Research & Insights

Our investment decisions flow from incisive perspectives.

Category: Market Commentary

Q2 2019

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

In a seesaw market, much of the action was driven by investor perspectives on and news from trade disputes and central bank signaling.  Concerns over trade and a slowing macroeconomic growth outlook weighed on sentiment at… Read Full Post

Q1 2019

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

While significant, the drawdown and market pessimism seen at the end of 2018 was as short-lived as it was dramatic.  A somewhat abrupt about-face from the US Fed from prior hawkishness to moderate dovishness was enough… Read Full Post

December 2018

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

After three quarters in which a host of geopolitical uncertainties and slowing global economic growth saw investors continue to boost US equities at the expense of everything else, the combination of increasing political dysfunction in the US… Read Full Post

November 2018

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

Trade and geopolitical uncertainty continued to be on the forefront of investors’ minds in November. Although many markets (most notably emerging markets) posted positive returns for the month, the path to those gains was anything but smooth.… Read Full Post

October 2018

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

October was host to a broad-based market decline as concerns over trade and uncertainty around the outcome of the impending US mid-term elections caused investors to reassess their positioning. The Russell 3000 Index finished the month with… Read Full Post

September 2018

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

Trade was once again the most conspicuous concern for the markets in the quarter. With the posturing from each party becoming more and more confrontational, it was hard to see any “winners” emerging for all the “losses”… Read Full Post

August 2018

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

August saw the continued dominance of the US markets. The Russell 3000 Index finished the month with a return of +3.5%. Smaller cap stocks led on increased risk appetite and a perception that they were more insulated… Read Full Post

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

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