RIABiz, an online publication geared towards financial advisors, recently reported on money manager Windhaven Investment Management's year to date performance and asset growth. "Since Charles Schwab & Co. acquired it a year ago, the Boston-based money manager's assets have surged 77% - to $8 billion from $4.5 billion." Windhaven's "three portfolios underperformed their benchmarks for the 12-month period ended October 31, but the company is raking in assets despite the relatively low returns." WrapManager has repeatedly advised against chasing recent past performance. Investors are often attracted to the latest 'hot' manager and the associated recent returns. Click here to download our report about the dangers of chasing past performance. We illustrate these dangers using Churchill Management Group’s performance as an example. "Windhaven's portfolios," as the article continues, "comprising primarily exchange-traded funds, are built to help investors weather bad markets by lessening their risk while often not generating quite as much return in an up market." "The three strategies are performing as expected, over the long term - which is what they are designed to do," says Bryan Olson, president of Windhaven. "While the long-term growth is strong, Olson concedes that these funds typically do better in a down market but won't perform as well in an up-tick." This can be seen during the market turmoil of 2008. To learn more about Windhaven, their strategies, and Windhaven's performance, simply click here and request the information you would like. Source: RIABiz Get Free Research Reports about Windhaven Investment Management [+] Read More

Money manager ClearBridge advisors notified clients on December 1st, 2011 of CEO Peter Sundman's departure. Part of the reason behind the departure is cost, although other details were not available. Any material impact on the investment teams at ClearBridge seems unlikely as the investment teams and Chief Investment Officer remain in place. The position will not be filled with a replacement and instead the CEO responsibilities will be consolidated with those of ClearBridge President Terrence Murphy. Murphy served as the Chief Operating Officer at ClearBridge since 2006 and was promoted to President in 2011. Prior to his work at ClearBridge, he was part of the Citigroup Asset Management team holding positions as director of planning and analysis and chief financial officer. Source: Morningstar Advisors [+] Read More

With the dramatic events in Europe over the last few days, Louis Navellier is out with a special market update describing what's going on. "What is killing Greece and Italy is that their cumulative budget deficits are larger than the U.S. relative to GDP. When interest rates were low, both Greece and Italy could manage their interest burdens, but now that both countries are characterized by soaring interest rates, they have hit their respective breaking points." Download Full Commmentary Here Get Free Research Reports about Navellier & Associates, Inc. [+] Read More

Churchill Management Group’s latest commentary focuses on the market rallies and weak technical indicators. “It continues to appear we are in that choppy period. The risk of being whipsawed during short-term rallies is high, so we will want to proceed with caution to ensure that the table is set for a sustainable run that will have legs and not just one that is bouncing around within a trading range.” Download Churchill’s Full Commentary Here Get Free Research Reports about Churchill Management Group [+] Read More

Eagle Asset Management reviews the performance of their Small Cap Growth portfolio and the markets in their third quarter update. "The market was hit in the third quarter by a triple play that began with lower estimates of domestic growth, followed by the financial crisis in Europe and, most recently, growth forecasts slowing in China. We believe the lower estimates in domestic growth and associated financial issues already have been discounted in the current pricing environment." Download Full Commmentary Here Get Free Research Reports about Eagle Asset Management Inc [+] Read More

Lord Abbett's Milton Ezrati discusses U.S.-China trade relations and the potential for Congress to label China as a "currency manipulator." "If Congress can label China a "currency manipulator," then tariffs aimed at China become likely, as does Chinese retaliation in a pattern that would hurt world trade, growth prospects in both countries, and asset values on both sides of the ocean and beyond." Download Full Commmentary Here Get Free Research Reports about Lord Abbett Company Llc [+] Read More

Navellier's third quarter commentary discusses high-frequency trading, S&P 500 earnings, the banking sector and Operation Twist. "In the aftermath of the recent selling capitulation, there are many incredible buying opportunities at hand, especially before another round of positive earnings announcements. We believe aggressive investors should be prepared to deploy capital before the third-quarter earnings announcement season commences. We realize the overall stock market has been worrying over the past quarter. Fortunately, the seasonally strong time of year is fast approaching, and as the holidays arrive, we believe there will be many opportunities for savvy investors." Download Full Commmentary Here Get Free Research Reports about Navellier & Associates, Inc. [+] Read More

