Google+ Followers

Tuesday, July 21, 2015

Weekly Update 7 18 15

This week's theme is relax.

Together with a culture of work, there must be a culture of leisure as gratification. To put it another way: people who work must take the time to relax, to be with their families, to enjoy themselves, read, listen to music, play a sport. Pope Francis


We will be more successful in all our endeavors if we can let go of the habit of running all the time, and take little pauses to relax and re-center ourselves. And we'll also have a lot more joy in living. Thich Nhat Hanh


"Relax. Refresh. Renew. Play. Sing. Laugh. Enjoy. Forgive. Dance. Love. Hug. Share. Kiss. Create. Explore. Hope. Listen. Dare. Trust. Dream. Learn. TODAY!"  Steve Maraboli

"Relax and refuse to let worry and stress rule your life. There is always a solution to every problem. Things will work out for you when you take time to relax, refresh, restore and recharge your soul."  Lailah Gifty Akita

My family and I had a chance to get away for a week this week to relax and recharge. Won't take a lot of time to write this weeks' update.

The best way to be relaxed as an investor is to make sure your comfortable with your investment allocation and that a professional is monitoring the investments. Have an investment review and then relax.



The S and P 500 index trended up this week. +2.41%
The Dow Jones World Index trended up this week. +1.91%
The 10 year Treasury Yield index trended down this week. -2.81%
The 10 year Treasury Price index trended up this week. +.24%
The CRB Commodities index trended down this week. -1.7%
The Gold Index trended down this week.  -2.67%
The US Dollar index trended up this week. 1.9%
Inflation Linked Bonds trended down this week.-.70%
US Aggregate Bond Index trended up this week. +.44%
The International Aggregate Bond Index trended down this week. -1.32%

The NCREIF Index is aggregated and reported quarterly and is a total return broad representation including rents and appraisal of non-traded Commercial Real Estate.


2014 2nd qtr + 2.91%

2014 3rd qtr + 2.63%

2014 4th qtr +3.04%

2015 1st qtr +3.57%



It pays to stay diversified and not chase prior winners!


Many investors take the wrong approach looking primarily at recent return.

Overall risk measures and managing downside risk play an increasing role in end results.

Investors instead should be focused on managing Dynamic Beta exposure, evaluation of Active Share, Sharpe ratios, Sortino ratios and Alpha.


Please forward this on to anyone who you think may be interested. 


The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. Decisions on making any investment should be made only subsequent to a thorough professional analysis of the overall individual financial picture and the goal for the investments. This writing is not to be construed as an offer of personal advice or an offer to follow any recommendation. Any investments should only be entered into after a thorough analysis from your personal Adviser and related to your current financial picture and goals.

Any investments can lose value. Diversification is not a guarantee against loss.

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. All decisions about investments should be made within parameters of risk, time frame, financial position and overall asset allocation.

Tuesday, July 14, 2015

Weekly Update 7 11 2015

This week's theme is facing fear.

"If you are pained by external things, it is not they that disturb you, but your own judgement of them. And it is in your power to wipe out that judgement now." Marcus Aurelius

"There is no illusion greater than fear." Lao Tzu

"Men are not afraid of things, but of how they view them."
Epictetus

"If you want to catch your dreams, you have to drop your fears." Anton Rubaclini

"I know a little something about fear, honey. I know what a relief it feels like to give into it at first. It's not hard to persuade yourself that you're doing the right thing-that you're making the smart, safe decision. But fear is insidious. It takes anything you're willing to give it, the parts of your life you don't mind cutting out, but when you're not looking, it takes anything else it damn well pleases, too."  Andrea Lochen,

We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light. Plato

The only thing we have to fear is fear itself. Franklin D. Roosevelt

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. Warren Buffett

Fear is a catalyst for bad decision making. Emotional decisions from either fear, uncertainty or what was coined as "irrational exuberance" seldom make for great outcomes.

This week in Greece and the European Union, China and even in our own financial markets there was some of this behavior exhibited. China restricted trading across its national exchange. For a seemingly unknown reason the Wall Street Journal, United Airlines and the New York Stock Exchange halted services for a period, this week. A technical glitch was blamed.

Nate Brammer in our offices recently wrote this piece on, not letting fear guide your decisions.

