Articles & White Papers

  • The Offense and Defense of Disciplined Portfolio Balance

    Correlations in “growth” and “value” equity factors may undercut the diversification benefits of benchmark-relative exposures to sectors and geographies. Consistent portfolio balance by “styles,” though, can lower beta and lift alpha.

  • Seeking Global Income in a Negative Rate World

    Negative real benchmark bond yields don’t leave much upside for most bonds, but dividend-paying equities remain a good option for yield-seeking investors.

  • The Laddered Bond Portfolio

    Many financial advisors recommend bonds and bond funds as a part of their clients' investment portfolios, both for their perceived safety and yield. However, not all bonds and bond funds are the same, and investors are often lured...

The Laddered Bond Portfolio

Many financial advisors recommend bonds and bond funds as a part of their clients' investment portfolios, both for their perceived safety and yield. However, not all bonds and bond funds are the same, and investors are often lured...

April 10, 2019

      The Value of Dividends in Retirement

      Over the past eighty-seven years, dividends have accounted for over 40% of the total return for the S&P 500 Index. The importance of dividends has been an often overlooked part of investing, but will continue to come to the forefront as...

      February 2019

          Building a Cash Flow Reserve Ladder

          How do retirees avoid selling their hard-earned retirement assets at the wrong time? The all-important “buy low and sell high” discipline is out of reach when forced to sell in a bear market. A cash flow reserve ladder can provide the...

          February 2019

              Beware High Yield’s Siren Song

              High-yield credit has had a banner 2018 as technical flows, fundamental factors, and good economic growth aligned. But its buoyant performance could quickly capsize under the overall growth of the debt market, tight spreads, lofty net...

              September 19, 2018

                Endowment Spending Policy

                A spending plan can help retirees balance the desire to maintain a consistent lifestyle with the need to preserve assets for a retirement that could last 30 to 40 years. How should the spending amount change over time? A plan that...

                April 2018

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