Equity Market Perspective: December 2018

Equity markets are exhibiting every indication of panic and fear. The above chart combines a series of seven longstanding sentiment indicators into a 0 to 100 score. The current score is the polar‐ opposite of where it was twelve months …

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Viewpoint: Steepening U.S. Yield Curve Provokes Sell-Off

Federal Reserve interest rate increases have been underway for the better part of two years. But those increases have not been fully reflected in the longer end of the maturity curve- that is until the past few weeks. The yield …

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Viewpoint: International vs. Domestic

“It was the best of times, it was the worst of times…”, With apologies to Charles Dickens this phrase encapsulates capital market returns so far in 2018. The best of times are being experienced by U.S. equity markets (led by …

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CSP Q2 Commentary and Performance – June 2018

Performance Recap: Equity performance remains ahead of our benchmarks year-to-date despite giving up some performance in the second quarter. Year to date, the Luxon Global All Equity Portfolio gross return is +0.98% while the MSCI All Country World Index remains …

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CSP Q1 Commentary and Performance – March 2018

Performance Recap: Luxon Global Equity outperformed their benchmarks by a healthy margin. The All Equity model finished the quarter up +0.71%, while the MSCI All Country World Index and our Blended Equity benchmark finished down (0.96%) and (0.91%), respectively. Some …

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Return of Volatility

The last week saw a return of volatility to global equity markets. While difficult to endure in the short term, volatility has historically been a friend to long-term equity investors. Corrections of ten to twenty percent are common features of …

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