Many investors understandably still have some PTSD from the rapidly rising bonds yields of 2022 and the historic bond bear market that ensued. We take the view that for long-term investors, rising yields are not something to be...
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All Thoughts
Broadening Diversification in a Global Market For many years, one of the key tenets of BCM’s investment philosophy was an emphasis on U.S. equities, reflecting the belief that many of the world’s best and strongest companies are...
What the crisis of the early 1980s may teach us about today's projected shortfall. Imagine it is 1982. You are 62 years old and have spent years working, saving, and paying into Social Security. Despite years of high inflation...
Forward stock price-to-earnings ratios are above historical averages – but what does this mean for long-term investors? Following three consecutive years of double-digit market gains, the S&P 500 continues to reach new highs...
“Life is long” is not something we hear very often. But as life expectancies increase, investors face a growing challenge: making sure what they have will last across much longer time horizons. The natural response is a greater...
The US economy started 2026 on a relatively strong footing, despite AI productivity and labor market fears, uncertainty over FED policy and independence, and geopolitical tensions abounding. Though the markets have reacted only...
Has there ever been an investable asset that has gotten a worse rap? The chart below shows the performance of gold, dating from 1972 through 2025. Point to point, not too bad at all. And yet, despite this performance record,...
Ever heard of legendary bond investor Howard Marks? Most people haven’t. Bond investing tends to fly under the radar—it’s important, but rarely the headline act. Well, he's the guy who runs Oaktree Capital, and when he talks...
When real estate investor Jerry Buss bought the Los Angeles Lakers in 1979, it wasn’t just about sports. He may not have known it then, but he was betting on entertainment, culture, and really — TIME. Over the next four decades,...