Q4, 2018 Asset Class Return Quilts

January 5, 2019

The complete quilt deck can be downloaded here.

 

Some highlights:

  • The top three performers for 2018 (cash, muni bonds and U.S. taxable bonds) were all ranked in the bottom five of performers for 2017.

  • Recent weakness was not enough to unseat U.S. large caps from their spot as the top-performer for the last ten years. REITs were in a close second place.

  • Higher short-term interest rates and widespread weakness across virtually all other global asset markets helped move cash to the top-performer spot for 2018.

  • Despite a strong 2016 and spectacular 2017, weakness earlier in 2018 and poorer returns from 2013 to 2015 have resulted in emerging market stocks trailing U.S. stocks by over 5% p.a. for the last ten years.

  • Commodities remain in last place over the last ten years despite back-to-back annual gains in 2016 and 2017.

  • If history is a guide, the strong relative performance of U.S. stocks for the last decade - and especially since 2013 - suggests a rotation to leadership from another asset class shouldn't be ruled out.

 

 

IMPORTANT DISCLOSURES

SpringTide Partners, LLC is a Registered Investment Advisor with the state of Illinois and other states jurisdictions where required. Registration with the SEC or any state securities authority does not imply a certain level of skill or training. All information contained herein is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services. All investing carries risk including risk of principal loss. All statements made on this website are opinions of SpringTide Partners, LLC and are subject to change. SpringTide Partners, LLC assumes no responsibility towards the accuracy of the data included. Statements made on website shall not constitute investment advice.

 

 

 

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