31 insights
Outlook
New
Apr 17, 2024
Second Quarter Equity Outlook
Industry consolidation has become commonplace over the past few decades, making scale a critical factor when we evaluate which companies are best positioned to compete.
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Perspective
New
Apr 12, 2024
Patience Pays: Leaning Into the Inverted Yield Curve
We have always maintained it is better to accept what the market has on offer than to stretch for returns. Thanks to the inverted yield curve and our flexible mandate, the current environment is making it easier than ever to be patient while we wait for
fat pitches.
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Outlook
New
Apr 11, 2024
Second Quarter Strategic Income Outlook
Despite elevated interest rates, economic conditions improved throughout the first quarter, creating a favorable near- to medium-term outlook.
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Perspective
New
Apr 8, 2024
Are Investors Walking a Tightrope with the Mag 7?
Over the past several years, investors have been rewarded by investing in the Magnificent 7-dominated S&P 500. Perhaps they should consider a different approach going forward.
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Perspective
New
Apr 5, 2024
Are You Taking Advantage of Tax-Free Gifting?
Do you consider gifting to loved ones or others as part of your wealth management planning? Many people overlook the power of the annual gift exclusion as an easy way to make tax-free gifts as well as reduce one’s estate. With the increase in the gift tax exclusion in 2024, an individual can gift up to $18,000 to as many people as they would like without it impacting their lifetime gift exclusion.
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Perspective
New
Apr 3, 2024
Cash from Trash: Renewable Natural Gas
Innovation and growth may not be the first words that come to investors’ minds when thinking about the waste management industry, but they should be.
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Video
Jan 26, 2024
Quarterly Webinar Replay
If you were unable to join our quarterly webinar on January 25, listen to the replay to hear updates from Portfolio Managers John Osterweis, Nael Fakhry, and Carl Kaufman.
During the webinar, Chris Zand moderated a discussion about recent market activity and trends, portfolio positioning, and the investment team's outlook.
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Outlook
Jan 24, 2024
First Quarter Equity Outlook
The Fed has been walking a tightrope for a while now, trying to tame inflation without crashing the economy. The data was encouraging throughout 2023, and we may soon find out if the central bank has actually engineered immaculate disinflation.
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Outlook
Jan 16, 2024
First Quarter Strategic Income Outlook
The market performed well in 2023, but inflation will likely remain a top concern for both the Fed and investors throughout the new year.
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Perspective
Jan 2, 2024
Inherited IRA Withdrawal Process: Optimizing Financial Legacies
When it comes to managing financial portfolios and planning for your future, there will be many unique challenges and opportunities. Leveraging Inherited Individual Retirement Accounts can help you preserve and transfer wealth across generations.
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News
Nov 13, 2023
Wealth Management Checklist
Is there a gap in your financial plan? Are you wondering if you are on track to meet your wealth management goals? Download our checklist to find out.
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Outlook
Oct 12, 2023
Fourth Quarter Equity Outlook
As the second quarter came to a close, the Fed’s elusive soft landing appeared to be within reach. However, inflation resurfaced during the third quarter, substantially complicating the near-term economic outlook.
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Outlook
Oct 11, 2023
Fourth Quarter Strategic Income Outlook
Like a watched pot that refuses to boil, the much-anticipated recession of 2023 has yet to materialize. In our latest Strategic Income outlook, we examine the reasons and discuss what might finally cause the temperature to rise.
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Perspective
Sep 19, 2023
Catching the Wave: Why Secular Growth Matters
In our view, the specific market dynamics that influence a company's sales growth prospects have a greater impact on equity returns than the overall direction of the economy.
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Perspective
Aug 31, 2023
Artificial Intelligence: A Seismic Secular Growth Opportunity
Artificial intelligence (AI) has been top-of-mind for investors for much of 2023, fueling a strong rally in the S&P 500. While it may take time for AI to have a similar impact on small cap stocks, we share the market’s enthusiasm and believe AI has the potential to become one of the most disruptive secular growth trends ever.
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Outlook
Jul 18, 2023
Third Quarter Strategic Income Outlook
Despite persistent inflation and elevated short-term interest rates, the economy appears to be holding up well, and we believe the Fed may deliver the “soft landing” it has been trying to engineer.
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Outlook
Jul 18, 2023
Third Quarter Equity Outlook
The S&P 500 has generated double digit returns so far in 2023, but the gains have been narrowly focused. Heading into the second half, we will be watching to see whether the rally broadens or the market capitulates.