Calamos third quarter commentary expresses many concerns about the global economy, but ultimately concludes that the healing process has begun. "We believe that emerging markets can come to the rescue, at least for the next few years. The imbalances in the global economy can be unsettling, as we noted, but these same imbalances create opportunities for countries, companies and investors on a global scale." Download Full Commmentary Here Get Free Research Reports about Calamos Investments [+] Read More

BlackRock's Chief Equity Strategist Bob Doll explains his thoughts for the third quarter and what information will be guiding the market. "Overall, our view remains that the United States will avoid a recession, but we acknowledge that the pressures are growing. Ultimately, we believe the outcome of the European situation will help determine whether or not, and in what direction, markets will be able to break out of their current trading range." Download Full Commmentary Here Get Free Research Reports about Blackrock Inc [+] Read More

In one of the most informative pieces about the situation in Europe, JP Morgan Asset Management does an excellent job examining the history of the Euro and Eurozone and reviewing possible outcomes. We highly suggest reading this commentary, which examines: 1) the underlying issues plaguing Europe, 2) a summary of steps taken to address them so far, 3) a look at possible next steps and solutions, and 4) a few thoughts on investing in such difficult times. Download Full Commmentary Here Get Free Research Reports about JPMorgan Asset Management [+] Read More

Money manager Wentworth Hauser & Violich is out with their 2011 summer review and outlook. "Virtually all economic indicators point toward continued economic expansion within the United States in the period ahead. Economic and employment growth will be slower than in past periods due to the headwinds created by government policies regarding regulation, mandates, rules, taxation and overall barriers to free market capitalism." Download Full Commmentary Here Get Free Research Reports about Wentworth, Hauser & Violich [+] Read More

Bob Doll, Chief Equity Strategist at money manager BlackRock believes the fundamental foundations for the global economy should be sufficient to keep the recovery on track. "Our summary view is that we believe investors are overly pessimistic about the possibility of a renewed recession in the United States. It is important to remember that equity markets have a poor track record as acting as predictors of recessions and corporate fundamentals remain strong. Since 1950, the United States has never entered a recession with corporate balance sheets as flush with cash as they currently are." Download Full Commmentary Here Get Free Research Reports about Blackrock Inc [+] Read More

Churchill Management Group explains why they believe we are most likely in a bear market and how they plan to position themselves accordingly. "We continue to believe that the Secular Bear market in stocks, which began back in 2000, will not end until after the Presidential Election in November of 2012. The Secular unwinding does not mean that there can't be a great Bull Market run between now and its conclusion, as we have seen in 2003 and 2009. It just means the U.S. economy remains in the process of unwinding the excesses of the previous decades, and it still has more work to do." Download Churchill’s Full Commentary Here Get Free Research Reports about Churchill Management Group [+] Read More

John P. Calamos and Nick P. Calamos of money manager Calamos Investments give their thoughts on the recent market downturn and surrounding events. "Throughout July, market participants grew increasingly apprehensive about global growth and government debts. As anxieties bubbled over in early August, the see-sawing in the markets gave way to frenetic gyrations. Investors are rightly concerned about many of the issues facing the U.S. and global economies, but we continue to caution against emotion-driven reactions, whether markets are advancing or declining." Download Full Commmentary Here Get Free Research Reports about Calamos Investments [+] Read More

Money manager Janus reviews need to know information about inflation and the implications to the global equity and fixed income markets. "Rising inflationary pressures have become a greater concern for many investors. In a recent roundtable discussion, Janus Portfolio Managers John Eisinger and Matt Hochstetler, and Head of Fixed Income Strategy Colleen Denzler, weigh today's potential inflation risks. The group offers insights about the recent climb in commodity prices, the challenges firms may face with margin compressions and how the changing inflation landscape is shaping opportunities across fixed income and equity markets worldwide." Download Full Commmentary Here Get Free Research Reports about Janus Capital Management LLC [+] Read More

