Multifactor strategies have become a central part of the investment conversation. While investors still try to wrap their heads around these different multifactor strategies, we wanted to take advantage of the recent break from the bull market to compare and contrast real-time performance—in both up and down markets.
No sitting U.S. president has ever met with a leader of North Korea. That may soon change. President Donald Trump announced in early March that he’s accepted an invitation to meet with North Korean dictator Kim Jong-un as early as May. This could remove one of the major geopolitical risks hanging over the market, specifically in Northeast Asia.
The WisdomTree Emerging Markets ex-State-Owned Enterprises strategy allows investors to gain broad exposure to emerging markets without assuming the risk of owning state-owned enterprises. Luciano Siracusano explains why we believe this innovative WisdomTree ETF sets a new standard for measuring the returns of “private sector beta” across emerging market equities.
Market corrections are like forks in the road. It’s hard to know in the moment what the future path holds or which road to take, especially as bull markets age. This is one of the reasons investors who try to time or trade the market miss out on its long-term returns.
Last week the Dow Jones Industrial Average oscillated within a 2,500-point range. In a typical correction, market sell-offs can take weeks or months to unfold. But in today’s environment, corrections can be completed in a matter of hours. What caused the sell-off, and what does it mean for potential returns going forward?
Jeremy J Siegel
Senior Investment Strategy Advisor
Luciano Siracusano III
Chief Investment Strategist
Jonathan Steinberg
CEO of WisdomTree
Jesper Koll
WisdomTree's Head of Japan
Jeremy Schwartz, CFA
Director of Research
Christopher Gannatti, CFA
Head of Research, Europe
Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he will be based out of WisdomTree’s London office and will be responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. Christopher came to WisdomTree from Lord Abbett, where he worked for four and a half years as a Regional Consultant. He received his MBA in Quantitative Finance, Accounting, and Economics from NYU’s Stern School of Business in 2010, and he received his bachelor’s degree from Colgate University in Economics in 2006. Christopher is a holder of the Chartered Financial Analyst designation.
Kevin Flanagan
Senior Fixed Income Strategist
Bradley Krom
Associate Director of Research
Tripp Zimmerman, CFA
Associate Director of Research
Rick Harper
Head of Fixed Income & Currency
Gaurav Sinha
Asset Allocation Strategist
Anita Rausch
Head of Capital Markets
Michael Barrer
Senior Associate of Capital Markets
Paige Kyle
Capital Markets Associate
David Abner
Head of Europe
Christopher Carrano
Quantitative Research Analyst
Joseph Tenaglia, CFA
Asset Allocation Strategist
Jeff Weniger, CFA
Asset Allocation Strategist
Matt Wagner
Research Analyst
Alejandro Saltiel, CFA
Quantitative Research Analyst
Alejandro Saltiel joined WisdomTree as a Quantitative Research Analyst in May 2017. He is responsible for quantitative research on WisdomTree’s products and global equity markets. Prior to joining WisdomTree, Alejandro worked at HSBC Asset Management’s Mexico City office as Portfolio Manager for multi-asset mutual funds. He started his career working at a boutique hedge fund that specialized on trading options on sector-levered ETFs. Alejandro received his Master’s in Financial Engineering degree from Columbia University in 2017 and a Bachelor’s in Engineering degree from the Instituto Tecnológico Autónomo de México (ITAM) in 2010. He is a holder of the Chartered Financial Analyst designation.
Josh Russell, PhD, CFA
Quantitative Equity Strategist
With December 16 marking the last opportunity for the Federal Reserve (Fed) to raise interest rates in 2015, market participants now put the odds of a Fed rate hike in December at nearly 80%—up from the 32% probability given to a rate hike just three months ago in September.
The euro area and the United States are comparable in numerous ways, including population and relative economic size. Since the financial crisis, they have also shared a common goal of escaping from the jaws of a balance sheet recession, as deleveraging has posed a headwind to economic growth on both continents.
One of the big trends in the exchange-traded fund (ETF) industry has been this year’s flow of new money into developed world equity ETFs, both unhedged and currency hedged. WisdomTree estimates that nearly $100 billion of this year’s $171 billion in ETF industry inflows cascaded into these funds through the end of October.
Next year’s “open election,” where there is no incumbent in the race, may present a new obstacle for the stock market to overcome. With grassroots voters in each party coalescing around nontraditional candidates, not only are the early poll results a signal of wider discontent in the electorate, they also widen the possible policy outcomes that could follow next November’s elections.
Back on July 20, with U.S. stock indexes not far from their yearly highs, I said on CNBC that I expected the market to become choppier over the next three months. I pointed out that with the S&P 500 Index trading at nearly 19 times—and corporate earnings unlikely to advance in the second half of the year—the market would need to digest not just the slowdown in China but also the uncertainty that would accompany a pending Federal Reserve rate hike.