DO NOT LET FEAR DRIVE YOUR INVESTMENT DECISIONS     

I remember one of the first lessons I learned as a child regarding investing.  Bernice was much like a grandmother to me and my brothers and sister.  She was raised on a farm in NW Iowa and taught 3rd grade most of her career in Muscatine.  In actuality, she was the first cousin to my maternal grandfather, but she treated us like her own.  You can never have too many grandmothers. 

 
Bernice and I were visiting one afternoon and somehow the topic turned to investing.  She mentioned the stocks of companies she owned during the market crash of 1929 and the subsequent depression.  Many of the company names I remember being familiar.  I made the remark, "Wow, you must have lost a lot of money."  Bernice stopped, turned and looked at me quizzically.  She finally said, "I didn't lose any money.  I didn't sell."  So 50 years later, she planted a seed in me that has fully blossomed.  Do not let fear drive your investment decisions.

 
Fundamentals are the best driver of our investment decisions.  Having well thought out buy and sell strategies for our portfolios and being diversified among diversified asset classes, before the markets become turbulent, help us to adhere to those strategies through the turmoil.  Diversification will be our anchor through the economic storms. 

One of the more challenging things regarding investing is not being our own worst enemy.  Investing is enjoyable when our account values are increasing every quarter.  However, inevitably when the market becomes volatile or there is a significant downturn, many investors panic and head for the exits.  Investing is one of, maybe a few purchases, people will make fewer of as the price goes down and want more of as the price increases.  This behavior is counter to the old adage; "Buy low and sell high."  That is something we would never do when it comes to purchasing groceries or clothes.

 It is not often easy to set aside our emotions and make a rational decisions when on T.V. commentators are telling us that the sky is falling.  It is a better idea to access personalized advice.

 
Nate this week is at training this coming week and will earn his Accredited Investment Fiduciary designation. This will make a total of three AIF® designees in our office.

Marrs Wealth Management is committed to acting in the best interest of you, who put your trust and financial life under our care.



The S and P 500 index was flat this week.
The Dow Jones World Index trended down this week. -.77%
The 10 year Treasury Yield index trended up this week.
+1%
The 10 year Treasury Price index was flat this week.
The CRB Commodities index trended down this week. -2.81%
The Gold Index trended down this week.  -.63%
The US Dollar index trended down this week. -.18%
Inflation Linked Bonds was flat this week.
US Aggregate Bond Index trended down this week. -.14%
The International Aggregate Bond Index was flat this week.

The NCREIF Index is aggregated and reported quarterly and is a total return broad representation including rents and appraisal of non-traded Commercial Real Estate.


2014 2nd qtr + 2.91%

2014 3rd qtr + 2.63%

2014 4th qtr +3.04%

2015 1st qtr +3.57%



It pays to stay diversified and not chase prior winners!



Many investors take the wrong approach looking primarily at recent return.

Overall risk measures and managing downside risk play an increasing role in end results.

Investors instead should be focused on managing Dynamic Beta exposure, evaluation of Active Share, Sharpe ratios, Sortino ratios and Alpha.


Please forward this on to anyone who you think may be interested. 


The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. Decisions on making any investment should be made only subsequent to a thorough professional analysis of the overall individual financial picture and the goal for the investments. This writing is not to be construed as an offer of personal advice or an offer to follow any recommendation. Any investments should only be entered into after a thorough analysis from your personal Adviser and related to your current financial picture and goals.

Any investments can lose value. Diversification is not a guarantee against loss.

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. All decisions about investments should be made within parameters of risk, time frame, financial position and overall asset allocation.

Wednesday, July 8, 2015

Quarter End Update 7 3 2015

This week's theme is freedom.


"Our freedom can be measured by the number of things we can walk away from." Vernon Howard

"Free people, remember this maxim: we may acquire liberty, but it is never recovered if it is once lost." Jean-Jacques Rousseau

"Seek freedom and become captive of your desires. Seek discipline and find your liberty." Frank Herbert

"Order without liberty and liberty without order are equally destructive." Theodore Roosevelt
"It is difficult to free fools from the chains they revere."Voltaire

"For to be free is not merely to cast off one's chains, but to live in a way that respects and enhances the freedom of others." Nelson Mandela

The founders of our country and framers of our order of law were seeking to get out of what they perceived as a form of tyranny. Freedom did not mean absence of law and order but the ability to have a voice.
"Taxation without representation is tyranny" was the battle cry.

