Resources

2022 Q2 Quarterly Market Review

Schultz Collins
July 20, 2022

Given the recent increase in stock market volatility, we’d like to talk about the Benefits of Diversification. Put simply, diversification is the way investors reduce risk by owning many different assets instead of just a few. Although it may sound simple, it is more complicated than that. WATCH PRESENTATION HERE  ›

2022 Q2 Quarterly Market Review Article

Schultz Collins
July 20, 2022

Given the recent increase in stock market volatility, we’d like to talk about the Benefits of Diversification. Put simply, diversification is the way investors reduce risk by owning many different assets instead of just a few. Although it may sound simple, it is more complicated than that. READ MORE  ›

Diversification Through Time 2022 - Animated

Schultz Collins
Mar 31, 2022

This is an animated slide show version of our Diversification Through Time posting. Investors have two basic options. They can concentrate their portfolios in, say, the S&P 500 or U.S. Treasuries, or real estate or they diversify broadly over a weighted cross-section of global stocks, bonds and real estate. Which strategy is more likely to produce better long-terms results? Which strategy is less risky? WATCH PRESENTATION HERE  ›

Sequence of Returns Risk

Schultz Collins
May 31, 2022

In this month's video, we would like to discuss a risk factor many investors will face, it’s called Sequence of Returns Risk. WATCH PRESENTATION HERE  ›

Sequence of Returns Risk Article

Schultz Collins
May 31, 2022

In this month's video, we would like to discuss a risk factor many investors will face, it’s called Sequence of Returns Risk. READ MORE  ›

2022 Q1 Quarterly Market Review

Schultz Collins
April 30, 2022

All major stock indices fell in the 1st quarter of 2022. The market volatility stems primarily from the Russian invasion of Ukraine, continued concerns of COVID and the new Omicron variant and related global supply chain issues, persistent inflation, and the effect of rising interest rates. Our feature commentary is on the relationship between Inflation and Nominal Stock Returns. WATCH PRESENTATION HERE  ›

2022 Q1 Quarterly Market Review Article

Schultz Collins
April 30, 2022

All major stock indices fell in the 1st quarter of 2022. The market volatility stems primarily from the Russian invasion of Ukraine, continued concerns of COVID and the new Omicron variant and related global supply chain issues, persistent inflation, and the effect of rising interest rates. Our feature commentary is on the relationship between Inflation and Nominal Stock Returns. READ MORE  ›

Risk-Return Continuum

Schultz Collins
March 31, 2022

The presentation helps investors understand the tradeoffs between the risk and return characteristics of portfolios with different proportions of stocks and bonds. The historical performances of six different hypothetical portfolios are presented in the slides, starting from a portfolio allocated 100% in bonds to a portfolio allocated 100% in stocks. The risk-return characteristics of each portfolio are compared to illustrate the tradeoffs of each asset allocation…. READ MORE  ›

Benefits of Diversification

Schultz Collins
March 31, 2022

The presentation helps investors understand the benefits of investing in multiple assets classes to increase a portfolio’s return potential or decrease its risk exposure. The slides present risk-return characteristics for five different portfolios, starting from a simple two asset class allocation and ending with a more comprehensive allocation. The contribution of each asset class to the overall portfolio is shown along the way. The presentation ends with reviews of the historical premiums some asset classes have over others… READ MORE  ›

Diversification Through Time

Schultz Collins
March 31, 2022

Investors have two basic options. They can concentrate their portfolios – in, say, the S&P 500 or U.S. Treasuries, or real estate – or they diversify broadly over a weighted cross-section of global stocks, bonds and real estate. Which strategy is more likely to produce better long-terms results? Which strategy is less risky?… READ MORE  ›

Building Blocks Chart Last 20 Years

Schultz Collins
March 31, 2022

The Building Blocks Chart is a pictorial depiction of the relative performance of asset classes over calendar-year periods. What’s the likelihood that last year’s winners will repeat? Should the investor avoid asset classes exhibiting recent poor performance?… READ MORE  ›

Building Blocks Chart Last 20 Years With Hypothetical 60-40

Schultz Collins
March 31, 2022

Our annually updated Asset Class Building Blocks Chart ranks the more important asset classes by their performance for each of the trailing 20 calendar years, with the best performing asset class for each year appearing at the top of its column, and the worst at the bottom. The chart includes the performance of a hypothetical portfolio macro-allocated according to a 60% equity / 40% fixed income split. The 60/40 hypothetical portfolio invites a closer scrutiny of the asset classes on the chart.… READ MORE  ›

Building Blocks Chart Last 20 Years With Hypothetical 80-20

Schultz Collins
March 31, 2022

Our annually updated Asset Class Building Blocks Chart ranks the more important asset classes by their performance for each of the trailing 20 calendar years, with the best performing asset class for each year appearing at the top of its column, and the worst at the bottom. The chart includes the performance of a hypothetical portfolio macro-allocated according to a 80% equity / 20% fixed income split. The 80/20 hypothetical portfolio invites a closer scrutiny of the asset classes on the chart…. READ MORE  ›