BlackRock's Municipal Bond Management Committee reviews recent developments in the muni bond market. "We maintain a neutral view for the market, but with a bias toward greater risk taking through increased exposure to municipal credit. Recent favorites have included names in the transportation and hospital sectors. We remind investors that careful credit research and selectivity remain important in the still uncertain economic and market environment." Download Full Commmentary Here Get Free Research Reports about Blackrock Inc [+] Read More

Money managers John and Nick Calamos of Calamos Investments dissect many of the issues the world is waiting on to be decided. "Even though we may find ourselves in a waiting game as the global financial markets and economy navigate the current challenges, we are not sitting by passively. We see opportunities, and we are acting on them. Reflation, the growth and prosperity of emerging markets, global corporate competition and the technology revolution are creating a breadth of investment choices for us." Download Full Commmentary Here Get Free Research Reports about Calamos Investments [+] Read More

Money manager Lazard is out with their latest quarterly commentary regarding Emerging Market equity and fixed income. "Over the next 12 to 18 months, we believe that the outlook in emerging markets remains relatively strong and that growth rates will slow to a healthy level. Furthermore, we continue to expect headline inflationary pressures to subside as growth declines marginally and liquidity tightening measures work their way through emerging markets economies. Perhaps most importantly, we believe that valuations are reasonable in emerging markets, given this backdrop." Download Full Commmentary Here Get Free Research Reports about Lazard Asset Management [+] Read More

Money manager Alliance Bernstein discusses slower than expected growth during the first half of the year and makes a prediction for the coming second half. "US economic growth fell short of our forecast in the first half, owing to unexpected weakness in construction and defense, a spike in energy prices and supply disruptions. We expect faster growth in the second half, driven by gains in auto output and strong liquidity flows - if job markets gain traction." Download Full Commmentary Here Get Free Research Reports about AllianceBernstein LP [+] Read More

Money manager Avatar Associates takes a look at prospects for the second half of 2011 and the track record of analysts and their predictions. "While second quarter profits may be encouraging against a shaky background, if managers suggest that their expectations for the immediate future have moderated, then the hoped-for second half revival will face a serious challenge. Incidentally, analysts are strongly guided by these management assessments. And if analysts have never correctly forecast trouble ahead, perhaps it is because neither has management. It is usually a case of going over the waterfall together. So if management actually does see a slowdown ahead, we should all take note." Download Full Commmentary Here Get Free Research Reports about Avatar Associates [+] Read More

Lord Abbett's Senior Economist Milton Ezrati writes an excellent and in depth piece focusing on Japan, its current situation and prospects for the future. "Japan still plays a critical role in the global supply chain and the global economy generally. Still, it cannot generate electricity or staff factories. And Japan now needs to do both. The questions, then, to consider are: 'How soon, if ever, will Japan recover its former productive role? And how will the shock of the recent disaster change the Japanese economy's long-term direction?'" Download Full Commmentary Here Get Free Research Reports about Lord Abbett Company Llc [+] Read More

Money manager Churchill Management Group reviews the current market correction and their top-down indicators, which remain mostly bullish. The history of the unwinding of a secular bear market is also explored, comparing economic similarities between the 1930s and today. "If history repeats itself as we expect, it should come with the "buying opportunity of a lifetime" that we have referred to in the past." Download the Full Churchill Commentary Here Get Free Research Reports about Churchill Management Group [+] Read More

In their second quarter investment commentary, money manager Janus dives into U.S. equities, central bankers, fixed income and global events. "Despite some challenging macro events, the global recovery remains on track. We are seeing healthy vital signs in many of the companies that we follow. U.S. equities continue to offer extremely compelling valuations, in our view. Although the overall bond market has become more susceptible to interest rate volatility, we continue to see attractive risk-reward opportunities in corporate credit." Download Full Commmentary Here Get Free Research Reports about Janus Capital Management LLC [+] Read More