Still, we must all be under some form of governance. Every one demanding to be king and their word to be adhered to, without question by others, becomes tyrannical. On the other hand live and let live with no thought of the good of others doesn't work in families, sports, business, countries or the society of this world.

To be free we must live within acceptable boundaries.

We have free financial markets, but there is regulation. For the benefit of the client and the financial professional there must be oversight and governance.


There is a lot of oversight. However without the appropriate guidelines and adherence to the highest standards of care. Do you know if your Financial Representative will commit to acting as a Fiduciary on your behalf and that any possible conflicts of interest are clear divulged and explained!

Happy Independence Day!

Second Quarter 2015 Summary

S and P 500 Index below 50 day moving average nears 200 day moving average.





Sectors that were positive the second quarter of 2015 were Cyclicals, Health Care and Financials. 




News continues around Greek Debt and Bail Out. Remember- Too Big to Fail? Maybe not Greece, but Central Banks continue monetary easing while debt climbs. The hope is growth will ease the burden in the long term. Growth in the US has been anemic at best and many believe Monetary Policy has contributed to holding back growth rather than helping.


 
"Here is the debt in 2009 - mostly owed to private banks and bondholders:"


Here is the debt in 2015 - almost all was shifted onto the backs of taxpayers:

The winners of the second quarter of 2015 were inflation related assets commodities and inflation protected securities. The ten year Treasury Note yield rose by 18.95% last quarter.


The S and P 500 index is negative for the second quarter 2015. -1.11%
The Dow Jones World index is negative for the second quarter 2015. -.85%
The 10 year Treasury Yield index is positive for the second quarter 2015. +18.95%
The 10 year Treasury Price index is negative for the second quarter. -2.17%
The US Dollar index is negative for the second quarter 2015. -2.67%
The CRB Commodities index is positive for the second quarter 2015. +6.03%
The Gold index is negative for the second quarter 2015.  -1.16%
Global Inflation Linked Bonds are positive for the second quarter 2015. +2.96%
US Aggregate Bond index is negative for the second quarter 2015. -1.91%
The International Aggregate Bond index is positive for the second quarter 2015.  +.38%

The NCREIF Index is aggregated and reported quarterly and is a total return broad representation including rents and appraisal of non-traded Commercial Real Estate.

2014 2nd qtr + 2.91%

2014 3rd qtr + 2.63%

2014 4th qtr +3.04%

2015 1st qtr +3.57%



It pays to stay diversified and not chase prior winners!



Many investors take the wrong approach looking primarily at recent return.

Overall risk measures and managing downside risk play an increasing role in end results.

Investors instead should be focused on managing Dynamic Beta exposure, evaluation of Active Share, Sharpe ratios, Sortino ratios and Alpha.


Please forward this on to anyone who you think may be interested. You can view past weeks updates at;  



The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. Decisions on making any investment should be made only subsequent to a thorough professional analysis of the overall individual financial picture and the goal for the investments. This writing is not to be construed as an offer of personal advice or an offer to follow any recommendation. Any investments should only be entered into after a thorough analysis from your personal Adviser and related to your current financial picture and goals.

Any investments can lose value. Diversification is not a guarantee against loss.

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. All decisions about investments should be made within parameters of risk, time frame, financial position and overall asset allocation.







Thursday, July 2, 2015

Weekly Update 6 27 15

This week's theme is facing reality.

"Reality is merely an illusion, albeit a very persistent one." Albert Einstein

"Reality is that which, when you stop believing in it, doesn't go away." Philip K. Dick

"Thinking something does not make it true. Wanting something does not make it real." Michelle Hodkin

"Fiction reveals truth that reality obscures." Jessamyn West

"Life is not a problem to be solved, but a reality to be experienced." Søren Kierkegaard

"Reality is frequently inaccurate." Douglas Adams

"Nothing ever becomes real 'til it is experienced." John Keats

"Reality can be beaten with enough imagination." Mark Twain


What is it that derails an investment strategy? It is always the extremes. Efficient strategies to get from one point to another only work if the strategy is consistently followed. The current environment, it may be believed, is the environment that will continue to exist. In reality investments are cyclical in nature. Valuations of assets reach peaks and valleys.
The most successful investors buy when others are wary and values are depressed and sell when all looks fine and many are clamoring to buy.
Both sides of this reality require a long term view and a keen perspective on the reality of investment opportunity and risk.

Here is where investors make their biggest mistakes.

