Fascinating from a political viewpoint, but it is also highly relevant.
The market has handsomely rewarded the riskier fare, including small, leveraged, non-dividend-paying, and highly-cyclical companies.
Over the last six and twelve-month periods, our portfolios have outperformed their benchmarks by 5.3% and 4.0%, respectively.
Unity and bond buying by the ECB are not a stagnation panacea.
Why, after all, are we more conservatively positioned at this time?
That’s our overarching goal: keep pace during strong years and earn our keep during flat or down markets.
Benchmark obsession undermines investor returns…