The Joseph Group

Wealth Notes: Inform

Wealth Notes is a regular digest provided to you: our valued clients and friends. Our goal with each issue of WealthNotes is to provide you with two perspectives on wealth: one that aims to inspire and the other that aims to inform.

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  • Lunch With A Market Strategist

    April 4, 2019

    To Inform:  Earlier this week, Fidelity Investments hosted a lunch with a senior member of their Capital Market Strategy Group to provide their views on the markets.  I (Travis) had the privilege of attending the lunch and it was a terrific opportunity to consider how Fidelity’s thoughts on markets line up with how we are […]

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  • 2019 March Portfolios at Panera Recap

    March 28, 2019

    To Inform: At this week’s Portfolios at Panera, TJG’s Portfolio Manager, Aaron Filbeck, led our discussion that focused on one dimension of the portfolio construction process: active vs. passive management in The Joseph Group’s objective-based portfolios. As a quick refresher, the primary objective of a passive manager is to replicate the performance of an index, […]

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  • Would You Give Me Some Credit?

    March 20, 2019

    To Inform:  Earlier this week, JP Morgan released its Global Asset Allocation Views for the 2nd quarter.  Overall, JP Morgan is slightly defensive in their views and recommend a slight overweight to bonds and a slight underweight to stocks as they expect markets to remain “range-bound” in the months ahead.  As we read through their […]

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  • 6th Annual Ohio Institutional Investment Forum

    March 14, 2019

    To Inform: Earlier this week, three members of The Joseph Group team (Mark Palmer, Aaron Filbeck, and Travis Upton) attended the 6th Annual Ohio Institutional Investment Forum.  The event largely consisted of panel discussions of Chief Investment Officers and Portfolio Managers from organizations such as The State Teachers Retirement System of Ohio, the Cleveland Clinic, […]

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  • Beware the Ides of March?

    February 27, 2019

    To Inform:  The global stock market has had a terrific start in 2019, with the MSCI All Country World Index returning over 7% in January and adding to those gains in February.  The key question on investors’ minds is “will the stock market gains continue?” As we discussed at a recent “Portfolios and Pints” event, […]

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  • Stocks Up but Earnings Estimates Down – What Gives?

    February 21, 2019

    To Inform:  So far in 2019, stock prices have gone up but analyst estimates of corporate earnings across the world have been declining.  The chart below looks at MSCI World (the entire global stock market) earnings estimates for 2019.  Since October, the estimate for global earnings has fallen from about $144 per share to $137 […]

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  • A “Tail” of Two Markets

    February 14, 2019

    To Inform:  The S&P 500 rebounded +7.9% in January after a large drawdown of -9.2% in December. Those are some big numbers for one month periods, but neither should really be considered “normal.” Source: Payden & Rygel   The chart from Payden & Rygel is a nice visual of the historical monthly returns dating back […]

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  • January’s Portfolios at Panera Discussion Recap

    February 6, 2019

    To Inform:  At last week’s Portfolio’s at Panera event, we asked the attendees to be Portfolio Managers for the morning.  Each client/friend of The Joseph Group was given a worksheet and was asked if they were managing an investment portfolio, whether they would be “Overweight,” “Underweight,” or “Neutral” across four primary asset classes.  The discussion […]

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  • Where is Market Leadership in the January Rally?

    January 24, 2019

    To Inform:  So far in 2019 the market for stocks and other risky assets has rallied and is beginning to recoup losses from late last year after ending 2018 with the worst December for the S&P 500 since 1931.  In the Joseph Group’s Investment Strategy Team meetings, we often like to look below the surface […]

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