The Spotlight Blog

  • Monthly Outlook – January 2020

    Even as economic data deteriorated towards the end of 2019 and earnings were lackluster, investors pushed up the valuations of stocks to all-time highs seeing through the often difficult macro headlines.

  • Modifying the NASDAQ’s Momentum

    In 2019, the ten largest constituents in the S&P 500® represented over 30% of its 31.48% total return, which simply means that the largest companies did best. When it comes to the NASDAQ-100®, the ten largest companies delivered a whopping 60% of the index’s nearly 40% return as names like…

  • Time For EM To Shine?

    While phase one of the U.S.-China trade deal remains unsigned, both parties have agreed to terms that takes steps towards removing a substantial overhang in international markets, especially those in emerging markets.

  • Cyclicals Running Against the Wind

    Since the dog days of summer, risky assets, such as stocks and high yield bonds, have outperformed traditional safe havens, such as long-term treasuries and gold. Within the equity market, the same trend has occurred with cyclical sectors returning 8.58% since the start of September and defensive…

  • Is Value Ready to Run?

    While value stocks are off to a slightly better start than growth stocks in the early days of December, its most recent run of outperformance lasted for only one month – September – before growth resumed its upward trajectory in the subsequent two months, quieting the value zealots once again.

  • 2020 Outlook: The Fear of the Fear of Missing Out

    In 2019, investors waded through significant economic and geopolitical uncertainty to push U.S. equity markets to new all-time highs as the developments around Brexit and the U.S.-China trade negotiations arrived at less than dire outcomes. However, outside of the day-to-day headlines, economic…

  • Largely Large Caps

    Small caps continue to struggle to find their footing relative to large caps, trailing by 0.77% over the last three months, 5.10% over the last six, and 10.05% over the last twelve. At 1,724.52, the Russell 1000 Index has made multiple new highs this year, but the Russell 2000 Index is a ways away…

  • Value Redux?

    The sun has been shining on value’s door since we saw the sharp move up in interest rates in early September that has accelerated of late thanks to investors’ reassessment of impending doom for the global economy.

  • Monthly Outlook – November 2019

    Investors drove U.S. markets to new all-time highs thanks to progress on the U.S.-China trade deal, accommodative monetary policy and better than expected earnings. ETF investors made some risk-on moves last month as they allocated to non-U.S. equities.

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