Research & News
Keller Quarterly (July 2024)
Letter to Investors | PDF We are in a season when the average investor is not thinking much about the normal factors of investment risk and return, such as interest rates or economic growth. Investors are now focused on politics, first and foremost. This is understandable, and not just because this is a presidential election… Read More »
Asset Allocation Quarterly (Third Quarter 2024)
by the Asset Allocation Committee | PDF Domestic economic growth is expected to be solid on continued supply chain rearrangement, the resulting domestic industrial production, and supportive fiscal stimulus. There is no recession in our forecast. With the Fed remaining data-dependent regarding the fed funds rate, we believe the likelihood is diminishing for multiple rate… Read More »
Asset Allocation Bi-Weekly – A New Factor for Gold Prices (July 15, 2024)
by the Asset Allocation Committee | PDF The standard regression model is as follows: Y = α +β(X) + ε Where Y is the dependent variable, X is the independent variable, α is the intercept, β is slope and ε is the error term. No model, no matter how many independent variables are added, can… Read More »
Bi-Weekly Geopolitical Report – The EU Parliamentary Elections: New Strength for the Right (July 1, 2024)
by Patrick Fearon-Hernandez, CFA | PDF In early June, voters across Europe cast ballots for their representatives to the European Parliament, an institution likely unfamiliar to most Americans. Even among the few who may know of it, we suspect many don’t really understand it or other top European Union institutions. In this report, we offer… Read More »
Asset Allocation Bi-Weekly – Small Caps and the Hope for a Soft Landing (June 24, 2024)
by the Asset Allocation Committee | PDF They don’t call him Maestro for nothing. In the mid-1990s, Federal Reserve Chair Alan Greenspan achieved what was once thought of as impossible: an economic soft landing. As the US labor market showed signs of tightening, he raised interest rates from 3% to 6% in 1994 to preemptively… Read More »