David Templeton Blog | Talkmarkets | Page 1
Portfolio Manager & Principal, HORAN Capital Advisors
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David Templeton, Portfolio Manager & Principal, is a senior strategist and advisor at HORAN Capital Advisors. David has extensive experience in portfolio construction, security selection,development of investment policies and portfolio allocation strategies for individual and institutional ... more


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Equity Corrections Will Occur Again, Maybe Sooner Than One Expects
If there is one factor that perplexes me about the current market environment it is the lack of volatility since the election. The last time the market experienced a greater than 5% correction was in June of 2016.
If History Repeating Itself; Another Five Years For Equity Bull Market
The current market continues to follow a similar path as in the 50's and 80's. Better sentiment and regulatory reform, even though be executive order, seems to have a positive influence on companies.
Biases Influence Investment Decisions
Every investor makes investment decisions that are influenced by ones biases that form over time. These biases may come in many forms but they tend to fall into a couple of categories, emotional or cognitive.
Investment Opportunities Outside The U.S.
Not all markets have traveled the same path as the S&P 500 Index. A number of markets outside the U.S have lagged the U.S. since the end of the financial crisis.
Is This The Market Top?
If the market strength has caused the equity exposure to exceed ones comfort level, now is a good time to adjust their portfolio by reducing equity back to a comfortable target.
Individual And Investment Manager Sentiment Is Diverging
At the end of August bullish investor sentiment reached a year low of 25% and since that time individual investor sentiment has risen to 45.1% as reported by the American Association of Individual Investors (AAII) today.
The Time Period Matters For Outperformance: High Beta Versus Low Volatility
Since August though the high beta index seems to have gained significant upward momentum versus the low volatility strategy. Both indexes trail the S&P 500 Index this year.
Sizable Declines In A Few Individual Stocks; Time To Review Allocations
Much is going right as it relates to the equity markets around the globe; however, this past week saw the market punish companies that reported earnings that did not match market expectations.
EC An Increasing Dividend Payout Ratio Is A Positive Indicator For The Market
Since the end of the financial crisis, the dividend payout ratio has been on the rise and now exceeds the pre-financial crisis level. Companies are broadly optimistic about the future.
Citigroup Economic Surprise Indices Have Little Bearing On Equity Market Performance
What is important for investors to know is the CESI is a mean reverting index, that by design, cycles between highs and lows over relatively short periods of time.
Synchronized Global Growth
Much of the sentiment and global market data continue to come in on the positive side of the ledger. Friday's University of Michigan Consumer Sentiment jumped six points to 101.1 for October and is the highest reading in thirteen years.
A Decline In Small Business Optimism
The NFIB reported the September Small Business Optimism Index results and they showed the Index fell 2.3 points to 103, which was below the lowest consensus forecast. In spite of the decline, the index still remains at a high level.
Fall 2017 Investor Letter: The Hated Rally Continues
We discuss the unwinding of the Fed's balance sheet, low interest rates and the negative impact on income generation for investors and the benefit achieved by investors that have pursued diversification outside of the U.S. equity market.
Shifting Investor Sentiment
It seems the market's consistent bid to move higher this year might be confusing the individual investor.
A Recession And Equity Market Bubble Five Years Ago Did Not Materialize, Now What
Five years after 2012 to today and following all the consternation about bubbles, corrections and recessions, the U.S. equity market (S&P 500 Index) is up an additional 87% and the economy has avoided a recession.
Higher Bond Yields A Headwind For Technology Stocks
Weakness is beginning to show in some of the large-cap technology stocks. This time period is a short three weeks, but the performance of large-cap technology stocks is something investors will want to follow.
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