When the stock market declines over a long period of time Investors believe this will continue. This is when investors abandon stocks at a period when it may be prudent to rebalance allocations to increase stock exposure.

On the flip side when stocks run up significantly with little volatility it is believed this will always continue. Investors now increase their acceptable risk level, when they should be scraping profits and rebalancing their investment portfolios.
Let us show you that maintaining a well balanced and diverse investment strategy is the way to beat any one market.

It appears the US stock market may be overvalued and that a correction to lower levels may be in order.

This shouldn't mean get out of investments, it should mean be confident and persist in your well planned out and diversified investment strategy.
We are confident in the strategies we implement for our clients.
No one knows the future or the short term direction of the market.

What we do have a good idea about is how current valuations have been highly predictive future return levels.



"Valuation risk is the risk of overpaying for an asset. We believe it is the biggest risk faced by investors: buying expensive assets can doom an investor to low long-term returns or the permanent impairment of capital (see Exhibit 3)."








This week's theme is facing reality.

"Reality is merely an illusion, albeit a very persistent one." Albert Einstein

"Reality is that which, when you stop believing in it, doesn't go away." Philip K. Dick

"Thinking something does not make it true. Wanting something does not make it real." Michelle Hodkin

"Fiction reveals truth that reality obscures." Jessamyn West

"Life is not a problem to be solved, but a reality to be experienced." Søren Kierkegaard

"Reality is frequently inaccurate." Douglas Adams

"Nothing ever becomes real 'til it is experienced." John Keats

"Reality can be beaten with enough imagination." Mark Twain


What is it that derails an investment strategy? It is always the extremes. Efficient strategies to get from one point to another only work if the strategy is consistently followed. The current environment, it may be believed, is the environment that will continue to exist. In reality investments are cyclical in nature. Valuations of assets reach peaks and valleys.
The most successful investors buy when others are wary and values are depressed and sell when all looks fine and many are clamoring to buy.
Both sides of this reality require a long term view and a keen perspective on the reality of investment opportunity and risk.

Here is where investors make their biggest mistakes.

When the stock market declines over a long period of time Investors believe this will continue. This is when investors abandon stocks at a period when it may be prudent to rebalance allocations to increase stock exposure.

On the flip side when stocks run up significantly with little volatility it is believed this will always continue. Investors now increase their acceptable risk level, when they should be scraping profits and rebalancing their investment portfolios.
Let us show you that maintaining a well balanced and diverse investment strategy is the way to beat any one market.

It appears the US stock market may be overvalued and that a correction to lower levels may be in order.

This shouldn't mean get out of investments, it should mean be confident and persist in your well planned out and diversified investment strategy.
We are confident in the strategies we implement for our clients.
No one knows the future or the short term direction of the market.

What we do have a good idea about is how current valuations have been highly predictive future return levels.



"Valuation risk is the risk of overpaying for an asset. We believe it is the biggest risk faced by investors: buying expensive assets can doom an investor to low long-term returns or the permanent impairment of capital (see Exhibit 3)."



















Jeremy Grantham of GMO recently said, as reported in the Wall Street Journal: "Though "everyone is in a state of hysteria" over the thought of an interest-rate increase, it won't derail the markets' climb, he said. He noted that when the Fed raised rates eight times from early 2004 to early 2006, the market went up "all the time without missing a beat."

"Instead, the trigger will be "more umph in speculation and price," he said."
"To break the march toward what he termed "bubbleland," we'll have to wait until merger activity reaches "more of a frenzy" and individuals "become crazy buyers," Mr. Grantham said. But for now, individuals are buying a normal amount of shares, and no bubble has ever broken until individuals pour into the market, he said."

Reality:

US Assets could still go higher, they have been higher in the past. If valuations are effective predictors there may not be much room for reward based on risk/reward trade off?

It may pay to take some profits and move to less pricey areas of the globe?

Being widely diversified is always a good idea.

Investors may want to look toward other asset class investments outside of traditional stocks and bonds. There are plenty of alternative asset class investments, and alternative investment strategies, that could prove effective in reducing overall portfolio risk and possibly increase overall return.



