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Rethinking Modern Portfolio Theory
Generally, in our quarterly A/L Monitor, we strive to present in depth overviews of salient topics on the subject of Liability Directed Investing (“LDI”). Thus. . . .
Sage Advice Quarterly Market Review 3Q2009
The recovery rally, which began early in the second quarter and continued throughout the third, exhibits continuing signs of an economic rebound, with high cash. . . .
Sage Advice Municipal Market Monitor 3Q2009
While not immune to all fixed income risks, municipal bonds, historically, as compared to other fixed income securities, have had low default rates and very. . . .
Tactical ETF Portfolio Shift Commentary 09/11/2009
Within equities, all of the domestic large cap positions have been reduced in favor of an increase in international equities. We maintain our negative view of. . . .
Tactical ETF Portfolio Shift Commentary 07/20/09
We have reduced domestic equity in favor of developed international growth. Within the fixed income portion of the portfolios, we opened a position in emerging. . . .
Sage Advice Quarterly Market Review 2Q2009
Are we there yet? Like bickering children in the back seat, economists, pundits and policy makers are incessantly asking whether the economy is approaching that elusive. . . .
Municipal Fixed Income Commentary 2Q2009
During the last quarter, the municipal market provided positive returns across the curve as investor inflows reached a record $31.6 billion by the end of the. . . .
Cash Balance Plans, Beware the Details
This quarter’s stock market rally has been a boon to defined benefit (DB) pension plan funding, lifting funded ratios above the 80% mark. Yet this. . . .