Advisory Research | Commentary (2)

Interview with a Capital Allocator: Engagement with Portfolio Companies

by Advisory Research on May 07, 2024

During an interview with Mary Sullivan, CFA, CPA, the CFO of Susser Holdings II, a Texas family office, the portfolio managers of the Partners strategy, Matthew Swaim and Chris Harvey, gave their view on the increasingly pronounced niche of small cap market opportunities, including th …

Strategies: Partners

Interview with a Capital Allocator: Investment Strategy

by Advisory Research on May 02, 2024

Strategies: Partners

Interview with a Capital Allocator: Small Cap Opportunities

by Advisory Research on April 30, 2024

Strategies: Partners

If Volatility Rises, Dividend Growth Should Outperform

by Justin Lamb on April 08, 2024

MARCH 2024 - Select Dividend If there is one thing markets dislike, it is uncertainty There has been growing certainty that 1) inflation is easing and 2) as a result, the Fed will cut rates somewhat aggressively later in 2024. Volatility markets have reflected this consensus, with the …

Strategies: Select Dividend

Equity Markets: What to Expect When You’re Electing

by Justin Lamb on March 21, 2024

MARCH 2024 - Select Dividend EXPECT VOLATILITY TO RISE Since 1950, volatility heading into the Presidential election has been elevated relative to the median annual trend. However, short term volatility tends to fall in the 4th quarter and remain relatively low during the year after. …

Strategies: Select Dividend

Why Money Market Liquidity Might be a 2025 Story

by Adam Steffanus, CFA on February 08, 2024

JANUARY 2024 Equities benefit when rates fall, and liquidity exits the money market On a calendar year basis, the S&P 500 performed well during years after the end of a Federal Reserve tightening cycle when money market (“MM”) flows were negative by at least 7%. Considering 2023 s …

Strategies: Select Dividend

History suggests the post-pause rally is just beginning

by Michael Valentinas on December 15, 2023

NOVEMBER 2023 Real rates are restrictive by many measures Real interest rates account for inflation and are often considered restrictive at levels > zero. With the real Fed Funds rate* and yields on inflation protected bonds (TIPS) positive and rising, real rates are indeed restric …

Strategies: Select Dividend

Simplify your Allocation

by Adam Steffanus, CFA on December 14, 2023

September 2023 A single global equity portfolio may be all the exposure you need 30 years ago, equities were a complicated asset class, but today, there is a much wider opportunity set of more complex and illiquid alternatives. In that case, simplifying your equity allocation to a sin …

Strategies: Select Dividend

Is your Dividend Manager a Value Trap?

by Michael Valentinas on October 05, 2023

DECEMBER 2023 TOO MANY MANAGERS CHASE YIELD OVER GROWTH The S&P 500 closed 2023 up 26.3%, but many dividend managers missed the rally. The average U.S. dividend strategy returned 11.5% (net) over the same period, and strategies with 2.5%+ dividend yields (more than half of the uni …

Strategies: Select Dividend

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Interview with a Capital Allocator: Engagement with Portfolio Companies

Interview with a Capital Allocator: Investment Strategy

Interview with a Capital Allocator: Small Cap Opportunities

If Volatility Rises, Dividend Growth Should Outperform

Equity Markets: What to Expect When You’re Electing

Why Money Market Liquidity Might be a 2025 Story

History suggests the post-pause rally is just beginning

Simplify your Allocation

Is your Dividend Manager a Value Trap?

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Commentary

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About Advisory Research

Matthew Swaim, CFA

Chris Harvey, CFA

Adam Steffanus, CFA

Michael Valentinas

Bruce Zessar, JD, CFA

William Florida, CFA

Justin Lamb

Connor Prassas

Chris D. Crawshaw, CFA

Lisa N. Clarke, CFP®

Kevin Cialdella

Andrew Cupps

Sean Harmon

Jack Tracy