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Economy

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Recession Probability Up, But Still Low Since 1960

Recession Probability Up, But Still Low Since 1960.PNG

2nd Longest Expansion

2nd Longest Expansion.PNG

Marginal Tax Rate for Income in 2018

Marginal Tax Rate for Income in 2018.PNG

Starting Yields Highly Correlated with Five-Year Total Returns

Starting Yields Highly Correlated with Five-Year Total Returns.PNG

Yield per Unit of Duration 1996-2016

Yield per Unit of Duration 1996-2016.PNG

Asset Location Priority List

Asset Location Priority List.PNG

Global Value Factor Drawdown 1990-2017

Global Value Factor Drawdown 1990-2017.PNG

Global Value Factor Valuation Spread 1990-2018

Global Value Factor Valuation Spread 1990-2018.PNG

New Single-Family Home Sales

New Single-Family Home Sales.PNG

Equity Valuation by Country

Equity Valuation by Country.PNG

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