After declines of 10% or more, equity returns over the subsequent 12 months have been positive over 70% of the time.
The increased market volatility in the fourth quarter of 2018 underscores the importance of following an investment approach based on diversification and discipline rather than prediction and timing.
Looking at broad market indices, the US outperformed non-US developed and emerging markets during the quarter.
Quarterly Topic: Total Cost of Fund Ownership. The article starting on page 16 illustrates to importance of mutual fund operating costs and that investors should consider going beyond expense ratios when evaluating options.
Looking at broad market indices, the US outperformed non-US developed and emerging markets during the second quarter.
Almost all currencies depreciated vs. the US dollar.
Last year International Developed Stocks and International Emerging Stocks outperformed US Large Stocks.
Year-to-date US Stocks are outperforming International Stocks.
For the 10 year period from 2000–2009 the S&P 500 lost -9.10%. International investments logged significant gains during this period.
Looking at broad market indices, emerging markets outperformed developed markets, including the US, in the first quarter.
Non-US real estate investment trusts outperformed US REITs in the first quarter.
Interest rates increased in the US during the first quarter.
The yield on the 10-year Treasury note increased to 2.74%.
