There’s Always Room for Growth

There's Always Room for Growth

Last month, an article “Ending America’s Slow-Growth Tailspin” by economist John H. Cochrane was featured in the Wall Street Journal. The author is a senior research fellow at the Hoover Institute – a large research think-tank out of Stanford University. This article is incredibly important because it plainly states what I have been saying for [...]

Joshua Swartz’s 5 Year Anniversary with JPH

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This week marks Josh’s 5 year anniversary at JPH Advisory Group. Josh joined us directly out of college as an intern in the summer of 2011. I can still remember the office taking Josh out to lunch during his interview process and being astounded at just how mature and comfortable he was in his own [...]

Though the Jobs Report is Dismal, That’s Not the Real News

Table of Various Assets and Returns for June 3rd, 2016

This morning a weak jobs report came out, sending stocks down and bonds up. That’s pretty normal behavior in the markets. However, emerging market stocks and bonds were actually up on the news, based on the assumption that the dollar will suffer because the Fed will be more hesitant to raise interest rates in the [...]

First Quarter 2016 Investment Commentary

2016 Q1 Feature

First Quarter 2016 Key Takeaways – It was a tale of two halves in the first quarter of the year for global financial markets. Stock markets plunged early on, falling 10% to 16%. Broadly speaking, the decline was due to ongoing fears of a hard landing in the Chinese economy, a continuing plunge in oil [...]

Are We in a Lower Return Environment?

image source: investmentnews.com

In recent meetings with clients, we have often presented a graphic that shows the average annual returns of the U.S. stock and bond markets from 1986 to today. Why that particular 30-year time period? Because it almost exactly corresponds to my career in the investment business. It also, coincidentally, parallels a historic bull market in [...]

The Wrong Way to Discuss Market Volatility with Your Kids

image source: stocktwits.com

When the market is volatile, cartoons like this are a great illustration of how important it is to stick to a well-designed and disciplined investment plan. So you don’t have to have this conversation with your children…

Fourth Quarter 2015 Newsletter

4Q 2015 Feature

Key Takeaways – 2015 was a poor year for financial markets across the globe and across asset classes (stocks, bonds, commodities, etc.). Among the major global stock markets, the United States was the best performer, but that’s faint praise. What’s more, it was a market in which a handful of large tech/Internet companies (e.g., Facebook, [...]

Big Name Hedge Fund Managers Hit Hard in 2015

Bill Ackman of Pershing Square
(source: Yahoo finance)

Some of the world’s most successful and influential hedge fund managers got their shirts handed to them in 2015. Luminous names in the industry such as Bill Ackman of Pershing Square Capital Management, David Einhorn of Greenlight Capital, Larry Robbins who founded Glenview Capital, and even John A. Paulson were several such investors, among many [...]

Nowhere to Make Money in 2015

landscape of city and mountains

This past year in the markets was a roller coaster ride with a remarkably tepid ending. Several big events happened globally that, in the end, disrupted just about every investment asset class, with the end result being a range between essentially a flat return for most developed equity markets, to slightly negative for most other [...]

Third Quarter 2015 Newsletter

3Q 2015 Feature

Key Takeaways – Increasing concern about China’s economy, accompanied by a surprise albeit modest devaluation of the yuan currency, helped trigger a sharp drop in global equity markets in late August with the S&P 500 falling 12% from its high reached just a month earlier. The S&P 500 then bounced briefly from its August 25 [...]