Active investment management’s weekly magazine for fee-based advisors

Will Hepburn

Seasonality strategies: Sell in May and go away?

The old Wall Street adage “Sell in May and go away” has some strong support in the data, but probably not in the way most investors think. An excerpt from the book “Why Bad Things Happen to Good Investments,” by William T. Hepburn, explains why and...

The backward nature of sentiment indicators

Investor sentiment is a useful gauge of potential market direction, but not the way many investors believe. As a child, I vividly remember the cliff divers in Acapulco who had to time their dives from high on a cliff into a narrow inlet with each wave....

Best & worst market days

An ongoing study by Hepburn Capital Management, LLC, (HCM) confirms that missing the best days of the market really doesn’t matter if investors also miss the worst days. The S&P 500 stock index averaged 7.63% annual return (dividends...