. Any … Continued
This well-known proverb may be applicable to the stock market. A recent article in The Wall Street Journal, by Morgan Housel, highlighted “three mistakes that investors make over and over again”. First, Mr. Housel suggested that investors incorrectly predict their future emotions. Most investors feel certain that they can weather down turns, when in fact, … Continued
The fact that the S&P 500 index has reached all-time highs is great news. It displays the resilience of people, companies, and markets in overcoming challenges to achieve long-term growth and prosperity. From an investment standpoint, it can also be very emotional. To recognize that emotion, it requires a long-term mindset which allows one to … Continued
As an investment advisor and wealth planner, Sigma represents many clients who have already accumulated substantial savings through hard work, responsible spending habits, and sound financial decisions. However, to many parents’ dismay, their children are not following their example. Compounding the problem, many parents have a natural tendency to help their kids financially. Yet, in … Continued
By most measures, stocks are currently trading at or near all-time highs. On that basis, one might conclude that stocks are at least high and perhaps too high. This is looking at the markets in absolute terms. But what about relative value? Are stocks high compared to the major alternative investments, cash and/or fixed income? … Continued
Over the last several weeks there have been a number of commentaries and news items suggesting that stock picking has fallen out of favor and investors, both individual and institutional, are shifting some assets to passive investments, such as index funds and ETFs. Some commentators have even suggested that stock pickers seek other employment. Not … Continued
Friday’s Wall Street Journal carried an article titled “U.S. Bonds Continue to Defy Bears”, after 10-year U.S. government bond yields closed at 2.33% last Thursday (the lowest closing level since June 2013). This reiterates the general tone of our most recent Sigma Summaries article, “The Risk of Waiting for Interest Rates to Rise”. All comments … Continued
The concept of sustainability, particularly with respect to natural resources, is the subject of a heightened level of interest. Specific proposals are increasingly appearing in corporate proxies and many companies are introducing practices that are designed to protect and extend the useful life of natural resources. While environmental sustainability is garnering increased attention, investors should … Continued
Recently The Wall Street Journal published an exceptional commentary by French free-market journalist Guy Sorman titled “The Case for Optimism,” which is reproduced below. “Are we better off than our generational predecessors? Some say no, but I’m old enough for such pessimism to seem absurd. My parents knew nothing of modern conveniences like central heating, … Continued
There is a spirited debate within the investment community on the role that “alternative investments” should play in one’s portfolio. In the simplest of terms, an alternative investment is an investment in an asset class other than stocks, bonds and cash. One of the rationales used to promote these investments is that by introducing alternative … Continued
A few days ago The Wall Street Journal carried an excellent article by Mark Hulbert, basically concluding that, “trying to time the market is by and large a losing proposition, even for the pros.” Mr. Hulbert further noted that, “it is hard to decide when the market has peaked and it’s time to get out. It … Continued
It has been said that “flying is hours and hours of sheer boredom punctuated by moments of stark panic.” The stock market would seem to have some of the same attributes. Most of the time, the popular averages tend to drift along, generally with a moderately positive bias, and relatively modest percentage gains and losses. … Continued
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