September 23, 2013

Research Affiliates on CAPE

I read everything Research Affiliates puts out – and you know I can’t pass up something with a CAPE chart! Quick screenshot before the download: —- —- Link to the Article The Impact of Tapering Website
September 21, 2013

Rising Interest Rates Must End Soon

Many of you saw my blog post on bond drawdowns back in July.  If you didn’t, the summary is that bonds historically haven’t gone down much more than they have already.  In the attached note, Scott Minerd looks at previous cycles […]
September 19, 2013


Lots of legendary investors follow spin-offs.  Attached is a whopping 400 page research piece from Spin-Off Research, a research boutique focused on corporate spin-offs.  It has been published since 1997, and subs are $24k aimed at the institutional set.  A […]
September 16, 2013

4 Papers

I haven’t read much interesting in the newsletter space lately.  A few readers also let me know I send out too many emails, so I’ve tried to dial it back a bit. However, there have been a slew of interesting […]
September 5, 2013


Do yourself a big favor and watch a this 30 minute video during halftime of the Broncos game tonite.  It is from Rob Arnott at RAFI, and there are lots of important implications… Quick screenshot before the video: —- —- […]
August 31, 2013

Frontier CAPE Values

We added about 15 new markets to the CAPE list so thought we would send out a new update, enjoy!
August 29, 2013

Dividends in Rising Rate Regime

Two pieces have come out recently on how dividends respond to a rising rate environment (short story: poorly).  We featured an OSAM piece on the blog this week, and below is a nice piece from Morningstar. Quick chart before the […]
August 22, 2013

Around the World

I thought I traveled a lot, but after sitting down with Mark Yusko last week in Raleigh and hearing about his whirlwind schedule, I feel like a homebody in comparison. Below is the Morgan Creek Q2 2013 Market Review and […]
August 22, 2013

Around the World (Correct Link)

Corrected Link (But last year’s review is worth a look too!) Q2 2013 Market Review and Outlook Website Homepage
August 19, 2013

Iron Man

I haven’t featured a piece from one of my favorite newsletter writers in awhile, and here’s two.  If you don’t read Jared Dillian of The Daily Dirtnap, you should! Quick excerpt before the downloads: —- ” It started when I was […]
August 16, 2013

REAL Real Returns

This is an excellent piece by Thornburg, and it reminds me of Mladina’s piece on triple net returns. Quick chart before the download. —- —- Download PDFs Real Real Returns Website
August 14, 2013

Risk Parity and Rising Rates

Salient runs some risk parity portfolios, and even calculate some indexes for those that want some historical data.  Many are concerned that risk parity will suffer more in a 1970s style market (May and June were particularly brutal). Below is a white […]
August 12, 2013

The Challenges of China’s Rise

Apologies for not sending much summertime reading, but I was on the trail doing three talks, a podcast, and a webinar.  The good news is I spent a lot of time reading on the airplanes, and found some interesting pieces […]
August 2, 2013

Newfound Research

Many of you are already familiar with the crew from Newfound, mainly due to their work with f-squared and the Virtus funds.  I attached a few of their white papers, but it is worth going to their website and taking […]
July 30, 2013

What Happens After Expected Inflation Drops?

Good piece from John West of Research Affiliates on what happens to inflation exposed assets after a big drop in inflation expectations… Here is a chart before the download: —- —- Download PDF 3-D Shoppers Website