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The investment industry has come a long way, offering Americans more ways than ever to build wealth. But the rise of alternatives—once the exclusive domain of institutions and the ultra-wealthy—has made it more difficult to cut through the noise and identify what matters. We’ve developed a framework to help. For most of our country’s history, […]
The investment industry has come a long way, offering Americans more ways than ever to build wealth. But the rise of alternatives—once the exclusive domain of institutions and the ultra-wealthy—has made it more difficult to cut through the noise and identify what matters. We’ve developed a framework to help. For most of our country’s history, […]
War, the Changing Shape of AI, and the New Fed Mandate From renewed unrest in the Middle East to growing questions about the artificial intelligence boom, the investment landscape remains complicated. Judging by today’s elevated valuations, investors appear willing to look past these risks. While that optimism may prove justified, the recent leadership change at […]
David Y. Lin, CFA
As we welcome a new calendar year, we pause to reflect upon the one which has concluded and consider what 2023 might offer investors. 2022 was a tumultuous year in the financial markets, with double-digit losses for both stocks and bonds. A rapid rise in inflation and interest rates served as the catalyst for the […]
Clifford Swan
“The real trouble with this world of ours is not that it is an unreasonable world, nor that it is a reasonable one. The commonest kind of trouble is that it is nearly reasonable, but not quite. Life is not an illogicality; yet it is a trap for logicians. It looks just a little more […]
Kevin J. Cavanaugh
In some ways, Clifford Swan Investment Counselors has been undergoing a period of transformation, which started seven years ago when we became a 100% employee-owned firm. While we have always focused the firm’s direction on providing valuable guidance, taking the step to being fully independent allowed us more control over how we shape the firm […]
Peter J. Boyle, CFA
After dropping borrowing rates to zero during the pandemic, the Federal Reserve has dramatically changed course in a bid to fight inflation. As we’ve written about before, higher rates have two key effects: a psychological one – weighing on risk appetite – and a mathematical one, as higher rates reduce the value of future cash […]
Clifford Swan
Clifford Swan’s summer internship program has successfully – and happily – been reinstated following a two-year hiatus during the pandemic. The internship provides undergraduate students considering a career in investment and wealth management a fundamental educational experience and opportunity to develop skills in multiple components of an investment advisory firm, while at the same time […]
Clifford Swan
In last quarter’s newsletter, equity analyst Dan Mintz considered equity investment in an inflationary environment. Today, we will discuss how the fixed income landscape is changing and share our resultant investment strategy. <br> INFLATION, RECESSION, AND YIELD CURVE SIGNALS With prices for everyday purchases like food and gas remaining high, inflation continues to be […]
Murcy Huang, CFA
There are many ways to support charitable causes financially. There are outright cash donations, bequests in an estate, different types of charitable trusts, as well as charitable gift annuities. Today, we will focus on the latter. “The promise of a reliable income stream is often attractive to donors.” Charitable gift annuities, or CGAs for short, […]
Lloyd K. Wong, CFA
In its sixteenth annual RIA ranking, Financial Advisor magazine again recognized Clifford Swan among the country’s leading independent advisory firms. The 2022 results place the firm as the 15th largest registered investment adviser in California, reflecting another year of consistent growth and client trust. The survey is open to qualifying independent RIAs that file directly […]
Clifford Swan
There were very few places to hide during the year’s first half as both equity and fixed income markets suffered heavy losses. With companies and consumers facing the highest inflation since the early 1980s, the U.S. Federal Reserve recently, and perhaps belatedly, raised interest rates aggressively to combat inflation. Rapidly rising interest rates swiftly brought […]
Clifford Swan
As a key tenet of our mission at Clifford Swan is to preserve and grow our clients’ wealth, inflation protection is always on our minds. Recently, however, the topic has made national headlines, with the Consumer Price Index (CPI) for the year ended March 2022 rising 8.5% versus the previous year—the highest jump since 1981. […]
Daniel J. Mintz
Inflation is top of mind in the investment community. As my colleague Dan Mintz discusses in his corresponding article, inflation is historically high. At Clifford Swan, we have strategies to preserve and grow our clients’ wealth in an inflationary environment. Our approach to disciplined stock picking, as described by Dan, is one of them. In […]
Erica S. White
The winds of change blew strong this past quarter, with new trends emerging and others shifting. Specifically, global risks have increased, a move towards globalization is shifting to reshoring, and long-term disinflationary trends, as well as the age of quantitative easing, appear to be paused.Just as the latest COVID-19 surge began to fade in early […]
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