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Equal Weight

Jun 26 2023

Be Contrary On Discretionary

  • Jun 26, 2023

The Fed’s June announcement of a pause with further rate hikes to come has extended the uncertainty of whether an inverted curve and persistent policy tightening will ultimately lead to a recession. The business cycle is a critical investment issue because the relative returns of many assets depend on the state of the macro economy. This study examines the Consumer Discretionary (CD) sector’s behavior in recessionary times, with the goal of understanding the typical performance pattern during economic lows in order to help investors position their portfolios for a potential recession.

Jun 06 2023

Research Preview: Recessionary Discretionary

  • Jun 6, 2023

While sentiment on the potential for a recession by year-end is split, there is little dispute that it’s an important question for cyclical sectors. Consumer Discretionary is most exposed to the business cycle, and we are interested in understanding its prospects as we head toward a potential economic slowdown.

Nov 07 2017

Cap Weight Or Equal Weight?

  • Nov 7, 2017

The Equal Weighted S&P 500 now trails the S&P 500 by 400 basis points YTD, and the rally is increasingly assailed as too narrow.

Apr 07 2016

Additional Factors

  • Apr 7, 2016

From the lows on February 11th to the end of March, the S&P 500 rallied nearly 14%, propelling the index into positive territory for the YTD. Our Equal Weighed Average sprung back to life in the past two months; the largest handful of firms are no longer driving performance.

Nov 06 2015

Additional Factors

  • Nov 6, 2015

S&P 500: Best Month In Four Years

Oct 07 2015

Stock Market Observations

  • Oct 7, 2015

The August market break did not emerge from out of the blue. The foundation for the bear case was put in place many months before those four ugly days in late August.

Sep 09 2015

Additional Factors

  • Sep 9, 2015

S&P 500: Worst Month In Three Years

Aug 06 2015

Additional Factors

  • Aug 6, 2015

S&P 500: Largest Firms In Charge

Jul 08 2015

Additional Factors

  • Jul 8, 2015

After rattling off nine consecutive quarters of gains, the S&P 500 quarterly winning streak is no more. We have to go way back to 1995-1998 to find a more impressive stretch (14 consecutive quarters). 

May 07 2015

Additional Factors

  • May 7, 2015

Gainers outnumbered losers by more than 2 to 1 for the largest 25 firms, while the overall market turned in uninspired results. Still, Q2 is off to a positive start for the S&P 500 as we look for the 10th consecutive quarter of gains for the index.

Apr 07 2015

Additional Factors

  • Apr 7, 2015

S&P 500: Home On The Range

Mar 06 2015

Additional Factors

  • Mar 6, 2015

Our Equal Weighted measurement slightly outperformed the Cap Weighted index and now leads by 50 bps for the year.