Discussion In the past week, we have seen unprecedented, disruptive events occurring at speeds that stretch anyone’s comprehension. As these developments unfold, the markets are extrapolating this new information each day into longer-term outcomes, each more dire than the last. When fear is driving this reaction,...

We don’t often field a lot of questions about bond safety, nor would we expect to under normal circumstances. Not surprising nor alarming, signs of stress have crept into the bond market over the past couple of weeks causing bond prices to pull back.  While...

The Meritage Growth Equity strategy emphasizes high quality stocks with above average Cash Flow Return on Invested Capital (CFROI). Relative to growth benchmarks, our process has led us to overweight the Information Technology and Healthcare sectors, and underweight Consumer Discretionary. The portfolio also has zero...

It has been a while since market conditions have compelled us to send a short note like this between quarters. Our intent here, as we have done in the past, is to provide perspective on volatility and offer a few thoughts regarding expectations and how...

2019 was a banner year for both stocks and bonds. In stark contrast to how the end of last year wrapped up, seemingly everything fell into place for stocks in the final quarter this year.  This lifted broad market returns to their best showing since...

Meritage Portfolio Management is pleased to share that the firm has been named to the 2019 Top 100 Financial Advisory Firms in the nation - CNBC FA 100.   The list was selected from more than 1,000 qualifying financial advisory firms using a proprietary methodology developed...

Stocks advanced slightly in the third quarter, adding to their strong gains in the first half and closing just under the market highs of late July. Volatility remained high as headlines around China trade negotiations and prospective Fed policy moved stocks in both directions. Economic...

U.S. stocks added to the strong gains of the first quarter, giving the broad market its best six month start in over twenty years. A slightly longer perspective shows more moderate returns, with stocks just ahead of where they were in late January, 2018. Most...

Executive Summary Over the years, we have addressed the periodic performance swings between value equity strategies and growth equity strategies.   Differences have historically been cyclical in nature and often associated with the stage of the business cycle.  More recently, the pronounced outperformance of growth stocks over...

Deeply oversold conditions at year-end set the stage for a vigorous recovery for stocks in the first quarter of 2019. Similar to other corrections during the course of this bull market, the retracement in stock prices has occurred quickly. At the risk of oversimplifying, the turnaround...