We hosted Brad Kotler of SSGA to discuss the mechanics underlying fixed income ETFs. As the AUM within these ETF’s now is over $1 trillion, more people are concerned about their impact on the credit markets. We discuss how ETFs are created and redeemed and the role they play within the changing fixed income market.Read More
Liquidity—the growing scarcity of it right now—is something that has bothered us for a while. It’s getting harder to turn an asset into cash. Higher liquidity implies the ability to sell quickly at a price similar to recent pricing. One way of thinking about liquidity is to consider the difference in the liquidity of a...Read More
Wins above replacement (WAR) is a baseball metric that describes a player’s value in terms of how many more wins he brought to his team than a replacement-level player at his position would have. It is a measure of the effectiveness of an individual within the team and a statistical attempt to quantify if he...Read More
The global equity markets provide the closest thing we have to a free lunch. With little effort, they provide individuals with the means of growing their money over time and above the rate of inflation, thereby providing a savings method that not only preserves purchasing power but increases it. However, your mom was right when...Read More
February 26, 2019: Auour Investments has been awarded a Top Guns designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers. Four of the firm’s investments strategies were recognized for their 1 or 3-year performance for the period ending December 31, 2018. “We are pleased, once again, to be...Read More
After a very dismal December (one of the worst market declines in history) and a powerful rebound in January (one of the best months in history), February has been relatively calm. But before you get giddy, we are not convinced the storm has completely passed. As we wrote in our 2019 Outlook, this will be...Read More
“The art of simplicity is a puzzle of complexity.” —Douglas Horton The Quarter in Review The fourth quarter ended in rough shape with major equity markets around the globe experiencing one of the worst ends to a calendar year. Equity markets peaked in September when many hoped the U.S. growth engine would be...Read More
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