Risk and Return
October 23, 2025 — A number of clients have asked us about a recent Buttonwood column describing the "Permanent Portfolio" strategy. Are appealing returns enough to override the basics of asset allocation?
Risk and Return
October 6, 2025 — U.S. stock buybacks are on track for a record in 2025 - but they also raise important questions.
Risk and Return
August 12, 2025 — To what extent has the exceptional US stock market performance been due to US companies riding a strong wave of real GDP growth to generate exceptional earnings growth?
Risk and Return
July 1, 2025 — What do you stand to inherit? It still feels like a question from a different age, despite its growing importance today.
Risk and Return
June 9, 2025 — Bond markets are a valuable source of information about the future. If you believe in the wisdom of crowds - particularly when the crowd is big, has lots of money and tends to focus on cash flows rather than blithely extrapolating future returns from the past - then you'll want to know what the bond market crowd has to say.
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The content on this page is being provided as general market commentary and for educational purposes only. It does not constitute any form of investment advice, or any form of recommendation to buy or sell any securities or adopt any investment strategy mentioned herein, or any form of advertisement for Elm Wealth services or strategies. Any investment strategies and investment results discussed herein are for illustration purposes only in the context of the commentary, and do not reflect actual or hypothetical Elm Wealth strategies or results, or an offer to provide such strategies or results. This content is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. The information contained in the commentaries is derived from sources deemed by Elm Wealth to be reliable but its accuracy and completeness cannot be guaranteed. This material does not have regard to specific investment objectives, financial situation and the particular needs of any specific reader. Any views regarding future prospects may or may not be realized. Past performance is no guarantee of future results.
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