In his latest must read commentary, Chief Investment Officer David Iben at money manager Tradewinds discusses the concept of money and its use throughout history. "When discounting future cash flows, the "value" of that cash at the time it is received in the future should be in the forefront of peoples' minds. Fiat currencies and bonds are somebody's liability. Governments' ability to make good on these obligations is imperative. In light of the current, precarious situation of most issuers of paper currency and sovereign bonds, Tradewinds prefers to own good business franchises and tangible wealth." Download Full Commmentary Here Get Free Research Reports about Tradewinds NWQ Global Investors, LLC [+] Read More

Money manager ClearBridge reviews their Multi-Cap Growth portfolios, highlighting the reasons for specific performers and under-performers. A summary of economic events and their outlook moving forward is also discussed. "While concerns remain about deficits, inflation and, of course, the negative consequences of unforeseen major macroeconomic and geopolitical events and their impact on the market, our experience has taught us that often the macroeconomic situation dictates investors' reactions and triggers unwarranted selling, which can actually create longer term buying opportunities." Download Full Commmentary Here Get Free Research Reports about Legg Mason ClearBridge Advisors [+] Read More

Avatar Associates suggests we are starting to see another typical development in the phases of economic expansion: firming sales volume. "More than half of the companies reporting so far have recorded sales revenues in excess of what analysts had forecast. In the prior quarter that same number was about a third of companies and before that less than a quarter. These results come at a time when job growth seems to be rising into a high enough level to suggest that the overall business cycle is now in a self-sustaining expansion." Download Full Commmentary Here Get Free Research Reports about Avatar Associates [+] Read More

On May 12th, 2011 Janus announced that David Decker, portfolio manager for the Janus Opportunistic Alpha and other strategies, will be leaving Janus after 19 years with the firm to establish his own independent asset management business. Replacing him is Dan Kozlowski, who will act as the new portfolio manager for the Janus Contrarian Fund, Janus Opportunistic Alpha and Opportunistic Core managed accounts effective June 30, 2011. Kozlowski was previously with Janus from 1999 to 2008 as an equity research analyst and co-portfolio manager of Janus Long/Short Fund along with David Decker. Click below to read more about Dan Kozlowski and other management changes at Janus. Download Full Commmentary Here Get Free Research Reports about Janus Capital Management LLC [+] Read More

Don’t Make This Mistake! Don’t make the same mistake so many investors do by focusing too much on recent past performance. This short-term thinking can derail long-term financial plans and we believe it’s one of the worst mistakes an investor can make. This timely report focuses on: • How to avoid the dangers of chasing past performance • Evaluating money managers against specific market environments • It’s crucial to invest in managers that do well during expected future market environments We’ll illustrate these topics using Churchill Management Group’s Premier Wealth Strategy as an example. Click Here to Request the Report WrapManager has no affiliation with Churchill Management Group [+] Read More

Money Manager Lord Abbett slices and dices the inflation story in their May commentary. Concern about inflation these days seems to travel along two separate avenues. On the more technical side are the worries over recent food and fuel price spikes and the objections to Washington's practice of excluding such price moves from its analysis and policy decisions. The second, very different concern takes a much longer-term view and worries that federal budget deficits and the liquidity poured on markets during the past two years or so by the Federal Reserve will cause considerable inflationary pressure in 2012 and beyond. Download Full Commmentary Here Get Free Research Reports about Lord Abbett Company Llc [+] Read More

Money manager Lazard Asset Management comments on the emerging market developments over the last quarter and believes there are opportunities for investors with long-term investment horizons. They "remain confident in the emerging markets' robust fundamentals, and we believe that the longer-term outlook for the asset class is bright." Download Full Commmentary Here Get Free Research Reports about Lazard Asset Management [+] Read More

"Fat, drunk and stupid is no way to go through life, son." - Dean Wormer, Animal House. 1978. Money manager Calamos Investments starts their current quarterly commentary comparing the current government actions to a famous quote from the movie Animal House. After looking at the major factors influencing the markets today, Calamos highlights opportunities they see in the midst of volatility and global rebalancing. A must read for those looking for a comprehensive breakdown of the current investing world. Download Full Commmentary Here Get Free Research Reports about Calamos Investments [+] Read More

