Articles authored by Grant Engelbart

Small cap stocks have been left in the dust by their larger-cap cousins since early 2023, with a few fits and starts along the way. Small caps showed strength coming out of the 2022 lows but were unable to build on their momentum as the Fed continued to raise interest rates until the summer of …

Omaha in May brings value investors from around the world to the ‘Woodstock of Capitalism,’ a chance to listen to Warren Buffett opine on life and his latest investments. The event serves as a good reminder to take time to step back and look at the long term. After an April swoon, a May rebound, …

We’ve written a lot recently (here, here, and here) on the recent backup in yields as Fed Reserve interest rate cuts have been repriced following hotter-than-expected inflation and stronger-than-expected economic growth. Interest rate volatility as measured by the MOVE Index, the VIX’s cousin but for bonds instead of stocks, has also subsequently picked back up …

Another strong quarter in markets can be met with skepticism if the fundamentals are not keeping up with price returns. Quarter end is a great time to dive in and take a look at the health of equity performance this year, and see where the opportunities are here and abroad. Earnings As we say often, …

Happy Pi Day to all those math fans out there! Math is nothing new to traditional finance (Tradfi), and math serves as a cornerstone of the blockchain technology that underpins the world of cryptocurrencies, perhaps more appropriately referred to as digital assets. Blockchain technology and it’s features such as security, immutability, decentralization, and ever-increasing use …

Just like that, another year is in the books. No two years are the same, and every year something defies expectations. For most of the year last year, that was the stock market. Expectations for recession and a continuation of the dreary returns of 2022 were widespread. Investors were positioned for more pain – just …

While in the short run any number of variables can and do move stock prices, over the long run, corporate earnings drive returns. The price investors pay for that stream of earnings is equally as important. While value is generally not a reliable short-term timing indicator, valuations can inform secular viewpoints toward various asset classes. …

It is that wonderful time of year again where mutual fund capital gain distributions are compared to lumps of coal in investor’s stockings. A rebounding stock market and another year of outflows from actively managed mutual funds means capital gains distributions for remaining shareholders. Traditional mutual funds face this problem due to the fact that …