A Santa Clause Rally?

The S&P 500 is up more than 3% this week, leading the talking heads on TV to once again declare that a “Santa Clause Rally” is unfolding. It may seem kind of silly to hear professional investors talk in such terms, but December has historically been the best month for stocks.

Our Journal of Financial Planning Study, Translated into English

Readers who visit the Pinnacle Advisory Group website (pagmain.wpengine.com) will note that a paper by Solow, Kitces, and Locatelli, entitled “Improving Risk Adjusted Returns Using Market-Valuation-Based Tactical Asset Allocation Strategies,” was published in the December issue of the Journal of Financial Planning (JFP) – the most distinguished journal in the profession. The paper itself is…

The Great Decoupling Myth

Recently U.S. data has taken a more positive tone as international data continues to get softer. Thursday’s U.S. data brought a very strong number on jobless claims, along with two regional manufacturing surveys that were better than expected. Industrial production numbers were weak, but on balance more data beat estimates than missed, and that’s been…