Research & Insights

Our investment decisions flow from incisive perspectives.

July 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

July saw strong performance across most equity markets as concerns over the negative impact of trade wars subsided temporarily. The Russell 3000 Index finished the month with a return of +3.3%. Large cap stocks returned to the… Read Full Post

June 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

Trade tensions were the major driver of many market movements during the quarter with June seeing a sharp escalation in talk and action. In addition to the steel tariffs already implemented, the US announced a further $200… Read Full Post

May 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

After a brief pause in April, global market performance was mixed in May as investor enthusiasm returned to the US markets while results were more negative outside of the US.  The Russell 3000 Index finished the month… Read Full Post

Leading Practices for Small and Emerging Managers, Episode 3: Building the Next Gen Investment Advisor

Our third quarterly webinar covered Keys for Small and Emerging Managers to Stay Competitive in Transition. Planning for the future of your investment advisor is critically important to preserve enterprise value and to ensure good stewardship of clients. Our speakers share how small and emerging managers have successfully (and not so successfully) planned and… Read Full Post

April 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

Following the meaningful volatility of the prior quarter, markets were relatively muted in April.  The Russell 3000 Index finished the month with a return of +0.4%.  Small cap stocks led for the second month with the Russell… Read Full Post

March 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

The year began largely as the prior one had ended – with generally sanguine views on economic fundamentals leading to rationalization of asset valuations.  The boost of a significant fiscal stimulus in the form of US tax… Read Full Post

The Tax Cuts and Jobs Act | February 2018

Thoughts on the Implications of the Legislation

Major tax reform in the United States of America is often one the most widely debated topics in the halls of Congress. The 2017 tax reform bill (officially named the Tax Cuts and Jobs Act) has had its fair… Read Full Post

February 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

The beginning of February saw an acceleration of the market decline which had begun late the prior month. Concerns over rising interest rates and some profit taking in the high-flying Technology sector, paced the initial declines. Yields… Read Full Post

January 2018

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

The year began largely as the prior one had ended – with generally sanguine views on economic fundamentals leading to rationalization of asset valuations. The boost of a significant fiscal stimulus in the form of US tax… Read Full Post

December 2017

Kai W. Hong, CFA
Managing Partner & Chief Investment Strategist

The quarter started with the absence of any major economic or geopolitical news. That left investors to contemplate the generally sanguine and oddly complacent nature of the markets. In the US, the Republican tax plan was the… Read Full Post