Building Blocks Chart Starting in 1989-2022

Schultz Collins
March 31, 2022

The Building Blocks Chart is a pictorial depiction of the relative performance of asset classes over calendar-year periods. The chart ranks the more important asset classes by their performance for each year starting in 1989, with the best performing asset class for each year appearing at the top of its column, and the worse at the bottom…. READ MORE  ›

Impact of Investment Expense

Schultz Collins
March 31, 2022

A small difference in investment cost can result in a large difference in the long-run value of a portfolio. The Impact of Investment Expense Chart illustrates the growth of a hypothetical 70% stock and 30% bond portfolio under two different cost structures. The difference in costs compound over time, resulting in large differences in value in the long-run. READ MORE  ›

2021 Q4 Quarterly Market Review

Schultz Collins
January 24, 2022

Many stock markets rebounded in the 4th quarter, ending the year in positive territory. The gains came despite the advent of the Omicron variant disrupting holiday plans, renewed supply chain worries, and mounting concerns about… WATCH PRESENTATION HERE  ›

2021 Q4 Quarterly Market Review Article

Schultz Collins
January 24, 2022

Many stock markets rebounded in the 4th quarter, ending the year in positive territory. The gains came despite the advent of the Omicron variant disrupting holiday plans, renewed supply chain worries, and mounting concerns about… READ MORE  ›

2021 Q3 Quarterly Market Review

Schultz Collins
October 26, 2021

The 3rd quarter was a rough one for equity markets, both in the US and aboard. Stocks ended the quarter relatively flat or down. Despite greater access to Covid vaccines, there were concerns over the lightning fast spread of the Delta variant, worries of rising US inflation, and uncertainties around China. The theme for this quarter's discussion is Why Doesn't Schultz Collins Take Authority Over Client Accounts - & Why is that Important? WATCH PRESENTATION HERE  ›

2021 Q3 Quarterly Market Review Article

Schultz Collins
October 26, 2021

The 3rd quarter was a rough one for equity markets, both in the US and aboard. Stocks ended the quarter relatively flat or down. Despite greater access to Covid vaccines, there were concerns over the lightning fast spread of the Delta variant, worries of rising US inflation, and uncertainties around China. The theme for this quarter's discussion is Why Doesn't Schultz Collins Take Authority Over Client Accounts - & Why is that Important? READ MORE  ›

2021 Q2 Quarterly Market Review

Schultz Collins
July 9, 2021

Stock markets continue to extend their gains from earlier this year, based on a fairly successful rollout of the coronavirus vaccine in the US, and the relaxing of restrictions on public gathering during the pandemic. The theme for this quarter’s discussion is ESG, or funds with an emphasis on environmental, social and governance factors... WATCH PRESENTATION HERE  ›

2021 Q2 Quarterly Market Review Article

Schultz Collins
July 9, 2021

Stock markets continue to extend their gains from earlier this year, based on a fairly successful rollout of the coronavirus vaccine in the US, and the relaxing of restrictions on public gathering during the pandemic... READ MORE  ›

2021 Q1 Quarterly Market Review

Schultz Collins
April 23, 2021

Welcome to the Schultz Collins First Quarter 2021 Quarterly Update. This is a review of Global Market for the first quarter 2021. In general, equities performed well with concerns around the pandemic's effects on the markets... WATCH PRESENTATION HERE  ›

Diversification Through Time - Animated

Patrick Collins
March 5, 2021

Investors have two basic options. They can concentrate their portfolios – in, say, the S&P 500 or U.S. Treasuries, or real estate – or they diversify broadly over a weighted cross-section of global stocks, bonds and real estate. Which strategy is more likely to produce better long-terms results? Which strategy is less risky?… WATCH HERE  ›

2020 Q4 Quarterly Market Review

Schultz Collins
January 25, 2021

Global stock market returns ended the 4th quarter in positive territory based on optimism surrounding a COVID-19 vaccine and the global economy. Most major asset classes ended the year with positive double digit returns... WATCH PRESENTATION HERE  ›

Value Investing — Is It Still Worth The Risk?