Avatar Associates highlights that the growth in earnings we are seeing is largely coming from manufacturing and industrial processes, unlike the last two economic recoveries. However profits may slow a bit in the next few quarters as the financial sector continues to struggle to find replacements for proprietary trading and other derivatives which had inflated their profits. Download Full Commmentary Here Get Free Research Reports about Avatar Associates [+] Read More

Money manager Macquarie Allegiance compares the actions of the US, EU and Chinese central banks over the last decade and how certain trends may be fading. "A lot of attention is on the Federal Reserve policy outlook, unsurprisingly because the economy is proving strong and the second round of quantitative easing is scheduled to end in June 2011. However, an international perspective would suggest that the Fed is no longer leading global policy; in fact the Fed is likely to be the next to last major developed country central bank to tighten monetary policy." Download Full Commmentary Here [+] Read More

Stephen Auth, Chief Investment Officer for equities at money manager Federated Investors reviews three main global focal points: Japan's recovery and outlook from the nuclear threat, the continued violence in the Middle East, and the increasing US economic recovery. Given their views on these events, Federated reiterates its year-end target of 1450 on the S&P500. Download Full Commmentary Here Get Free Research Reports about Federated Investors Inc [+] Read More

"Rising oil prices and the disaster in Japan have added new risks to the global economy in 2011. We have not yet changed our forecast for US growth of 3.8% this year. But we're watching closely for signs of higher energy prices eroding consumer spending, and monitoring the potential disruption on US manufacturing if supply chains from Japan face prolonged downtime." Joseph G. Carson, US Economist and Director - Global Economic Research at Alliance Bernstein revisits Alliance Bernstein's 2011 forecast in consideration of recent events. Download Full Commmentary Here Get Free Research Reports about AllianceBernstein LP [+] Read More

The latest commentary from money manager Janus takes a look at different possible outcomes in Egypt and what the effects could be on the region and emerging markets in general. "While the resignation of Hosni Mubarak releases some pressure in Egypt, some of the longer term regional and global investment concerns remain. Our most likely scenario was that Egypt would see an army-backed transition to a democracy, and Mubarak’s resignation brings the country in that direction. The unrest highlighted some surprising investment positives in the region but also increased our concerns about some threats to emerging markets." Download Full Commmentary Here Get Free Research Reports about Janus Capital Management LLC [+] Read More

Money manager Macquarie Allegiance's February newsletter details why they think Treasury yields will continue to increase, especially in the 10 year Treasury. "Our analysis shows that the improving trend of the economy has been pressuring Treasury yields higher. The current macro momentum suggests we are heading for the third test of 4.0% on the 10Y yield in this cycle. However, inflation pressures in the US remain low despite the added pressure coming from surging commodity prices. We conclude that the persistence of a large negative output gap is helping to contain inflation pressures." Download Full Commmentary Here [+] Read More

Money manager Macquarie Allegiance's January commentary reviews 2010 and provides their outlook for 2011. Graham McDevitt, the Co-Chief Investment Officer, believes the 'ride' this year will be significantly different compared to the rollercoaster of 2010. Read about their themes and risks facing investors in 2011 in this month's commentary. Download Full Commmentary Here [+] Read More

Money manager Neuberger Berman favors an overweight of equities over bonds, with a balance of dividend-producing and cyclical stocks, as well as some exposure to higher risk/return profile investments including high yield and emerging market stocks. In a generally muted economic environment that carries a variety of risks, they believe that security selection will be highly important to investment performance across asset classes in the year ahead. Download Full Commmentary Here Get Free Research Reports about Neuberger Berman Llc [+] Read More

Money manager Roosevelt Investment's latest report highlights the emerging market's middle class. The worldwide economic picture may be full of uncertainties but one thing seems likely: the demand for goods and services in the developing world will grow at an unprecedented rate as the emerging middle class rapidly expands over the next couple of decades. Download Full Commmentary Here Get Free Research Reports about Roosevelt Investment Group [+] Read More