The Impact of Inflation
Don’t Exclude Emerging Markets
June 5, 2018
When the prices of goods and services increase over time, consumers can buy fewer of them with every dollar they have saved. This erosion of the real purchasing power of wealth is called inflation. Inflation is an important element of investing. In many cases, the reason for saving today is to support future spending. Therefore, keeping pace with inflation is a crucial goal for many investors.
Changing Market: Municipal Bonds After Tax Reform
May 23, 2018
Thirty years ago, emerging markets made up only about 1% of world equity market capitalization, and just 18% of global GDP. As such, the ability to invest in emerging markets was limited—the few funds available were high-cost, actively managed funds.
How to Think About Increasing Interest Rates
May 10, 2018
January is typically a strong month for the municipal bond market, but 2018 began with the worst January performance since 1981, driven by rising interest rates and uncertainty over changes in the Tax Cuts and Jobs Act (TCJA).1 The muni market stabilized through April 2018, but uncertainty remains.
Tuning Out the Noise
May 2, 2018
Interest rates have gone up relatively significantly this year. Figure 1 shows the increases in the one-, three-, five- and 10-year Treasury bond rates through April 18. While interest rates moves of these sizes have occurred a multitude of times in the history of the U.S. …
Fund Distributions and Portfolio Returns
April 20, 2018
Markets can be volatile. It's important to stay disciplined and tune out the noise.
Siena Is Growing!
March 2, 2018
At the end of every year, mutual funds distribute capital gains and dividends. Looking at any part of the portfolio in isolation can cause confusion, and this is especially true when reviewing account statements around distribution dates.
Correction Time: The Market Takes a Hit
March 1, 2018
Siena Investments to open additional location in Williamston in 2019.
A LONG-TERM PERSPECTIVE ON THE STOCK MARKET DOWNTURN
March 1, 2018
After reaching all-time highs on January 26, 2018, the Dow Jones Industrial Average and the S&P 500 went into a two-week slide that saw both stock indexes drop by more than 10%, a decline that is typically considered a market correction.
Tax Cuts and Jobs Act: Impact on Businesses
February 12, 2018
Prior to Feb. 2, the stock market had been through a remarkably tranquil period. Since that date, the U.S. stock market has experienced multiple days with drops of 2 percent or more in a short period of time.
2017 Market Review
January 22, 2018
The Tax Cuts and Jobs Act, a $1.5 trillion tax cut package, was signed into law on December 22, 2017. The centerpiece of the legislation is a permanent reduction of the corporate income tax rate.
Tax Cuts and Jobs Act: Impact on Individuals
January 15, 2018
At the beginning of 2017, a common view among money managers and analysts was that the financial markets would not repeat their strong returns from 2016. Many cited the uncertain global economy, political turmoil in the US, implementation of Brexit, conflicts in the Middle East, North Korea’s weapons buildup, and other factors.
Home Bias and Global Diversification
January 5, 2018
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, a sweeping $1.5 trillion tax-cut package that fundamentally changes the individual and business tax landscape.
More Money Is Lost Waiting For Corrections Than in Them
December 27, 2017
By pursuing a globally diversified approach to investing, one doesn’t have to attempt to pick winners to achieve a rewarding investment experience.
Key Questions for Long-Term Investing
November 30, 2017
We have data for 91 calendar years (or 1,092 months) of U.S. investment returns over the period 1927 through 2016. The average monthly return to the S&P 500 has been 0.95%, and the average quarterly return was 3.0%.
The Uncommon Average
November 10, 2017
Whether you’ve been investing for decades or are just getting started, at some point on your investment journey you’ll likely ask yourself some of the questions below. Trying to answer these questions may be intimidating, but know that you’re not alone.
Lessons for the Next Crisis
October 6, 2017
“I have found that the importance of having an investment philosophy—one that is robust and that you can stick with— cannot be overstated.”—David Booth
INDEXING VS. EVIDENCE-BASED INVESTING
September 29, 2017
It will soon be the 10-year anniversary of when, in early October 2007, the S&P 500 Index hit what was its highest point before losing more than half its value over the next year and a half during the global financial crisis.
EQUIFAX DATA BREACH: WHAT YOU NEED TO KNOW
September 20, 2017
Overview: Many investors may believe that evidence-based investing means simply buying index funds. However, there are some key differences between index investing and evidence-based investing. The following article discusses some of those differences.
September 12, 2017
On Friday, Equifax, one of the major credit reporting bureaus, issued a press release announcing that on July 29 it had discovered “unauthorized access” to data belonging to as many as 143 million U.S. consumers.