We prefer dividend-paying stocks to bonds, although having an allocation to bonds in portfolios is appropriate for diversification and to reduce overall volatility. The bond market, particularly government bonds, continue to be concerning, with interest rates at record lows and over $15 trillion in international government bonds trading at negative interest rates. We continue to […]

We feel confident about the repositioning we were able to do during the pandemic and ensuing market volatility. While we are not aggressive buyers of stocks at current levels, we will likely add to high quality equities on any meaningful weakness. However, the bond market, particularly government bonds, is worrisome, with interest rates at record […]

We are cautiously optimistic that U.S. equities, and in particular dividend growth stocks with high free cash flow, can continue to move higher in 2020. In an economy with modest growth, low interest rates and above average valuations, returns will likely be driven by earnings growth. Recall from last quarter’s newsletter that we lowered our […]

We don’t have a dour view of stocks. Rather than try and call the economic cycle, we continue to invest in companies with strong free cash flow, strong business models, and conservative balance sheets. While we think there may be an earnings lull, and we worry about trade wars and Washington missteps or non-steps, the […]