The S and P 500 index was trended down this week -.40%.
The Dow Jones World Index trended up this week. +.12%
The 10 year Treasury Yield index trended up this week.
+9.22%
The 10 year Treasury Price index trended down this week.
-1.4%
The CRB Commodities index trended up this week. +1.24%
The Gold Index trended down this week.  -2.22%
The US Dollar index trended up this week. +1.4%
Inflation Linked Bonds trended down this week. -1.35%
US Aggregate Bond Index trended down this week. -.88%
The International Aggregate Bond Index trended down this week.  -2%

The NCREIF Index is aggregated and reported quarterly and is a total return broad representation including rents and appraisal of non-traded Commercial Real Estate.


2014 2nd qtr + 2.91%

2014 3rd qtr + 2.63%

2014 4th qtr +3.04%

2015 1st qtr +3.57%



It pays to stay diversified and not chase prior winners!


Many investors take the wrong approach looking primarily at recent return.

Overall risk measures and managing downside risk play an increasing role in end results.

Investors instead should be focused on managing Dynamic Beta exposure, evaluation of Active Share, Sharpe ratios, Sortino ratios and Alpha.


Please forward this on to anyone who you think may be interested. You can view past weeks updates at;  

www.marrswealthmanagement.blogspot.com


The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. Decisions on making any investment should be made only subsequent to a thorough professional analysis of the overall individual financial picture and the goal for the investments. This writing is not to be construed as an offer of personal advice or an offer to follow any recommendation. Any investments should only be entered into after a thorough analysis from your personal Adviser and related to your current financial picture and goals.

Any investments can lose value. Diversification is not a guarantee against loss.

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. All decisions about investments should be made within parameters of risk, time frame, financial position and overall asset allocation.




Tuesday, June 23, 2015

Weekly Update 6 20 2015

This week's theme is good faith; fiduciary care.

"The principle of acting in good faith is at the heart of decent work." Richard Eyre

"Observe good faith and justice toward all nations. Cultivate peace and harmony with all." George Washington

"Our first responsibility is to protect the American people and we cannot put on blinders to expect that everyone who seeks asylum does so in good faith." Bill Shuster

"The foundation of justice is good faith." Cicero

"The best security of the fidelity of men, is to make interest coincide with duty. Alexander Hamilton

Everyone in Iowa, or Ames at least, has been watching and talking about basketball news the past month. One favorite son gets a high profile NBA coaching job and another wins his first NBA championship ring.

Another piece of basketball news was about a high profile player accusing a Financial Advisor of stealing twenty million dollars.

Who do you trusts and how can you know?

Here are the criteria I would look for.

1.   Training: Do they have or are they being supervised under someone who has advanced training? A Certified Financial Planner®, Chartered Financial Consultant®, Accredited Investment Fiduciary® or other recognized accreditations?

2.   Experience: Do they have experience in good and more difficult market environments? Or they are supervised by someone who does.

3.   Will they commit to acting in your best interest as a fiduciary? Unless they are fee only and not connected through compensation arrangements to a third party, they have inherent conflicts of duty. These conflicts might include commission payments from product providers, proprietary product offerings from the firm that pays them a salary or other forms of compensation. In any event, if they are receiving compensation from someone else, and not you; then their primary responsibility is to someone else and not you.

4.   Finally, I would say they should not acquire custody of your assets or have withdrawal power of your assets. An Investment Advisor should safeguard the client's assets from theft by using third party custodians, and only having limited powers of appointment to perform transactions such as trading and receiving fees.

Marrs Wealth Management fits all of these criteria.
If you know of others who are looking for a trusted Financial Advisor, share these guidelines with them.




"Is your advisor a fiduciary? Chances are, you have no idea"
Andrew Osterland writes; "Financial advisors are currently regulated under two different standards of conduct.
Investment advisors registered with the SEC or a state securities regulator are fiduciaries, subject to the duty of loyalty and due care with their clients. They are typically compensated by asset management fees and are expected to act in the best interests of their clients. If they don't, they can be sued in a court of law."
"Stockbrokers, broker-dealer representatives, insurance agents and others who provide investment advice, on the other hand, are regulated by the private-sector organization Financial Industry Regulatory Authority (FINRA) or by state insurance regulators and are subject to a "suitability" standard of conduct." 
"Their investment recommendations must be suitable for investors based on their financial profiles, but those advisors are not required by law to act in their clients' best interest. They are often compensated by commissions on transactions that can put them in conflict with the interests of their clients."
"The value proposition of a live advisor involves much more than asset allocation and security selection. It's about understanding people's goals and helping them achieve desired outcomes."-Kurt Schacht, managing director of Standards and Financial Market Integrity at the CFA Institute"


Sometimes you need to look more deeply than what is said! CNBC put out a list of top fee only advisors recently, a deeper look revealed that 9 of the top 10 were not really fee only.



