by Dr. JoAnne Feeney Portfolio Manager If you’d gone away for a silent meditation retreat last week, you’d have come back to find your portfolio little changed and would have remained fairly calm, but only until you turned on the news. The S&P 500 finished last week roughly flat, but the violent ride from Monday to...Read More

by Dr. JoAnne Feeney Portfolio Manager   The news on the novel coronavirus continues to roil markets and we are getting more frequent questions as to the likely economic and market impact, and what, if anything, investors should do about it. As recent reports shifted from rising recoveries in China to new cases in Europe, Asia,...Read More

Behavioral finance warns of an investment tendency called “anchoring” and the arbitrary benchmarks of index investments. Read Forefront’s Amit Chopra’s thoughts on “anchoring” for index investors in this article.   ACM is a registered investment advisory firm with the United States Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill...Read More

    By: Dr. Charles Lieberman  – Chief Investment Officer I still read quite often how stocks are extremely expensive or badly overvalued. Such a determination can’t be done in isolation. It is necessary to place the valuation of stocks into context versus other asset prices. Stocks are certainly not expensive relative to Treasury bonds...Read More

By: Kevin Kelly – Portfolio Manager United States, the 10-year Treasury Bond yields less than 1.5% and the 30-year Treasury Bond provides less than 2.0%, a new all-time low. The average investment grade bond yield is the lowest in history at around 2.60%. The Japanese 10-year is negative 0.07% while the German 10-year yields are...Read More

by Joseph Pecoraro Investors and the media look to the S&P 500 index to benchmark portfolio stock performance.  Many investors believe that by purchasing the index they have a diversified equity portfolio.  This couldn’t be further from the truth. The S&P 500 index is a top-heavy index that is weighted towards large cap, or mega cap...Read More

by Dr. Charles Lieberman The stock market doesn’t need a reason to go down.  Nonetheless, we remain positive on its prospects for 2020, given that we see little risk of recession, a deal with China on trade, moderate GDP growth, a resumption in growth in corporate profits, still moderate inflation and a Fed likely to keep...Read More

by Dr. JoAnne Feeney Portfolio Manager The broader U.S. economy appears to be growing solidly, yet many pundits wonder for just how long stocks can continue to rise. Valuations in most sectors are markedly above 5- and 10-year averages. Still, the big picture reveals that employers are creating more jobs (even with labor in short supply),...Read More

by Kevin Kelly Portfolio Manager 2019 was an exceptionally strong year for fixed income, as well as for the equity markets. One consequence is that 2020 will be more challenging and require a somewhat different approach. We are unlikely to see the strong returns we captured in 2019, so we must position for low rates and...Read More

Most every day there are multiple articles advising investors on how to prepare for the impending recession, or forecasting recession, or highlighting the vulnerability of record stock prices to the widely expected recession.  These articles reflect the need of the media to attract eyeballs and the desire of some pundits to garner attention.  Anyone can...Read More