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Perspective
Jul 13, 2023
Focus on Dividend Growth, Not Dividend Yield
Dividends have historically played an important role in shareholder returns. In our view, companies that pay growing cash dividends also tend to reinvest in themselves, which can drive growth in cash flow and provide attractive returns with less volatility over time.
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Perspective
Jun 30, 2023
Five Benefits of Setting Up a Trust
A trust can be an important part of your overall estate plan and a way to ensure your loved ones and assets are protected for the entirety of your life and beyond. We outline what we believe are some of the top benefits of adding a trust to your estate planning portfolio.
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Perspective
May 25, 2023
Ignoring the Noise and Focusing on Return on Invested Capital
What drives return on invested capital (ROIC), and why should this metric matter to a long-term investor? We believe that understanding a company and its industry structure is imperative to determining the trajectory of ROIC, which dictates whether a company will generate attractive returns over time.
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Perspective
Sep 26, 2022
20 Years of Common Sense Investing: Our Top 5 Principles
We have always believed that common sense is the key to successful investing. Since launching our Strategic Income Strategy two decades ago, our straightforward, flexible approach has allowed us to navigate all types of markets and consistently deliver strong risk-adjusted returns over time.
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Perspective
Aug 24, 2022
Strategic Income Strategy: Built to Withstand Challenging Markets
2022 has been a tough year for fixed income, as the Fed tightening cycle, inflation, and recession fears have all weighed heavily on markets. We believe the Osterweis Strategic Income strategy is well-positioned to address these types of challenges, as its flexible mandate and defensive approach help to protect against rising rates and market volatility.
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Perspective
Aug 23, 2022
A Solutions-Based Investing Approach
There is no such thing as a one-size-fits-all approach to investing, which is why we focus on our clients’ unique needs when developing our investment strategies.
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Perspective
Mar 8, 2022
Market Perspectives: Our Latest Thoughts on Ukraine
The Ukraine conflict has escalated rapidly, creating a massive humanitarian crisis and increasing volatility across financial markets. In this piece we review the major economic implications of the war and discuss the steps we are taking to manage the impact on portfolios.
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Perspective
Jan 5, 2022
In Search of Upside: Finding Opportunities in Small Cap Growth
Small cap growth stocks lagged for most of 2021 as the market simultaneously dealt with the pandemic, inflation, and tightening Fed policy. Given these challenges, we have been focusing on high quality companies trading at attractive valuations, and we have also been looking at non-technology businesses that are embracing digitization.
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Perspective
Dec 7, 2021
The Power of Tax-Efficient Compounding
With day trading making headlines, it seems that many investors have lost focus on the value of a buy-and-hold approach. We explain why it may make sense to harness the potential power of tax-efficient compounding when it comes to long-term wealth creation.
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Perspective
Mar 31, 2021
Price Makers, Share Gainers, and Compounding Machines: Three Quality Business Models
Defining a quality business is easier said than done. We have found that the highest quality businesses either consistently exercise pricing power while maintaining market share or consistently grow market share by undercutting incumbents. A choice few companies we call “compounding machines” can both raise price and increase market share.
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Perspective
Dec 28, 2020
Back to (the New) Normal: Five Secular Growth Trends for 2021
The coronavirus pandemic is a once-in-a-lifetime event that transformed society and the economy almost overnight. We believe some of the most significant changes are likely here to stay, and we are focusing our investments on the secular growth trends we expect to strengthen as life returns to normal.
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Perspective
Dec 7, 2020
The Case for Waste: Finding Growth in Garbage
Although investors don’t normally think about trash when they’re looking for growth stocks, we believe the solid waste industry is well-positioned to outperform. In our view, the combination of high barriers to entry, stable demand, and opportunities for consolidation should provide reliable revenue growth for the foreseeable future.
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Perspective
Aug 14, 2020
A Bright Future for Renewables: Lower Costs and Rising Demand
Following decades of investment and cost reduction, electricity from renewable energy should be cheaper than most existing fossil- and nuclear-fueled electricity within the next three-to-five years. We believe selectively investing in operators with scale and cost advantages in this sector should be rewarding given the increasing demand for clean energy.
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Perspective
Jul 8, 2020
Steepening the (Adoption) Curve: Covid-19 and Digital Transformation
In the era of social distancing, technology has become even more integrated into our personal and professional lives. We believe this trend will persist even after the pandemic passes, and we expect it will particularly benefit firms that support remote working arrangements and eCommerce, two areas where we anticipate accelerating adoption and sustained growth.
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