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📑 Research Notes for 2021-04-19
This week, we look at the struggle of emerging market stocks, record housing starts, active managers, and the U.S. strategy for space.
We are a California-based registered investment advisor and investment thought leader, updating you on this week’s top investment observations and market performance.
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Emerging market stock indices are struggling except for Vietnam.
Chinese stocks have been struggling lately, however, Vietnam just registered a new 252-day high this week. Other emerging market countries, including Chile, Taiwan, Mexico, and South Africa all remain within five days of a 252-day high.
Housing Starts increased to 1.74 Million Annual Rate in March.
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,739,000. This is 19.4 percent above the revised February estimate of 1,457,000 and is 37.0 percent above the March 2020 rate of 1,269,000.
The Stage Is Set For Active Managers to Demonstrate Skill.
It is well established that active equity collectively underperformed its passive counterpart over much of the last 10 years. Some of this underperformance can be attributed to the many closet indexers that are included in the “active” equity universe. What is not so well known is that active funds have gone through extended periods of under- and outperformance.
The U.S. Strategy for Space.
Caspian Reports outlines the United States’ plans for its newly created Space Force.
Curated by Joseph Lu, CFA®
Joseph has over a decade of experience as an investment professional, primarily in quantitative analysis and portfolio management roles. He is the founder and managing director of Conscious Capital Advisors and a CFA® Charterholder. The CFA charter is a globally respected, graduate-level investment credential by the CFA Institute, a global association of more than 90,000 investment professionals working in over 133 countries.
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