With stock valuations stretched and bonds being called back into question, U.S. investors will face tough asset allocation decisions in 2025. One simple solution is to maintain balance and avoid making any extreme moves. This isn't paralysis by analysis, rather it is a reasonable position based on facts. While stocks look expensive, economic and market … Continue reading Caution and Opportunity
Last year I wrote all good things come to an end, including the easy money from a decade-long rally in housing prices. The chart below shows how peaks (green circles) in home sales activity (blue line) historically lead prices (red line). I noted the divergence in June 2021 (green arrows) was untenable, and I expected a reversion … Continue reading Reality for Real Estate
Back in January 2011 I wrote "I think one of the most attractive domestic investment opportunities is also one of the most detested - real estate." Obvious and easy in hindsight, but in 2011 many people were still licking their wounds from one of the largest real estate crashes ever. People were scared silly and … Continue reading All Good Things
Bellwether Capital Management LLC is pleased to share its latest Investor Letter with you. Investor Letters provide BCM's perspectives on the economy, markets, and investing. You may access a copy of the letter along with an archive of letters, and other content at BCM's website http://www.bellwethercm.com/insights. Thank you, and please feel free to contact BCM … Continue reading Latest Investor Letter
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