EWM Weekly Capital Market Highlights for Week Ended 11/16/2018

By | Financial Markets & Economy, Weekly Capital Market Updates

WEEKLY CAPITAL MARKET HIGHLIGHTS:

  • Among equities, small caps essentially matched the return of large caps; growth stocks under performed value stocks; international stocks outperformed US stocks; and emerging markets beat developed markets.
  • Treasury yields fell. The yield on the US 10-year Treasury Note ended the week at around 3.1%.
  • Commodity indices rebounded. Although crude oil prices plunged, most other commodity prices rose.
  • Dollar indices declined. After reaching an 18-month high early in the week, the dollar ended the week lower against most other currencies.
  • Among major economic data, October headline CPI rose 2.5% year over year, matching expectation; October core CPI rose 2.1% year over year, slightly below expectation; October retail sales surged, jumping 0.8% from September.

Click here to download the complete weekly report: EWMWeeklyReview 11.16.18

Endowment Index™ Falls 0.43% For Week Ended 11/16/2018

By | Endowment Index™

The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,205.47 today, falling 0.43% from last Friday’s close of 1,210.65.

The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $500 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 30,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.

Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ended 11/09/2018

By | Financial Markets & Economy, Weekly Capital Market Updates

WEEKLY CAPITAL MARKET HIGHLIGHTS:

  • Stocks pushed higher in US equity markets despite a moderate pullback on Friday, whereas growth and value stocks produced similar results. Meanwhile, large cap outperformed small cap stocks. Non-US developed equities also rose for the week, albeit to a lesser degree than their US counterparts, and value outperformed growth stocks. In emerging markets, stocks were slightly lower for the week, as Latin American equities sold off sharply, led by Brazil, which was one of the worst-performing markets around the globe.
  • Treasury yields were stable for the week, as the curve slightly flattened. Yields shorter than 10 years rose marginally, whereas yields on the 20- and 30 year notes fell. Overall, moves in the yield curve were muted, as the Fed decided to hold rates steady, with one more meeting to come before the end of the year.
  • Commodity prices retreated during the week, led by a sharp drop in the price of oil. In fact, oil entered bear market territory, as it was down 21% from its October highs. Global economic growth concerns have dampened the demand outlook and have left market participants searching for a bottom.
  • Volatility declined significantly during the week, as the CBOE Volatility Index (VIX) fell more than 10%. The US dollar was slightly higher for the week.
  • Consumer sentiment remained high in the US. The University of Michigan Index of Consumer Sentiment was 98.3 in November, which was down from 98.6 in October.

Click here to download the complete weekly report: EWMWeeklyReview 11.9.18

Endowment Index™ Falls Slightly For Week Ended 11/9/2018

By | Endowment Index™

The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,210.65 on Friday, falling 0.04% from the previous Friday’s close of 1,211.12.

The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $500 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 30,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.

Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ended 11/02/2018

By | Financial Markets & Economy, Weekly Capital Market Updates

WEEKLY CAPITAL MARKET HIGHLIGHTS:

  • US and global equities rallied this week after a very disappointing October. US small caps were up 4%, and large caps rose roughly 3%. Europe also rallied more than 3%. Latin America was the laggard for the week, up a little more than 1%, despite a rally of more than 11% in Argentina and nearly 3% in Brazil.
  • Treasury yields move higher. Treasury yields were four to six basis points higher through Thursday for maturities greater than one year. Friday’s jobs report pushed yields another four to five basis points higher.
  • The US Dollar Index ended the week slightly lower. The index rallied through the middle of Wednesday, then sold off sharply Thursday, erasing the week’s gains.
  • Crude oil had its worst week since February, down roughly 2.5%, as the US is expected to announce exemptions for eight countries to continue buying oil from Iran, after US sanctions are applied later this year.
  • Among other economic data released this week: Housing prices were nearly unchanged for the three month period ending August and up 5.5% for the trailing year. Motor vehicle sales topped 17.5 million in October, slightly higher than in September and the best monthly number since last November. October’s employment report is strong across the board. The Department of Labor estimates that 250,000 new jobs were created in October. Every industry group added new jobs, including the beleaguered retail sector. Hourly wages were up 0.2% in the month and, notably, crossed the psychologically important 3.0% level for the trailing 12 months. The strong overall report, and particularly the solid wage growth, makes a December rate hike by the Fed all but certain.

Click here to download the complete weekly report: EWMWeeklyReview 11.2.18

Endowment Index™ Gains 2.18% for Week Ended 11/2/2018

By | Endowment Index™

The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,211.12 today, rising 2.18% from last Friday’s close of 1,185.26.

The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $500 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 30,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.

Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

The Value of Multi-Generational Family Meetings

By | Estate Planning, Family Office

EXECUTIVE SUMMARY

The decisions families make about their wealth—how to manage, transfer and spend it—can lead to serious conflicts among family members. With affluence comes the risk of family in-fighting that can damage a family’s financial position and even ruin intra-family relationships forever. The good news: It doesn’t have to be that way.

This month’s Flash Report, The Value of Multigenerational Family Meetings, reveals a formal process used by ultra-wealthy families to educate heirs and potential heirs about sound financial decision-making, to identify shared family financial values and to maintain (and grow) family wealth in a unified and harmonious manner. Read More

Do I “lose” money by waiting to take Social Security?

By | Retirement, Social Security

Executive Summary

Many retirees choose to take their social security benefit as soon as possible at age 62. But is this the right decision? We all know that the longer you wait to get started, the larger your monthly payment will be. In fact, for every year you wait, you earn an 8% increase in the monthly benefit payment. But for those who DO choose to wait, the missed monthly payments can begin to add up (in their mind), which can cause some uncertainty and have retirees asking the question: “Am I losing money by not taking my Social Security benefit payment?” Read More

Endowment Index™ Posts Loss For Week Ended 10/26/2018

By | Endowment Index™

The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,185.26 on Friday, falling from the previous Friday’s close of 1,213.01.

The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $500 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 30,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.

Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ended 10/26/2018

By | Financial Markets & Economy, Weekly Capital Market Updates

WEEKLY CAPITAL MARKET HIGHLIGHTS:

  • US equity markets pushed lower, with all major equity asset classes down for the week. Smaller caps outperformed larger capitalization stocks, and growth generally outperformed value. Within international equities, emerging markets outperformed both domestic and international developed markets.
  • Treasury yields fell, as investors fled to safety on concerns of market volatility and the economy. The yield on the 10-Year US Treasury Note traded at 3.07% on Friday afternoon.
  • Commodities declined, with the Bloomberg Commodity Index falling 1.3%. Within the index, oil prices turned higher Friday, but were still down for the third week in a row, as global demand concerns weighed on future energy demand.
  • In other economic news, US unemployment claims rose last week, in part due to slowdown effects after hurricanes Florence and Michael. However, the unemployment rate remains near a 45-year low, at 3.7%.

Click here to download the complete weekly report: EWMWeeklyReview 10.26.18