True Diversification is a Process, Not a Set of Assumptions

Terri Spath, Chief Investment Officer | 3/18/2019

A simple definition of investment diversification is conveyed in the overused statement, “don’t put all your eggs in one basket.” The basic buy-and-hold, set-it-and-forget-it style of investing is often premised in a 60% global stock and 40% bond allocation (known as “60/40”) and sold as enough diversification to handle whatever market turmoil might come your way over the long-term.


After Last Quarter's Bloodbath, We've Had a Nice Rally. Is it Time to Pop the Corks?

Terri Spath, Chief Investment Officer | 2/12/2019

So far in 2019, and really since Christmas Eve, we have seen a nice risk-on rally. Equities (as measured by the S&P 500® Index) were up about 8% in the month of January despite the U.S. government shutdown and international turmoil. While it is nice to have a breather from the march downward, it may be too early to pop the champagne corks and celebrate for the rest of the year. 2019 has only just begun, and (stop me if you've heard this) investing in a marathon, not a sprint!


A Portfolio Manager's Resolution for Investors: Trailing Stops

Terri Spath, Chief Investment Officer | 1/15/2019

A new year brings with it the elation of a renewed start. We proclaim resolutions about how we will make this year better than the one that just concluded. After the volatile close to 2018, investors should now be doing the same. Fortunately, there is the trailing-stop.


Observations and Perspectives: Some of These Things Are Not Like the Others

Terri Spath, Chief Investment Officer | 8/21/2018

Since early July 2016, the yield on the 10-year Treasury has rocketed from 1.38% to nearly 3%. Investors in intermediate Treasuries have lost more than 7% over that period as rising interest rates have resulted in falling bond prices.


Observations and Perspectives: Show Me the Money

Terri Spath, Chief Investment Officer | 6/10/2018

We are consistently hearing that bonds are making advisors and investors pull out their hair. Nearly three decades of generally falling interest rates has translated into a bull market for traditional bond strategies, but times have changed.