Investor Letter Fall 2014: Sailing Into The Wind

Posted by David Templeton on Friday, October 31, 2014
HORAN Capital Advisors recently published its Fall 2014 Investor Letter. The consensus view at the start of 2014 was interest rates would rise and economic growth would be globally synchronized led by the U.S. Now three quarters of the way through 2014, it appears economic growth in the U.S. is the only consensus viewpoint being realized.Although we are just a month past the end of the third quarter, September 30th seems a distant memory. The third quarter ended on a weak note for most asset cla...
Read More...

Nikkei Rally, But Pay Attention To Currency Exchange Rates

Posted by David Templeton on Friday, October 31, 2014
Today Japan announced an surprising boost to its quantitative easing program. The result was a significant jump in Japan's Nikkei 225 index closing up 4.83%. For some or many investors there is an awareness to QE programs seem to be positive for equity prices. Knowing this, ones instinct is to increase investment allocations to economies and markets where QE is being pursued. However, investor's must keep in mind the impact exchange rates will have on non-U.S. market returns when converting the ...
Read More...

Week Ahead Magazine: How Quickly Sentiment Changes

Posted by David Templeton on Sunday, October 19, 2014
At the start of this past week it seemed the bears were out in force and it led to selling pressure on the indices through Wednesday. However, trading on Wednesday may have been a capitulation day as the S&P 500 Index and Dow Jones Industrial average were down nearly 3% from their respective day's high and low. The market turnaround carried through to the week's end. The only index managing to gain on the week though was the small cap Russell 2000 index which was up 2.8%. Small caps have struggl...
Read More...

Equity Put/Call Ratio And VIX Indicating Oversold Conditions

Posted by David Templeton on Tuesday, October 14, 2014
Although an equity put/call ratio over 1.0 is ideal for this sentiment indicator to indicate oversold market conditions, the current .91 level is an extreme one. Coupled with the spike in the VIX, today's market bounce is not a surprise.From The Blog of HORAN Capital AdvisorsFurther indications of an oversold market are the percentage of S&P 500 stocks trading above their 50 and 200 day moving averages. As the two charts note below, this technical indicator certainly indicates oversold market le...
Read More...

Fran├žois Trahan: Best Four Years Ahead For U.S. Equity Investors

Posted by David Templeton on Sunday, October 12, 2014
One factor that is a certainty at the moment is there is not a lack of strategy commentary around the future direction of the equity markets. The difficulty for investors is deriving an investment thesis from them since many different conclusions are drawn from the market's recent weakness.In a recent interview of Fran├žois Trahan of Cornerstone Macro by Consuelo Mack on WealthTrack, Trahan believes the next four years could be some of the best for U.S. equities. Trahan is a Founding Partner of ...
Read More...

Week Ahead Magazine: Equity Market Entering Seasonally Strong Period

Posted by David Templeton on Sunday, October 05, 2014
Last week included two trading days to end the third quarter and three trading days to start the fourth quarter of 2014. In total the week was one where nearly all U.S. and international indices ended in the red. From a positive perspective strength was seen in U.S. markets after mid day on Thursday and this carried over into Friday. For the week though, the Russell 2000 index continues to struggle to find support and was down 1.3% and is now down 5.1% year to date. The other major U.S. indices ...
Read More...

Nancy Lazar Interview: The U.S. Continues To Be A Driver Of Global Growth

Posted by David Templeton on Sunday, October 05, 2014
In September of last years we provided some commentary and a link to an interview conducted by Consuelo Mack with Nancy Lazar on WealthTrack, Is Middle America The New Emerging Market? At that time Nancy Lazar stated the Middle America was the new emerging market. In an interview on WealthTrack last week with Nancy Lazar, she continues to highlight the strengths of the U.S. Nancy was a founding partner of ISI Group and recently started her own firm, Cornerstone Macro. She has been rated as a top...
Read More...

Investor Sentiment More Bearish

Posted by David Templeton on Saturday, October 04, 2014
This past week's investor sentiment report by the American Association of Individual Investors (AAII) indicated investor bullish sentiment continues to decline. The bullish sentiment reading declined 6.42 percentage points to 35.42%. Individual investor sentiment is a contrarian indicator and is most predictive of future price action when the bullish sentiment is at extremes. If individual investors indicate a low level of bullishness, this would be one indication the equity market could be appr...
Read More...

September Returns: Practically No Place To Hide

Posted by David Templeton on Wednesday, October 01, 2014
If there is one positive to the close of the month of September it is the fact investors can turn the page and set their sights on October and the fourth quarter. September has historically been the worst performing month in a calendar year and this is even truer when the prior month of August achieves returns greater than 3%. In fact, August of this year saw the S&P 500 Index return 3.8% and the Dow Jones Industrial Average return 3.2%. At the start of September, Ryan Detrick wrote an article, ...
Read More...

Dow Dogs Outperforming Dow And S&P 500 Indices

Posted by David Templeton on Monday, September 29, 2014
As investor may realize, the Dow Jones Industrial Average has significantly underperformed the broader S&P 500 Index on a year to date basis. The S&P 500 Index is up 7.00% on a price only basis while the Dow Jones Index is higher by only 2.98%. Because the Dow index is a price weighted index, companies in the index with higher stock prices have a larger impact on the Dow index performance. Consequently, higher priced stocks in the Dow have trailed the broader market. For example,Boeing (BA), wit...
Read More...
Page 1 of 84First   Previous   [1]  2  3  4  5  6  7  8  9  10  Next   Last