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ARTICLES & INSIGHTS
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ARTICLES & INSIGHTS
- HOME CIO INSIGHTS COMMENTARY AND ANALYSIS FROM ANGELES' CIO, MICHAEL ROSEN ANGELES INSIGHTS RESEARCH AND PERSPECTIVES FROM THE ANGELES TEAM IN THE NEWS PRESS RELEASES, INTERVIEWS, AND PUBLICATIONS FEATURING ANGELES MARKET UPDATE SNAPSHOTS MONTHLY MARKET ANALYSIS SEARCH MEDIA
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NEGATIVE YIELDS 03-19-2015
One of the (many) perplexing phenomena facing investors is the persistent (and falling) low yields on government bonds.Most of the time, we look to ...
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ERIN GO BRAGH! 03-17-2015
In honor of St. Patrick, I thought I'd share this (mostly) green chart with you, showing the DJIA over the past 115 years, delineated by bull and bear ...
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REBALANCINGS 03-16-2015
Apologies for slipping on the blogs, but I've been traveling around the continent, from Alaska to DC.One of the more common questions/comments we've ...
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ANGELES INVESTMENT ADVISORS ADMITS NEW MEMBER 03-15-2015
Angeles Investment Advisors announced today that Michael J. Burlon was admitted as a new member of the company. Angeles is now wholly owned by eight ...
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NOT DEFLATION 02-26-2015
The Consumer Price Index dropped 0.7% in January, bringing the year-over-year change to negative 0.1%. With the exception of the 2008 financial ...
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DIVERSIFY 02-19-2015
Each year for clients we update a very colorful graphic ranking the annual performance of various asset classes. Each asset class has its own color, ...
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PATIENCE 02-17-2015
Interest rate cycles are long: lasting not years, but decades. Consequently, we don't have many data points for statistically significant conclusions ...
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WHERE HAVE ALL THE BONDS GONE? 02-09-2015
Apologies to Pete Seeger for stealing his song lyric, but I think bonds and flowers are sufficiently different that he wouldn't mind.The chart below ...
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TED ELIOPOULOS: CALPERS' $300-BILLION MAN 02-08-2015
"It's perfectly possible to be a very effective leader even if you don't have all the experience in the weeds," said Michael Rosen, a principal at ...
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DOLLAR 02-06-2015
My quarterly letter talks about the strength of the US dollar and why it should continue to rise (see Chart below), but I wanted to note here the huge ...
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JOBS, JOBS, JOBS 02-06-2015
The US economy is stronger than we think: 257,000 net new jobs in January, but another 404,000 jobs were "found" (due to a recalculation) in November ...
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PIMCO FUND HAD $11.6 BILLION OF WITHDRAWALS IN JANUARY 02-03-2015
At this point, most people who've decided to exit have exited," Michael Rosen. "I think that's probably right unless performance starts deteriorating ...
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CONSENSUS 01-28-2015
Europe is a mess, everyone agrees: poor demographics, sclerotic and oppressive regulation, political dysfunction. European stocks lost 6% last year as ...
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FOR VANGUARD, THESE ARE THE BEST OF TIMES 01-26-2015
Others agree. "The trend toward passive investing is something (Vanguard founder) John Bogle really believed in," said Michael Rosen, a principal of ...
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VANGUARD'S FUNDS REACH NEW HEIGHTS 01-26-2015
Although Mr. Rosen said he still believes in active management " "it just requires the right mix of resources, experience, organization and ...
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STATISTICS 01-20-2015
Mark Twain wrote in his autobiography that there are three kinds of lies: lies, damned lies and statistics. How true.Revenue can be deferred (or ...
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SWISS CHEESE 01-15-2015
Back in 2011, as talk of the Eurozone disintegrating was at high pitch, investors fled to the perceived safety of the Swiss franc (CHF). Naturally, ...
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WHY HIGH-YIELD DEBT SELLOFF ISN'T 2007 ALL OVER AGAIN. OR IS IT? 01-15-2015
Just as many underestimated the effect defaulting subprime mortgages would have on financial markets in 2008, investors pulling money from high-yield ...
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MARKET COMMENTARY 01-13-2015
A Secular Bull Market is generally defined as a long-term bullish trend consisting of larger bull markets and smaller bear markets or corrections. In ...
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IN VANGUARD'S SHADOW, SMALL FIRM SCORES TWEAKING INDEXES 01-13-2015
"Educated advisers are more likely to prevent their clients from making radical changes when markets drop," said Rosen. "The fact that those assets ...
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DODGE & COX GROWS ON PERFORMANCE, PIMCO FLOW 01-12-2015
While performance at both funds is strong, it's clear the Dodge & Cox bond strategy benefited from outflows at PIMCO, said investment consultant ...
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WEIGHTY 01-08-2015
Among new year resolutions, losing weight tops the list for the majority of Americans. Actually, I made up that statistic, but in my defense, (a) it ...
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PIMCO NAMES BERNANKE, BROWN, TRICHET TO GLOBAL ADVISORY BOARD 01-07-2015
"It's possible to imagine that there's some insight these individuals can provide,"" Rosen, whose Santa Monica, California-based firm advises on more ...
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PIMCO TOTAL RETURN SUFFERS WORST YEAR FOR REDEMPTIONS, WITH GROSS, EL-ERIAN DEPA 01-03-2015
"You could still see some more outflows and then it probably stabilizes, unless performance really deteriorates," Michael Rosen, chief investment ...
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