Ken Clift
January 25, 2021

This essay chronicles the recent struggles of value-style investing; explores some possible explanations for its poor recent performance relative to both general market indexes [the S&P 500 in the U.S. and the EAFE foreign stock index] and growth-specific indexes; and reports academic assessments of the future prospects for value investors... READ MORE  ›

2020 Q3 Quarterly Market Review

Schultz Collins
October 23, 2020

Despite mild selling in the month of August, global stock markets ended the third quarter with positive returns as economies around the globe slowly learn and adapt to the limitations created by the COVID-19 virus. Even with solid returns in the quarter, some stock asset classes remain in negative territory for the year... WATCH PRESENTATION HERE  ›

Online Security II

Ken McMurray
October 8, 2020

Due to the Covid-19 shelter-in-place rules, many of us are spending additional time online at home. Unfortunately, unscrupulous cyber communities have attempted to take advantage of the situation with an increase in so called “phishing attacks” on many of our home computers. Clearly, cyber security is more important than ever. Hightower and Schultz Collins have recently created and distributed guidance on this topic… READ MORE  ›

Tax Loss Harvesting Program

Schultz Collins
September 15, 2020

Clients sometimes request that sale transactions in taxable accounts be handled on a tax-sensitive basis. If a security is to be sold, the transaction should recognize as little taxable gain as possible. This asset-management strategy is commonly called “Tax Loss Harvesting.”… READ MORE  ›

Online Security

Ken McMurray
December 4, 2019

As we head into the holiday season, we remind you that this time of year, more than ever, it is important to be diligent about securing your identity in your interactions with financial institutions. Taking a few simple precautions can make a huge difference. A word, then, about some of the more important measures you can take to protect yourself… READ MORE  ›

How ERISA Section 404(c) Affects You and Your Firm’s Retirement Savings Plan

Dale Schultz
August 20, 2019

This report is an evaluation of the effect of the U.S. Department of Labor’s regulations on Retirement Savings Plans offering participant-directed investment accounts. Many defined contribution plans and virtually all 401(k) plans allow participants to direct the investments in their respective accounts. The report focuses on the Department of Labor ERISA Section 404(c) regulations which specify requirements for the structure and administration of participant-directed plans.… READ MORE  ›

Financial Exploitation

Kristor Lawson
August 7, 2019

This essay provides a brief description of fraud and exploitation risks that investors are more and more likely to encounter. It concludes by outlining a coordinated effort, encompassing several new programs, which Schultz Collins [SC] has begun to implement. Our goal is to keep your money safe.… READ MORE  ›

Anatomy of an Investment Fund Selection

Patrick Collins
July 30, 2019

Recently, in “Anatomy of Portfolio Trading,” we provided insight into the Schultz Collins trading process. In brief, we outlined the care, skill and caution required to assure an efficient buy/sell transaction. Above all, we emphasized that a hasty process is often imprudent; and we explained why rushed trades can produce poor outcomes. As its title… READ MORE  ›

What Investors and Trustees Should Know about Investment Advice

Patrick Collins
July 17, 2019

Is professional financial advice harmful? This article reviews and evaluates the current state of the U.S. Financial Advisory Profession. It cites findings from academic and governmental regulatory agency sources indicating that the profession is rife with conflicts of interest, abusive practices, and even outright fraud. This is not a matter of “a few bad apples;” rather it is a systematic condition flowing from: (1) The use of asymmetric information to exploit clients, (2) Principal / Agency conflicts (both disclosed and undisclosed), and (3) Embedded compensation incentives designed to reward the advisor to the detriment of the client. Schmooze, deceit, and sophisticated swindling seem to be commonly found attributes. We provide an honest discussion and offer ideas on how to select and compensate an advisor… READ MORE  ›

Anatomy of Portfolio Trading

Jeremy Wolf
April 19, 2019

No matter how carefully a portfolio coordinates with an investor’s objectives and risk tolerance, poorly conceived and executed trades can undercut its long-term success. Although intelligent trading is critical, most investors find it opaque. Confusion arises, in part, because the popular term ‘trader’ connotes someone who trades to maximize short-term profit and loss. P&L-oriented… READ MORE  ›

Modeling Future Investment Results: Portfolio Analytics

Patrick Collins
March 5, 2019

Portfolio Analytics provides technical information on the portfolio model used in your Investment Policy Statement [IPS]. The model employs historical returns, variances and asset class correlations for the period January 1973 through the end the previous year. The model focuses on the economic consequences of the strategic asset allocation decision. It does not take into account contributions and withdrawals, expenses, and taxes. As such, it is an asset allocation model not a prediction of actual future wealth or portfolio withdrawals (consumption)… READ MORE  ›

Longevity Risk and Portfolio Sustainability — An Annotated Bibliography

Patrick Collins
October 11, 2017

A comprehensive annotated bibliography on the topic of “Longevity Risk and Portfolio Sustainability” is now available. It is primarily intended to act as a reference source for scholars conducting research in this field… READ MORE  ›

Portfolio Management: Theory & Practice

Schultz Collins
January 13, 2017

Since our inception, the core mission of Schultz Collins has been to help investors make rational, informed and intelligent investment decisions. Prudent decision making, however, requires a basic understanding of capital markets and a familiarity with evolving research in the field of Financial Economics. In 2006, we published Portfolio Management: Theory and Practice to summarize relevant academic findings. The book’s goal is to provide a short, non-technical introduction to portfolio design, implementation, monitoring and management. It is directed towards investors wishing to understand critical asset management issues without having to become experts in the fields of finance, economics, and statistics. READ MORE  ›

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