The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team. These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.
Matt McAleer gives us his take on the market this week. What about cash? Is it good to have it? Matt offers some insight into how Cumberland Advisors leverages cash and their strategy to use it for advantage. WATCH HERE.
John R. Mousseau, CFA 11/07/2018
David R. Kotok 11/07/2018
Robert Eisenbeis, Ph.D. 11/02/2018
William Witherell, Ph.D. 10/31/2018
Can Smallcaps Regain Status as Market Leaders After October Selloff? Matt McAleer Weighs In.
Quoted: David R. Kotok 11/09/2018
Quoted: John R. Mousseau, CFA 11/09/2018
Quoted: David R. Kotok 11/02/2018
Patricia Healy, CFA 9/18/2018
Cumberland has utilized separately managed accounts to execute its fixed-income strategy since its inception in 1973, long before separately managed accounts (SMAs) were popularized in the early 2000s. Market Commentary – Cumberland Advisors – The Rise of Municipal Separately Managed Accounts 2018 Update What exactly is an SMA? Per Investopedia: “A[n] SMA is a portfolio of assets under the management of a professional investment firm. In the United States, the vast majority of such firms are called registered investment advisors, and operate under the regulatory auspices of the Investment Advisors Act of 1940 and the purview of the US Securities and Exchange Commission (SEC). One or more portfolio managers are responsible for day-to-day investment decisions, supported by a team of analysts, operations and administrative staff. SMAs differ from pooled vehicles like mutual funds in that each portfolio is unique to a single account (hence the name). In other words, if you set up a separate account with Money Manager X, then Manager X has the discretion to make decisions for this account that may be different from decisions made for other accounts.” The reasons for managing money in this fashion are the same today as they were then. Continued…
David R. Kotok 7/25/2008
In 1790, Edmund Burke, the founder of Anglo-American conservatism, waxed eloquently about the power and responsibilities of a government’s agencies in a democracy. He said: “To execute laws is a royal office; to execute orders is not to be king. A political magistracy, though merely such, is a great trust.” This warning came before there were central banks like the Federal Reserve, before there were bank regulators & supervisors, and before there were bank deposit insurers like the FDIC. Was Burke prescient and thinking about them? Two hundred and eighteen years after Burke’s admonition, we can ask: Is your money safe in the bank? Here is what we know about banks and your bank deposits. And there is a lot we don’t know. Continued…
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.