Asset Allocation

The Total Portfolio Approach: From Whiteboard To Execution

Special Report

Everyone is talking about the Total Portfolio Approach. Few are explaining how to do it. A new series from BCA’s Portfolio Construction team takes TPA from whiteboard to execution. The first three reports cover running the team, building the portfolio, and how TPA and Evergreen funds are reshaping Private Markets.

2 days ago

Asset Allocation Private Markets

CoreMacro

MacroQuant Model Update: Show Me The Money

MacroQuant recommends a slight underweight to equities and an overweight to bonds and cash. The model is bullish on the US dollar, negative on gold, very negative on copper, and neutral on oil.

6 days ago

BCA Indicators/Model Asset Allocation Financial Markets

Portfolio

NBA To TPA: Three Principles To Run The Team

The Total Portfolio Approach stumbles really on one thing: the team. Everyone says it, but nobody has prescribed the fix. We provide three logistical principles that close the gap. And they work for SAA investors too.

1 week ago

Private Markets Asset Allocation Risks

Essentials

On Whether Bonds Will Hedge Stocks During The Next Recession

An overwhelming share of BCA clients expects US Treasuries to be a good hedge against equities in the next recession. In last week's poll, we asked our clients if they think US Treasuries will be a good hedge against equities in the next recession. 72% expect…

2 weeks ago

Asset Allocation Equities Fixed Income

Essentials

Global Asset Allocation: Less Optimistic On Stocks

The median BCA strategist has downgraded equities from overweight to neutral on a 12-month horizon in a global portfolio. The downgrade is more a reflection of our low conviction in the previous overweight than a change in our broader outlook. Two factors…

2 weeks ago

Asset Allocation

Essentials

A New Cycle Low For The US Equity Risk Premium

Relative to bonds, equities have become the most expensive in over two decades. Investors often examine P/E ratios in isolation, but equity valuations should take the prevailing level of bond yields into consideration. In a world with low risk-free rates of…

4 weeks ago

Equities Fixed Income Asset Allocation

Essentials

Picking Up $20 Bills In Front Of The Steamroller

Our Portfolio Construction strategists maintain their overweight to high-yield credit, both within their public asset allocation and versus Private Credit. Higher government bond yields have reset the opportunity set. BCA's capital market assumptions project…

1 month ago

Fixed Income Asset Allocation

CoreMacro

MacroQuant Model Update: A Constellation Of R-Stars

MacroQuant recommends an underweight to equities and bonds, counterbalanced by a significant overweight to cash. The model is very bullish on the US dollar, slightly negative on gold and copper, and positive on oil.

1 month ago

BCA Indicators/Model Asset Allocation Financial Markets

Essentials

Downgrading The US Within A Global Equity Portfolio

The consensus among BCA's strategists remains overweight equities and neutral across bonds and cash on a 12-month horizon. Within equities, the US moves to underweight relative to MSCI ACWI on a 12-month view; on a 3-month horizon, we remain overweight.…

1 month ago

Asset Allocation Equities Fixed Income

Essentials

The Next Test For The Bull Market

Higher bond yields are becoming a more important risk for equity markets, but the implications depend on whether Fed tightening remains mild or develops into a genuine hiking cycle. At our September Views meeting, our US Bond strategists outlined two…

1 month ago

Asset Allocation Equities Fixed Income

Asset Allocation

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