Relative Value Partners merged with Kovitz Investment Group Partners, LLC as of August 2024. All Insights are opinions of the author as of the posting date. Any graphs, data, or information in this publication are considered reliably sourced, but no representation is made that it is accurate or complete, and should not be relied upon as such. This information is subject to change without notice at any time, based on market and other conditions. Past performance is not indicative of future results, which may vary.
For the nine months ended September 30, 2017, RVP’s Durable Income generated an 8.32% net return vs the Barclays High Yield Index Benchmark return of 7.00%. Since inception (June 1, 2014), Durable Income has generated a 9.07% annualized net return vs the Barclays High Yield Index’s annualized return of 4.90%. Durable Income invests in exchange traded, income oriented securities with the underlying goal …
Read more about Durable Income Strategy Investor Letter – October 2017
As we enter the fourth quarter, the global economy is running neither too hot nor too cold, which has precipitated a glacial rollback of quantitative easting (QE) by global central banks. The Fed has started tightening after being in easing mode for nearly a decade. While global central banks have slowed their purchases, they are still buying $170 billion…
Read more about Welcome Back, Goldilocks – Investor Newsletter – 2017 Q3
Investors are hesitant to put new money into capital markets right now because equity markets are at all-time highs, bond yields are near historically low levels and valuations are rich…
Read more about GDL: Playing It Safe With Upside Potential
It’s time for some cautious optimism. Income investors have had it tough for too long now, settling for 2% yields on high-quality bonds and stocks…
Read article on BarronsAs investors of closed-end funds, we frequently come across funds with altered or unconventional strategies that are disregarded by the market and trading at deep discounts. Despite being overlooked by most investors…
Read more about An Overlooked Fund That Provides Growth, Value And Income
For the six months ended June 30, 2017, RVP Durable Income generated a 6.15% net return vs the Barclays High Yield Index Benchmark return of 4.93%. Since inception (June 1, 2014), Durable Income has generated a 9.12% annualized net return vs the Barclays High Yield Index’s annualized return of 4.64%. Durable Income invests in exchange traded, income oriented securities with the underlying goal …
Read more about Durable Income Strategy Investor Letter – July 2017
The market has scaled dizzying heights over the last 8 years. Rallying in the face of political gridlock, stretched valuations, and a tightening Fed, the market is as undaunted as Spiderman swinging through Manhattan’s skyline. The rally may hang on longer, but…
Read more about Spiderman Rally: Climbing a Wall of Worry – Investor Newsletter – 2017 Q2
We are now in the ninth year of a historically-low yield environment. Despite the Fed’s chatter and volatile economic data, the low-yield environment continues without a clear end in sight…
Read more about A Preferred Pick For Value-Hungry Investors
For the quarter ended March 31, 2017, Durable Income generated a 3.91% net return vs the Barclays High Yield Index Benchmark return of 2.70%. Since inception (June 1, 2014), Durable Income has generated a 9.14% annualized net return vs the Barclays High Yield Index’s annualized return of 4.27%. Durable Income invests in exchange traded, income oriented securities with the underlying goal …
Read more about Durable Income Strategy Investor Letter – April 2017
The parents (markets) are enjoying a tranquil period. The volatility index (VIX) is low, and stocks and bonds both posted positive returns for the quarter. The kids (Democrats and Republicans) are fighting again, but the markets seem to vacillate, from believing stimulus and reform are coming…
Read more about A Long Cocktail Hour – Investor Newsletter – 2017 Q1