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Asset Class Research

In-depth investment research and commentary from Litman Gregory and our Research Alliance

Jul 10, 2017 Research Alliance Misperceiving Risk and Pricing for Perception—Thornburg Investment Management

Low Treasury yields and high equity prices aren’t necessarily contradictory. Both suggest expectations of continued unexciting growth, low inflation, and a steady Federal Reserve. What could go wrong?

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Jul 06, 2017 Research Alliance Rally in Emerging-Market Equities Peaking, or Just Beginning?—Thornburg Investment Management

Wondering if you've missed the opportunity to establish or build exposure to the asset class? It appears the cycle tailwinds lifting developing-country stocks have just begun.

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Jul 06, 2017 Research Alliance Does It Make Sense that Both Stock and Core Bond Prices are Higher This Year?

Both stocks and bonds have performed well so far this year. Bonds seem to be responding largely to recent declines in inflation (inflation is the enemy of bondholders), while stock investors have had plenty of reasons to propel prices higher, including tame but near-target inflation. We don't see this current state as sustainable for very long—something has to give.

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Jul 05, 2017 Research Alliance Bank Loans Beat High-Yield Amid Rising Rates? Don’t Bank on It—Thornburg Investment Management

The conventional wisdom about bank loans' interest rate protection and security needs a credit check.

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Jun 26, 2017 Putting Bonds to Work in Our Portfolios

Flexible bond funds and floating-rate loan funds continue to make up over half of our clients’ fixed-income exposure. We anticipate their returns will far exceed those of core bonds, and recent portfolio performance has borne this out.

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Jun 19, 2017 Research Alliance Ready or Not: Considering Chinese A-Shares—Parametric Portfolio Associates

Our emerging-markets expert, Dr. Tim Atwill, demystifies China A-shares and what they actually add to portfolio exposures. Read our expanded views on this decision, and, as always, please contact us with any questions or if you would like to discuss.

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Jun 01, 2017 Research Alliance Find the Optimal Blend For Your Client—Parametric Portfolio Associates

How much should I allocate to core? Our Core-Satellite Calculator allows you to identify the optimal blend.

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May 16, 2017 Europe Is An Improving Story

Here are three reasons to stop discounting European stocks: green shoots, growing bottom lines, and good value.

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May 01, 2017 Research Alliance Baron Fifth Avenue Growth Fund Letter—First Quarter 2017

Baron Fifth Avenue Growth Fund first quarter 2017 letter from portfolio manager Alex Umansky.

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May 01, 2017 Research Alliance Baron Growth Fund Letter—First Quarter 2017

Baron Growth Fund first quarter 2017 letter from portfolio manager Ron Baron.

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