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Market Outlooks
South Korean Stocks: Has the Luster Faded After a Strong Finish to 2020?
Gareth Lyons and Nabil Salem discuss the somewhat unusual South Korean stock market--unusual in that, this tech-dominated market remained attractively priced until recently. Lyons and Salem review the recent valuation history of this market, analyze drivers of outperformance in 2020, and summarize their current views on South Korea as an asset allocation opportunity.
Behavioral Finance
Rules as Tools: Using Heuristics to Help Empower Financial Success
People often use simple mental shortcuts, also called heuristics, when they make everyday decisions. But can these rules of thumb improve financial well-being? We studied commonly used rules of thumb in four financial categories (saving, spending, investing, and debt management).
Market Outlooks
Weekly Market Compass: The economy may not truly turn the page until spring
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It might be 2021, but it doesn’t feel like a new year in many parts of the world. We haven’t yet turned the page on all the difficulties of the past year, so it seems like we are stuck in 2020. Or as my colleague aptly put it, this is just Dec. 49, 2020.
Market Outlooks
Congressional Review Act: Democrats Leave Key Regulatory Tool On Table—Why?
Many Democrats on Capitol Hill, and the party’s left flank, are itching to eliminate the legislative filibuster in order to get the Biden agenda into law.
Macroeconomic & Geopolitical
The Coming Infrastructure Package Could Have Significant Tax Implications
President Joe Biden has made it clear his next priority, after signing a $1.9 trillion COVID-19 relief bill into law last week, is a massive infrastructure package.
Market Outlooks
Weekly Market Compass: Seven reasons I expect a powerful US economic recovery in 2021.
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I periodically walk into stores to get a sense of how the US economy is doing. This past weekend I walked into a car dealership in my area. I chatted with a car salesman who has worked in the industry for more than 50 years. He shared that this is a very strange economic environment — car purchases have increased (he had already sold four cars that day), but so have the number of people stopping by to see if there are any job openings, who say they’ve been out of work for six or nine months.
Market Outlooks
Weekly Market Compass: Stocks were hit last week in the face of inflation fears, but I believe it was a temporary adjustment to a rise in rates.
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Last week was what I would call a “Rip Van Winkle” week. Set in the colonial days of America, Rip Van Winkle is the story of a man who, sick of his wife, decides to go for a hike in the mountains with his dog. He meets a group of strange men who offer him an unusual drink, causing him to fall asleep.
Market Outlooks
Earmarks Make A Comeback
We look at the return of earmarks and how each party feels about it.