As we all know from news headlines, global stock markets have now entered a “bear” market, having declined more than 20% from recent highs. In Litman Gregory’s 30-plus years, we’ve been through several crises and stock market declines.OvercomingPanicInVolatileMarkets_LGPS
Listen to a replay of our fourth quarter 2019 Litman Gregory research team webinar. Topics covered (among others): investment challenges, municipal bonds, U.S. and European stock valuations, value vs. growth, and small vs. large.
View and download the presentation slides here:Litman-Gregory-Q4-2019-Research-Webinar-Presentation-Slides
Financial markets were choppy in the third quarter, buffeted by some familiar themes: on-again/off-again U.S.-China trade war headlines, weak global growth, recession fears, and central bank monetary policy. The bulk of this month’s commentary is devoted to laying out our compelling case against a higher U.S. stock allocation and why we favor international stocks.Litman_Gregory_Third_Quarter_2019_Investment_Commentary
Listen to a replay of our first quarter 2019 Litman Gregory research call. Topics covered (among others): the equity rebound, conditions in Europe, floating-rate loans, managed futures, and emerging-market bonds. The presentation slides are available below.
View and download the presentation slides here:Litman_Gregory_Q1-2019_Research-Call_Presentation_Slides
It certainly feels better to see strongly positive portfolio performance this quarter compared to the losses in the fourth quarter of 2018. The market rebound was due more to improving investor sentiment and risk appetite—caused largely by the shift in Federal Reserve monetary policy—than any meaningful improvements in underlying economic or business fundamentals.First-Quarter-2019_Investment_Commentary