Horan - Health. Wealth. Life

Looking For Data To Support A Market Correction

Posted by David Templeton on Sunday, July 13, 2014 in Wealth Management | Comments (0)
Posting commentary has been light this past week for a number of reasons; however, topic thoughts often come from interesting articles I read throughout the week. The difficulty of late has to do with the abundant stream of commentary that is predicting the end of this bull market run, i.e., the dreaded 10+% correction which has not been experienced for over two years now.From The Blog of HORAN Capital AdvisorsSource: yardeni.comExacerbating this stream of thought has been the media's effort to ...  Read more...

Week Ahead Magazine: July 6, 2014

Posted by David Templeton on Sunday, July 06, 2014 in Wealth Management | Comments (0)
The major U.S. equity indices ended the shortened holiday week last week in the green. The best performing index was The Nasdaq Composite up 2.0%, with the worst performer being the S&P 500 Index up 1.2%. A notably weak sector was utilities (XLU) down over 3%. Consumer discretionary (XLY), health care (XLV) and technology (XLK) were theĀ  top performing sectors. Some credit the strength in the equity market to the generally positive economic reports last week. Officially, earnings season kicks of...  Read more...
During the month of June the capitalization weighted S&P 500 Index was up 2.07%. The equal weight Guggenheim Index (RSP) returned 2.86%. This equal weight outperformance was also achieved by both the dividend payers and non payers in the S&P 500 Index. In total though it was the non payers that outperformed the payers during June by returning 3.91% versus the payers return of 2.56%. For the last twelve months though, the dividend payers maintain a performance advantage over the non payers, 34.11...  Read more...

What Event Triggers The Next Market Correction

Posted by David Templeton on Wednesday, July 02, 2014 in Wealth Management | Comments (0)
There is no one variable or silver bullet that will provide insight into the future direction of the stock market or an individual stock. At the end of the day though, a stock's future direction will depend on a company's ability to grow its earnings. We constantly review data, financial and economic, that will provide insight into earnings growth for companies, the overall market and specific countries.With the strength of the markets' advance since the end of the Great Recession, and this impr...  Read more...

A Rising Tide Lifts All Markets In The First Half Of 2014

Posted by David Templeton on Monday, June 30, 2014 in Wealth Management | Comments (0)
With the close of trading today, the first half of 2014 is now in the books. The months seem to click by more quickly each year. As the below index return chart shows, the indices displayed all have relatively healthy returns except for the lagging small cap index. The return data was obtained from S&P Dow Jones Indices and their report had very few negative returns for the indices they reported on. While many investors were and remain under weighted in international stocks, those markets had re...  Read more...
I wrote a post a few days ago that highlighted the 10-year annualized returns for the U.S stock market and the MSCI World Index. The summary of the article and the chart was the 10-year annualized market returns remain below their long term averages. A number of our articles are published on SeekingAlpha as was the one just mentioned. One comment to the SeekingAlpha article raised the question that the real returns may display a different result. In short though, the real versus nominal returns,...  Read more...

Week Ahead Magazine: June 29, 2014

Posted by David Templeton on Sunday, June 29, 2014 in Wealth Management | Comments (0)
After a much worse than expected final GDP report last week, the upcoming shortened trading week will be filled with potential market moving economic news. With the markets closed on Friday, Thursday morning investors will receive both the employment report and the jobless claims report. Both of these reports have marketing moving potential. Other key reports this week:Chicago PMI and Pending Home Sales (M)Manufacturing PMI, ISM Manufacturing Index and Construction Spending (T)ADP Employment Rep...  Read more...
For those that drive a car, they are certainly feeling the effects of higher gasoline pump prices versus four or five years ago. As the below chart shows, however, average gasoline pump prices have been on the decline (barely) since the beginning of 2011. This attempted decline, or at least stabilization, is occurring in an environment where the price of a barrel of crude oil is trending higher. The significance of oil price inflation is the fact only one recession was not preceded by, or coinci...  Read more...

10-Year Annualized Equity Returns Remain Below Average

Posted by David Templeton on Saturday, June 28, 2014 in Wealth Management | Comments (0)
Franklin Templeton Investments published recent commentary on their positive view of equities both in the U.S. and in Europe. The entire article is a worthwhile read; however, one chart included in the write up was the one below showing 10-year annualized returns going back to 1825. As the chart shows, in spite of the strong bull market in equities around the world send the bottoming of the financial crisis in 2009, the compounded 10-year annualized return remains pretty far below average.From T...  Read more...

Corporate Cash Is King

Posted by David Templeton on Thursday, June 26, 2014 in Wealth Management | Comments (0)
Earlier this week Factset Research (FDS) released their Cash & Investment Quarterly for the S&P 500 Index covering the first quarter. Notable was the near 46% growth on a year over year basis in shareholder distributions (dividends plus buybacks) totaling $193.8 billion. The report also notes share repurchases alone were higher by 50% in the first quarter.From The Blog of HORAN Capital AdvisorsOther notable highlights from the report:"Aggregate Cash Grew 7%: The S&P 500 (ex-Financials) cash and ...  Read more...
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