Commentary

Is It Time to Be Max Bullish?

The further acceleration and broadening of corporate profit growth supports RBA’s bullish near-term outlook for many regions and sectors of the stock market. However, when constructing portfolios, it has paid to separate the equity asset allocation decision from the equity selection decision.

Commentary

Something’s Gotta Give

There are many historical relationships within financial markets based on sound economic theory, which accordingly repeat cycle after cycle. High yield bonds and small cap stocks typically move in line with each other, but the two have diverged since 2022.

Commentary

China’s Stealth Rally

In our latest research insight, RBA's Senior Research Analyst, Matthew Poterba, explains the numerous positive developments that help explain China's strong year-to-date outperformance.

Commentary

What Goes Around Comes Around

Investors often forget that nothing in the financial markets is permanent. Regardless of the hype or castigation, what’s hot eventually becomes cold and what’s cold eventually becomes hot. While we remain very skeptical of today’s market’s heroes, we think the range of investment opportunities is historically broad, historically attractive, and a once-in-a-generation opportunity.

Commentary

US Industrial Renaissance: It’s a Matter of National Security

The US industrial renaissance is not a new theme for RBA. We first wrote about it in 2012 when we argued that US corporations had moved operations overseas because they were too focused on labor costs, and were ignoring transportation, governmental, geopolitical, and supply chain risks.

Commentary

How to Avoid Another Lost Decade in Equities

The current speculative environment seems to increasingly resemble the Technology Bubble of 1999/2000. All bubbles eventually burst and the burst of the Tech Bubble led to the so-called lost decade in equities.

Commentary

Extending Time Horizons Is Critical to Building Wealth

The basic tenets of building wealth, like having a well-diversified portfolio with long time horizons, are not difficult concepts that are relatively easy to implement. So, why don’t people follow them? In our latest insight, we analyze several risk/return charts across multiple time horizons and reveal the results that investors tend to find surprising.

Commentary

2024 Fixed Income: Don’t Be a Hero

In what was supposed to be the “year of fixed income,” 2023 proved to be an OK year, but not a generational one. As we shift gears into 2024, spreads are tight, rates are low, and the market is pricing in a whopping six interest rate cuts before year-end.

Commentary

4 for '24: Year Ahead Outlook

2023 will likely go down in history as a year of extreme speculation. However, we believe there are once-in-a-generation investment opportunities for 2024 resulting from that overly speculative myopia.

Commentary

Global Valuations: A Rubber Band Poised to Snap

History shows that returns are greatest when capital is scarce. But investors need to also realize that risks escalate when there is a glut of capital.

Commentary

Magnificence Beyond the Magnificent 7

Whether famous or infamous, the Magnificent 7 stocks have been 2023’s stock market story. However, the fundamentals of the Magnificent 7 aren't uniquely superior, and the breadth and depth of other growth opportunities seems historically large and attractive. In our latest insight, we complete an analysis of US companies with expected earnings growth greater than 25% and compare it against the Magnificent 7 stocks.

Commentary

A Once-In-A-Generation Opportunity

Read our latest insight to learn why we believe the economy isn't landing but that we see profits taking off suggesting a once-in-a-generation investment opportunity.

Commentary

Opportunities in Fixed Income

In our latest fixed income insight, we highlight four compelling investments for the remainder of 2023 and into 2024.

Commentary

Is Investing Really This Easy?

Read our quick insight to learn why investors should be careful when Wall Street starts to feel like Easy Street.

Commentary

Investors’ Shift From Fear to Greed Presents Historic Opportunities

We started RBA in 2009 primarily because we thought the US stock market was entering one of the biggest bull markets of our careers. However, most investors did not agree with our bullishness. Now, risk aversion seems a thing of the past.