Monroe Vos Research

Aggressive or Defensive

3rd Qtr 2018 Review & Outlook - October 2018 was a very volatile month, with the S&P 500 down about 10%. A statement by Chairman Powell of the Federal Reserve indicating that the Fed would continue to raise rates steadily ...

It's Complicated

2nd Qtr 2018 Review & Outlook - The stock market continues to be volatile due to an overvalued stock market, indexes rising due to the influence of momentous stocks, geopolitical concerns, global market concerns and the trade war. The major ...

Bull Market Ending?

1st Qtr 2018 Review & Outlook - The stock market continues to be volatile due to increased interest rates, the Fed’s “Quantitative Tightening”, an over-valued stock market, geopolitical concerns, global economic concerns and domestic economic concerns coupled with economic optimism.

Conundrum

4th Qtr 2017 Review & Outlook - The stock market continues to set new record highs. The reasons are the tax bill passed by Congress; relatively low interest rates; low inflation; the perception of an improving economy; raises and bonuses ...

Anti-Bubble and The Economy

3rd Qtr 2017 Review & Outlook - Year to date the stock market continues to reach new record highs. The reasons are anticipation of tax reform by Congress; earnings growth of public corporations; low interest rates from bonds; low inflation; ...

Congress, The Fed, P/E Ratio

2nd Qtr 2017 Review & Outlook - Year to date the stock market continues to rise on the anticipation that the Trump administration will repeal and replace Obamacare with something better, that tax legislation will be passed that lowers the ...

Trump Bumpy 2017

1st Qtr 2017 Review & Outlook - The stock market continued to rise in the first quarter of 2017. The NASDAQ Composite was up 10.13% lead by technology stocks, the S&P 500 up 6.07% and the Dow up 5.19%. The ...

2016, Trump Bump, 2017?

4th Qtr 2016 Review & Outlook - At year end the Dow Jones Industrial Average was up 16.50%, the S&P 500 was up 11.96% and the MSCI ACWI ex USA was up 4.50%. Value stocks outperformed growth stocks. The Russell ...

Low Returns and Expectations

3rd Qtr 2016 Review & Outlook - I recently attended the Roundtable for Consultants and Institutional Investors conference in Chicago held by Institutional Investor Magazine. Large public funds, insurance companies, national consulting firms and money managers attend this conference each ...

The Wall of Worry

2nd Qtr 2016 Review & Outlook - There is a concept in investing called “climbing the wall of worry”. The idea is that when there are things to worry about in the markets, investors usually do well because they are ...