By: Mason Wev, CFA®, CMT

Multi-Strategy Commentary
3Q 2021 — Supply-Driven Concerns Dampen Third Quarter
October 13, 2021

As the second and third quarters developed, the COVID-19 Delta strain, supply chain disruptions, a looming Fed taper, surging energy prices, and inflation fears, proved to be obstacles for the economy returning to its maximum potential.

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Global Tactical Commentary
3Q 2021 — Credit Markets Indicate Underlying Bullishness
October 13, 2021

2021 came in with a mighty roar, as during the first quarter alone, small-caps stormed to an 18% gain and outperformed the S&P 500 by 12%.

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Multi-Strategy Commentary
2Q 2021 — Record Setting Growth for Equities, but Inflation Concerns Abound
July 16, 2021

The first quarter saw the continuation of very strong equity markets, but the leadership profile has now changed.

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Global Tactical Commentary
2Q 2021 — Strong Economy And Fundamentals Should Fight Off Valuation Risks – For Now
July 16, 2021

Even though we have been living through the disruptive effects of a pandemic, markets and the economy have recovered beautifully from the initial shock in February and March of 2020.

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Global Tactical Commentary
1Q 2021 — Stocks Outperform Treasuries by Most Since 2009
April 13, 2021

Even though we have been living through the disruptive effects of a pandemic, markets and the economy have recovered beautifully from the initial shock in February and March of 2020.

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Multi-Strategy Commentary
1Q 2021 — Risk Appetite Remains Strong
April 13, 2021

The first quarter saw the continuation of very strong equity markets, but the leadership profile has now changed.

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Global Tactical Commentary
4Q 2020 — Valuations Point Towards 2021 Risks, But Credit Trends Remain Supportive
January 21, 2021

Market Recap The fourth quarter of 2020 began with a turbulent and corrective market in October as investors anxiously worried about…

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Multi-Strategy Commentary
4Q 2020 — 2020: Better for Our Money Than for Us
January 19, 2021

Market Recap 2020 is gone—and good riddance. It was a year of unprecedented turbulence, volatility, and vivid dangers to our financial,…

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Opportunity Update Commentary
3Q 2020— Coronavirus Pandemic Feeds Dislocations Between Winners and Losers
October 20, 2020

2020 has proven to be the one of the most turbulent and challenging years in recent memory and for many investors,…

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Multi-Strategy Commentary
3Q 2020 — Despite Election-Related Concerns, Pro-Cyclical Leadership Persists
October 14, 2020

2020 has been a massive roller coaster for investors, but the third quarter was mostly positive both in terms of market…

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Opportunity Update Commentary
2Q 2020— COVID-19 Feeds Dislocations Between Winners and Losers
July 22, 2020

Investors’ burgeoning hope and subsequent buying frenzies led to a massive 20% rebound in the S&P 500 and other risk assets…

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Multi-Strategy Commentary
2Q 2020 — Earnings Trough and Central Bank Support Points Towards More Potential Gains
July 14, 2020

After the first quarter’s pandemic-related crash, a market rebound during the second quarter was to be expected. Though that rally came…

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Opportunity Update Commentary
1Q 2020— Quick, Dramatic Pain, but Long-Term Opportunity
April 23, 2020

When we look at the title of our fourth quarter commentary, “2020 Should Be Highlighted By Stable Fed Policy & Election-Driven…

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Multi-Strategy Commentary
1Q 2020— Coronavirus Pain: “Essential” Versus “Non-Essential”
April 23, 2020

Who could have predicted that the first quarter of 2020 would go down in the record books as the worst first…

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Opportunity Update Commentary
4Q 2019— 2020 Should Be Highlighted by Stable Fed Policy & Election-Driven Opportunities
January 15, 2020

While 2018 featured rising interest rates and losses among virtually all major asset classes, 2019 was the polar opposite. Both stocks…

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Multi-Strategy Commentary
4Q 2019 — Failed Recession Fears Highlight 2019’s Climb of the Wall of Worry
January 15, 2020

2019 represented a tremendous turnaround year. As of January 4th, market psychology turned quickly and the Fed turned strongly dovish, which…

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Opportunity Update Commentary
3Q 2019— What Recession Worries? Stocks Enjoy Their Best First Three Quarters Since 1997
October 23, 2019

2019 has been a year of turbulent headlines for the markets, with the U.S./China trade war switching between hot and cold….

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Multi-Strategy Commentary
3Q 2019 — Exaggerated Emotions: Investing in a Late Market Cycle
October 14, 2019

Reading or watching the media in constant conflict regarding both the markets and politics must have an effect on a person’s…

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Multi-Strategy Commentary
2Q 2019 — Range of Outcomes as Wide as Ever — but Be Sure to Include a Continuing Bull Market
July 16, 2019

What a turnaround it has been for markets over the last six months. December saw a fierce decline driven by fears…

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Multi-Strategy Commentary
1Q 2019— Growing Late Cycle Concerns: V-Shaped Decline and Recovery
April 16, 2019

After a brief but stunning fourth quarter 2018 decline, markets staged a fierce comeback in the first quarter. It all started…

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