momentum

Global Asset Allocation Update

By |2018-08-02T09:20:03+00:00August 1st, 2018|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Investing, Markets, Real Estate, Stocks|

The risk budget is unchanged again this month. For the moderate risk investor, the allocation between bonds and risk assets is evenly split. The only change to the portfolio is the one I wrote about last week, an exchange of TIP for SHY. Interest rates are on the rise again, the 10-year Treasury yield punching [...]

Global Asset Allocation Update

By |2018-05-15T17:53:08+00:00May 15th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Investing, Markets, Real Estate, Stocks|

The risk budget changes this month as I add back the 5% cash raised in late October. For the moderate risk investor, the allocation to bonds is still 50% while the risk side now rises to 50% as well. I raised the cash back in late October due to the extreme overbought nature of the [...]

Global Asset Allocation Update: The Certainty of Uncertainty

By |2018-04-16T09:33:49+00:00April 13th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Markets, Stocks|

There is no change to the risk budget this month. For the moderate risk investor, the allocation to bonds is 50%, risk assets 45% and cash 5%. Stocks continued their erratic ways since the last update with another test of the February lows that are holding - for now. While we believe growth expectations are moderating [...]

Global Asset Allocation Update: Tariffs Don’t Warrant A Change…Yet

By |2018-03-09T11:28:10+00:00March 9th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Economy, Global Asset Allocation Update, Investing, Markets, Politics, Stocks|

There is no change to the risk budget this month. For the moderate risk investor the allocation to bonds is 50%, risk assets 45% and cash 5%. We have had continued volatility since the last update but the market action so far is pretty mundane. The initial selloff halted at the 200 day moving average [...]

Global Asset Allocation Update:

By |2018-02-07T17:14:32+00:00February 7th, 2018|Alhambra Research, Bonds, Commodities, Currencies, Global Asset Allocation Update, Investing, Markets, Stocks|

There is no change to the risk budget this month. For the moderate risk investor the allocation to bonds is 50%, risk assets 45% and cash 5%. Despite the selloff of the last week I don't believe any portfolio action is warranted. While the overbought condition has largely been corrected now, the S&P 500 is [...]

Global Asset Allocation Update

By |2017-10-26T19:49:01+00:00October 26th, 2017|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Global Asset Allocation Update, Investing, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

The risk budget this month shifts slightly as we add cash to the portfolio. For the moderate risk investor the allocation to bonds is unchanged at 50%, risk assets are reduced to 45% and cash is raised to 5%. The changes this month are modest and may prove temporary but I felt a move to [...]

Global Asset Allocation Update: Step Away From The Portfolio

By |2017-09-22T14:35:31+00:00September 22nd, 2017|Alhambra Research, Bonds, Commodities, Currencies, Economy, Federal Reserve/Monetary Policy, Global Asset Allocation Update, Investing, Markets, Real Estate, Stocks, Taxes/Fiscal Policy|

There is no change to the risk budget this month. For the moderate risk investor, the allocation between risk assets and bonds is unchanged at 50/50. There are no changes to the portfolios this month. The post Fed meeting market reaction was a bit surprising in its intensity. The actions of the Fed were, to [...]