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Wealth Watch Newsletter

The markets are complex.  In today’s data age, it’s easy to find more points of information.  However, it’s harder than ever to find out what parts of that information actually matter to you.  That’s the reason behind Wealth Watch.  At BDF, we want to make sure we are always thinking about what’s relevant and keeping you in the loop.

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Coronavirus Uncertainty Leads to a Bear Market

This Coronavirus (COVID-19) has continued to bring not just volatility to the market, but negativity.  With the classification officially moving to pandemic on Wednesday, we’ve seen even more worry.  This week alone we’ve seen the biggest point decline of the Dow ever followed immediately by over a 1,000-point jump and then another day of volatility […]

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Coronavirus and Market Volatility Revisited

The wild ride that has been the market as of late continues. Driven by a surge in cases of the Coronavirus in South Korea, Italy, Iran, and the United States, last week was the worst week for the stock market since the financial crisis. U.S. equities dropped by double digits with the Dow Jones Index […]

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Coronavirus – The Market Says It’s Supposed to Get Worse

The year 2020 has started with quite the lineup of geopolitical issues.  The one stealing all eyes as of late has been the Coronavirus.  This past weekend, news got worse.  South Korea, Italy and Iran all reported new and escalating cases with Italy now reporting to be the largest impact area outside of China.  All […]

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Factor Primer Series: Multifactor

All good things must come to an end, and this piece concludes our series on factor investing (What is a Factor?; Small-Cap; Value; Momentum; Profitability).  Here we’ll look at bringing all the factors together, in what we will refer to as multifactor investing. As a reminder, we have defined factors as a source of excess […]

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Mind Over Markets

On January 16th and January 23rd, BDF held its Annual Client Event in Itasca and Downtown Chicago, respectively, with over 400 clients and guests in attendance. For those not able to attend, here is a recap of the event. Market Review Chad Carlson, Director of Investment Research, reviewed 2019 – an excellent year for the […]

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Factor Primer Series: Profitability

As we ease into not only a new year but a new decade, we continue our series on factor investing (What is a Factor?; Small-Cap; Value; Momentum). Today, we dig into the profitability factor. As a reminder, we have defined factors as a source of excess return that is sensible, persistent over long time periods, […]

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Good 2019, Good 2020?

The year 2019 has been filled mostly with joy from a market perspective.  Most days, weeks, and certainly months you could look at your statement and feel quite good about the progress made.  So good, it leads many to ask whether the gifts the market has been giving can keep on coming or has the […]

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Factor Primer Series: Momentum

The Chicago Bears downed the Dallas Cowboys last week.  After what looked to be a lost season several games ago, they are now riding the wave of winning momentum and clinging to the idea that the playoffs may still be within reach with more of the same recent, positive experience.  Returning to our series on […]

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The State of the State – Revisited

In May 2017, Gurtin Municipal Bond Management presented “Illinois and Chicago Credit Update,” which was an insider’s look at the state of the municipal bond market in Illinois and Chicago. It was an informative but sobering look at the many financial challenges faced by Illinois and Chicago. Just recently, Gurtin returned with “Updates for the […]

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Factor Primer Series: Value

Coming back to our series on factor investing (What is a Factor?; Small-Cap), this installment will focus on the value factor. As a refresher, we defined factors as a source of excess return that is sensible, persistent over long time periods, pervasive across markets, and cost-effective to capture. What is the Value Factor?  Broadly speaking, the […]

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Zero Commission Revolution

Sending shockwaves across the investment world, Charles Schwab announced zero commissions for stock and exchange-traded fund (ETF) trading effective October 7 (mutual funds will still have a small cost to buy and sell). Rival brokers, TD Ameritrade, E*TRADE, and later, Fidelity, followed suit. The move to zero commission trading is aimed at both keeping clients […]

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Factor Primer Series: Small-Cap

Returning to our series on factor investing (What is a Factor?), today we turn our attention to small-cap stocks. As a reminder, last time we defined factors as a source of excess return that is sensible, persistent over long time periods, pervasive across markets, and cost-effective to capture. What is the Small Cap Factor?  The […]

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