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Active vs Passive is part of asset allocation

Apr 9, 2018 | CKW's Blog

Our industry sets standards of due diligence, research, analysis, education, and other criteria to manage parts of a portfolio.  Do the people and organizations picking the parts add value to the whole?  Is it manager selection or asset allocation? Every active or...

Parts will be parts.

Jan 18, 2018 | CKW's Blog

When the parts don’t fit, you get lousy performance.  Porsche magazine, with the latest and greatest new parts, get people enthusiastic about making changes for better performance.  Porsche is the best at putting together amazing cars from their parts bin. We believe...

Dear Santa

Dec 5, 2017 | CKW's Blog

Dear Santa,   All we want for Christmas is benchmark understanding.  Educating clients that managers need higher returns than the benchmark; firing managers because of drift and looking different from the benchmark; and having too many asset classes is not the...

Oops – Forgot Rate of Return!

Nov 15, 2017 | CKW's Blog

A Nobel Prize was awarded to the theory that the best Rate of Return for an increment of risk is a balanced portfolio of stocks and bonds. An investor is only an owner (stocks) and/or a lender (bonds). An illiquid, less diversified, and more expensive alternative...

Future of Asset Allocation

Sep 13, 2017 | CKW's Blog

If Asset Allocation has a future, the question is: What assets are in the AA decision?  CKW believes the combination of stocks and bonds provide good, hard to beat, risk-adjusted returns over time.  Buying stocks makes the buyer an owner and buying bonds makes the...

Focus on Earnings

Jul 10, 2017 | CKW's Blog

We believe it is clear that central bank rates will rise.  Either all the money central banks printed, purchased, and manufactured went into the economy or it did not.  Like most things, it is probably somewhere in between.  Did the money inflate asset prices or just...