The Stock Market Sits Down for a Job Review

"Describe your perfect day." Such a simple interview directive rarely fails to provide the most telling of replies.  Responses are almost never scripted in advance and usually provide productive insight into what motivates the interviewee, what passions she has, her creativity, or how she organizes her day.  Responses from previous experience posing this question (even [...]

Q1 2017 Investment Commentary Part II: Forecasting the Future

Let’s start with a debatable, but widely held fundamental concept of investing: the best predictor of future returns for stocks is the current valuation.  This is generally true of a single stock, a sector, or an entire country’s stock market.  Academics and practitioners debate whether important factors like gross profitability, price momentum, earnings momentum, yield, [...]