Bellwether Consulting is an investment consulting firm
for institutional investors. Our clients look to us for insight on the financial markets, recommendations concerning investment decisions, and fiduciary oversight.
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Keith Hocter's book,
Setting the
Table, provides practical advice to investment decision-makers sponsoring
401(k) or other employee-directed plans. Available directly from the
publisher at
xlibris.com.
Bits of disappointing economic data produced a selloff
in the US stock and credit markets, while the unfolding sovereign debt
crisis hammered foreign stocks. In this quarter’s
Market Recap newsletter,
we explore and confirm new consensus expectations for slowing growth.
“Developed” markets are safe, “emerging” markets are risky – for
decades this simple rule of thumb has driven capital allocations for
institutional stock market investors, producing sizable overweights to
the U.S. and developed Europe. This quarter’s Focus article recalls the
Gilded Age at the turn of the previous century when global financial
leadership rotated. Similar forces at work today suggest to us that
these overweights should be re-examined.
