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Benjamin Lavine, CFA, CAIA
Phil Lubinski, CFP
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Happy 8th Anniversary Bull Market

Author: Benjamin Lavine, CFA, CAIA

Has it been eight years since the world emerged from the 2008 Great Financial Crisis that ended (in hindsight) with the S&P 500 reaching a low of 676.5 on March 9, 2009 before sharply recovering? Since March 9, 2009, the S&P 500 has a cumulative total return 314% (Exhibit 1). From the prior peak on October 9, 2007, the S&P’s cumulative total return is 85%. Not bad for buy-and-hold investing despite major hiccups in 2011 and late 2015-early 2016 when the S&P dropped more than 10%.

February 2017 Market Commentary

Author: Benjamin Lavine, CFA, CAIA

What appeared to be investors taking a ‘breather’ on the cyclical, reflationary ‘Trump’ trade following January’s reversal has now morphed into a risk-off posture. Much of the recent shift in risk postures is related to investors questioning the government’s resolve to push through infrastructure spending and tax reform.

Trump versus Bonds Webcast – A Synopsis of Key Issues Facing Fixed Income Investors

Author: Benjamin Lavine, CFA, CAIA

What follows is a synopsis of 3D’s Advisor Success Series, “Trump versus Bonds,” focusing on discussion points surrounding current issues facing fixed income investors. On February 14, I had the pleasure of serving as moderator on a panel comprising two fixed income ETF specialists (Paul McGinn from First Trust and James Meyers from Powershares) to discuss the challenges facing fixed income investors following the steep 4th Quarter 2016 sell-off of interest-rate sensitive assets.

January 2017 Market Commentary

Author: Benjamin Lavine, CFA, CAIA

January turned out to be a reversal on what worked in the 4th quarter of 2016. Large cap growth and momentum styles dominated U.S. equity performance while ex-U.S. markets outperformed the U.S. on the back of a weakening U.S. dollar.

Deconstructing Active: Multi-Factor ETFs for Designing Investment Programs

Author: Benjamin Lavine, CFA, CAIA

Several articles have been published on ‘Multi-Factor Exchange-Traded Funds (ETFs)’ specifically commenting over issues of model design (see articles from Larry Swedroe and Corey Hoffstein). This article expands upon the perspective provided by Todd Rosenbluth (CFRA) on the importance of looking underneath the hood when evaluating multi-factor ETFs. For this article, I ran several U.S.-focused multi-factor ETFs through Bloomberg’s Risk Model as a means to objectively compare the ETFs’ risk profiles, further demonstrating the importance of ‘knowing what you’re buying.’

2016 Year-End Market Commentary

Author: Benjamin Lavine, CFA, CAIA

U.S. stocks turned in another year of positive performance, extending the current bull market to almost eight years. The S&P 500 returned 12% leading all other major regions helping to cement U.S. equity dominance over global markets.

Stockpiling Income – An Update (December 2016)

Author: Benjamin Lavine, CFA, CAIA

We at 3D have been working with an increasing number of advisors who take a more holistic approach in building custom income distribution plans for their clients. 3D’s investment strategies are tailored for outcome-oriented solutions such as retirement income planning.

November 2016 Market Commentary

Author: Benjamin Lavine, CFA, CAIA

Despite an initial sharp overnight sell-off, global equity markets soared following the election of Donald Trump as the next president of the United States.

0 For 2

Author: Benjamin Lavine, CFA, CAIA

At the time of this writing, the S&P futures had dropped 2% following the electoral outcome that saw Republican nominee Donald Trump secure the presidential bid and the Republican party retaining both the House and Senate. The Germany DAX had also dropped 2% while the Japan Nikkei dropped 5.2%. Although the negative market reactions were not on the same scale as Brexit back in June, clearly the markets had been positioned for a contrary outcome.

October 2016 Market Commentary

Author: Benjamin Lavine, CFA, CAIA

Developed markets were moderately down in October partly in response to rising rate anxieties prompted by perceived shifts in global central bank policy and rising inflation expectations.

We are pleased to announce 3D Asset Management’s acquisition by 55 Capital, which was founded by ETF pioneers and investment thought leaders.

We are excited about this acquisition because it brings together two innovative firms with complementary products and common values. We believe it will be very additive to you and your practice. This acquisition will significantly enhance our capabilities and allow us to provide a wider array of products and services.

For more details, please click below.