Latest Blog Posts

Income Report Card | February 2017

Author: Nathan J. Rowader
Date: February 16, 2017
Category: Asset Allocation, Financial Planning
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Emerging market (EM) stocks increased by 5.48% during the month of January, as measured by the MSCI Emerging Markets Index. This gain is a continuation of the strong performance in 2016 and helps bolster the case that the emerging markets may be heading toward a better return cycle relative other markets.

Income Report Card | January 2017

Author: Nathan J. Rowader
Date: February 10, 2017
Category: Asset Allocation, Financial Planning
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Assuming you believe the case for economic growth highlighted above then which markets should benefit? As of right now, the least expensive markets are in the emerging markets including Russia, China, South Korea and India. Additionally, many of these same countries have the wind at their back with strong momentum. Meanwhile, some of the most expensive markets are developed countries such as the United Kingdom, France, Canada, Italy and Spain. Which are also exhibiting very weak momentum. A combination of poor valuation and a lack of investor enthusiasm usually spells trouble.

Income Investing in an Uncertain World | Part 2

Author: Nathan J. Rowader
Date: January 20, 2017
Category: Alternatives, Financial Planning
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In the first part of this series, we outlined the risks associated with achieving long-term investment objectives in a low interest rate world. The solution we outlined increased exposure to higher income assets such as high yield or emerging market corporate bonds. As we indicated however, increasing the exposure to these asset types indeed increases the risk of the overall portfolio in terms of volatility and maximum drawdown. This presents a conundrum: Should an investor merely accept more risk or is there a better way to manage the increased level of risk and still increase the overall income from the portfolio?

End of Year MLP Update: Positive Outlook

Author: Ted Gardner, CFA
Date: December 20, 2016
Category: MLPs
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This quarter has been a whirlwind for the energy space. Among the notable events were the surprise presidential election of Donald Trump and the agreement to cut oil production by the Organization of the Petroleum Exporting Countries (OPEC), both of which have been positive for global energy markets thus far. The Salient MLP team believes that these key events may continue to bolster the energy recovery into 2017.

Income Investing in an Uncertain World | Part 1

Author: Nathan J. Rowader
Date: October 11, 2016
Category: Alternatives, Financial Planning
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As the recession of 2008/2009 wound down, many investors began to survey the wreckage of the financial markets and shift their attention from asset preservation to capital appreciation. Traditional fixed rate bonds, particularly sovereign bonds such as U.S. Treasurys, appeared to be grossly overvalued thanks to aggressive monetary stimulus from nearly every central bank.

Brexit Stage Right

Author: Rusty Guinn
Date: June 25, 2016
Category: Macro Trends
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It was an eventful end to the week, nowhere more so than in the United Kingdom, where voters surprised markets, political observers and even bookies with a resounding vote to leave the European Union. We know many our clients and partners have questions about how this may affect the world, financial markets and their investments. As always, the answer is complicated.

Volatility Control Is a Feature, Not a Bug

Author: Roberto Croce, Ph.D.
Date: September 8, 2015
Category: Macro Trends
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At the risk of giving specious arguments more attention than they deserve, my team and I would like to respond to several written reports speculating that risk parity strategies are systemically risky and amplify downside market volatility.

Navigating Emerging Markets in the Second Quarter and Beyond

Author: David L. Ruff, CFA
Date: August 6, 2015
Category: Emerging Markets
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During the second quarter, non-U.S. equities experienced heightened volatility but managed to hold onto a small positive return. The quarter started on a positive note with central banks globally providing accommodation in spite of anticipated tightening moves by the U.S. Federal Reserve (Fed), possibly before year-end.


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