May 25, 2020

Small Growth passing baton to Small Value

Small value equities are valued -38% below their 10-year average, while growth, defensive, low volatility, and ESG factors exceed the bubble threshold of +30%. This dispersion has reached a 20-year high, in line with the dot-com bubble.

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J. Paulo Silva, CFA
Sr. Portfolio Manager
November 12, 2019

Equity's Credit Blindspot

Equity has a credit blind spot. 95% of Russell 3000 companies issue debt, 75% of which is sub-investment grade. Equity investors study stock price movements but often ignore credit market signals.

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Joe Maguire, CFA
Sr. Portfolio Manager