There are a few mutual funds and exchange-traded funds that attempt to mirror portfolios of big hedge fund managers like Carl Icahn and Warren Buffett, but they are using information from regulatory filings that are 90 days old, so both the markets and the portfolios have already shifted. I am proud to have been selected as one of the first managers to participate in a new, cutting edge platform that replicates private funds in real-time:
Author Archives: Kathryn
Apple, Alibaba and the Economy
Yesterday there was an important bit of news released that was eclipsed by a couple of other stories. Masses of people, who had been lined up for days, were finally welcomed into Apple stores yesterday morning by cheering employees ready to sell the new iPhone 6. Hoards of interviews with everyday-people plastered media outlets as in-depth coverage gathered reactions about the new product. The store in Manhattan on 5th Avenue was still mobbed at 9:30 last night when I walked past after dinner:
Hundreds Wait Outside Apple Store for iPhone 6 – The Store is Currently Open 24X7
Alibaba, the Chinese online marketplace, initiated trading mid-morning on the New York Stock Exchange, marking the largest global initial public offering in history. Jack Ma traversed the media circuit, working to instill trust and explain away his last-minute rug-jerk from under Yahoo! and other owners when he pulled AliPay from the offering, creating a juicy story for all channels.
In the meantime, a quiet but important news release came yesterday morning from the non-profit Conference Board. The Leading Economic Index (LEI) in the U.S. rose in August by 0.2%, continuing its 5 year upward march. The LEI is designed as a forward-looking indicator that signals changes in the economy. This bodes well for our economy and markets going forward. Sometimes it is good to combine the energy of high-profile stories with more level-headed, quiet data to confirm that the enthusiasm is well-founded.
© 2014 Pawleys Investment Advisors, LLC. All rights reserved.
Is a Hurricane Headed for the Markets?
The quiet, beautiful coast of South Carolina is at its best during the autumn months. But thousands of miles offshore, warm waters of the Atlantic Ocean and winds created by the rotation of the earth join forces to create tropical cyclones, with the potential to advance into full blown hurricanes heading for shore. So are there unforeseen forces converging to threaten the current bull market in U.S. equities? We think not.
During the month of July, the Leading Economic Index1 rose 0.9%, continuing its longstanding upward march. The LEI is designed to signal the strength of the economy 6-12 months in the future. The U.S. Treasury yield curve remains “normal,” with short-term rates lower than long-term rates, indicating that the economy is healthy. The market has shrugged off geopolitical turmoil in Russia and the Middle East, staving off any meaningful correction for over two years. Underlying corporate earnings remain healthy, supporting current historical valuation levels of the equity markets.
We believe that regardless of market conditions, investors should focus on building well-diversified portfolios of high-quality stocks. We focus on companies with low-debt and solid earnings growth, and work to optimize performance and minimize volatility by extending holding periods. Systematic investing is critical for success, whether or not there is trouble stirring in the distance.
Source: The Conference Board.
© 2014-2015 Pawleys Investment Advisors, LLC. All rights reserved
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