Quarterly' Quant Coalescence

PCM QC: Quant Coalescence 09.30.2017

Most of PCM’s composites have tracked their respective indices (ETF’s) performance, below, and in some cases surpassed their respective benchmarks. All of our 22 composites are constructed with an element of “risk management”.

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Market Pulse

PCM 2016 Market Outlook: January 11, 2016

I believe that the U.S. financial markets may be nearing the end of the third stock market bubble in fifteen years. By some measures, equity valuations have reached the most extreme point in history. Market "internals" are starting to break down. Unless one has a 25 year time horizon, now is one of the worst times in history to enter into a traditionally allocated "buy and hold" equity and bond portfolio.

Using seasons as a metaphor, it is late fall in the U.S. equity market and economic cycle. There is a winter season coming. Between now and 2022, broad U.S. equity indexes are at risk of falling 50% to 60%.

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