"CNBC Top-Fee Only Firms Fail Fee-Only Requirements"
"As a part of the registration requirements for an RIA, all firms must submit Form ADV, a public disclosure document which includes, in "Part 2", an explanation under "Item 10" of "Other Financial Industry Activities and Affiliations". This disclosure documentation must be provided to new updates (along with annual updates thereof), and is publicly available to anyone through the Investment Adviser Public Disclosure (IAPD) search database."
"Accordingly, I looked up the Form ADV Part 2 disclosures for each of the top 10 firms in CNBC's list of top Fee-Only firms, with the remarkably simple approach of just searching for the word "insurance" and seeing what came up in Section 10 on disclosed affiliates. Here's what I found (in order of the top-10 ranking on CNBC's list), quoted directly from the companies' Form ADV Part 2 documents."



"Michael Kitces is calling CNBC out on the carpet for allegedly misleading the investing public by calling advisors "fee-only" when they may indirectly receive compensation from commissions."
"In a hard-hitting article published yesterday on his blog, Nerd's Eye View, the industry guru questioned the integrity of the New York-based news giant's list of top 100 rated fee-only wealth management firms."
"Kitces's allegations are based on his vetting of the SEC documents of the first 10 entries on the list."
"A deeper look at the Form ADV Part 2 disclosures of just the top 10 firms on CNBC's 'fee-only' list reveals that nine out of 10 of them share in insurance commissions, own an insurance agency, or are under common ownership alongside an insurance affiliate to which advisory clients are referred. In other words, nine out of 10 of CNBC's "Top Fee-Only" firms are not actually fee-only," Kitces writes in his blog."
"Granted, there are also a lot of issues out there right now of firms holding out as fee-only when they're not," he says in an interview. "But in this case, CNBC took pains to point out that their list was not based on advisor submissions, but their own third-party selection process. Which makes it all the more concerning that CNBC didn't vet the form ADVs of the RIAs first, to see all the related insurance entities. And it's not that hard to do. The information is all public. I looked up the firms, searched for their insurance details, and wrote that entire article in under two hours and spotted the issues." See: The SEC needs to clean up its semantics before accusing RIAs of inflating AUM."

It is important to get professional advice for investment success.
More important it is essential to get un-conflicted advice that is in your own best interest.
A recent Supreme Court case decided that it was a breach of Fiduciary duty to not monitor a client's investments. Do you believe a person that is not being paid a fee to manage your investments is monitoring those investments?



The S and P 500 index was trended up this week +.75%.

The Dow Jones World Index trended up this week. +.25%
The CRB Commodities index trended down this week. -.63%
The Gold Index trended up this week.  +1.8%
The US Dollar index trended down this week. -.70%
The 10 year Treasury Yield index trended down this week.
-4.95%
The 10 year Treasury Price index trended up this week.
+1.03%
Inflation Linked Bonds trended up this week. +.65%
US Aggregate Bond Index trended up this week. +.52%
The International Aggregate Bond Index trended up this week.  +.63%

The NCREIF Index is aggregated and reported quarterly and is a total return broad representation including rents and appraisal of non-traded Commercial Real Estate.


2014 2nd qtr + 2.91%

2014 3rd qtr + 2.63%

2014 4th qtr +3.04%

2015 1st qtr +3.57%


It pays to stay diversified and not chase prior winners!


Many investors take the wrong approach looking primarily at recent return.

Overall risk measures and managing downside risk play an increasing role in end results.

Investors instead should be focused on managing Dynamic Beta exposure, evaluation of Active Share, Sharpe ratios, Sortino ratios and Alpha.


Please forward this on to anyone who you think may be interested.  

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. Decisions on making any investment should be made only subsequent to a thorough professional analysis of the overall individual financial picture and the goal for the investments. This writing is not to be construed as an offer of personal advice or an offer to follow any recommendation. Any investments should only be entered into after a thorough analysis from your personal Adviser and related to your current financial picture and goals.

Any investments can lose value. Diversification is not a guarantee against loss.

The above is for informational purposes only and not an offer or recommendation to buy or sell. Past performance is no guarantee of future return. All decisions about investments should be made within parameters of risk, time frame, financial position and overall asset allocation.