Strategically Managing Portfolio Risks
“You can only control your decisions, you cannot control the result.” While difficult to attribute to any one person, this sentiment is useful advice for institutional investors as they navigate
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Accessing Private Markets with Interval Funds
Interest in accessing private market assets continues to grow among institutional and high net worth investors. Often referred to as alternatives, private market assets are simply the ability to invest
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Sustainable Spending Policy: What Nonprofits Should Know
Among the many decisions facing an investment committee, few are as critical as setting an appropriate spending policy. Comprising a set of rules to govern how a nonprofit will distribute
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Strategies for Institutions to Manage Excess Cash
“Is our money safe at the bank?” Until recently, that question probably has not kept you up at night. However, unprecedented times tend to shuffle priorities, and, with the recent
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Nurturing Donor Base Critical for Institutions of Higher Ed
Overall, people are giving more to nonprofits. Over the last 40 years, the average yearly increase in charitable giving in the U.S. has been $10.7 billion and reached an all-time
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Inflation Impacts Foundations in Unique Ways
March 2022 Inflation is at the top of most minds—and with good reason. The most recent information released by the US Bureau of Labor Statistics cites that the Consumer Price
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Market Trends: Why the Next 10 Years Won’t Be Like the Last 10 and What Investors Should Do Today
Goelzer Investment Management’s Institutional Advisory Team provides a unique look into capital market conditions with an eye towards the re-opening of the economy, intermediate implications of a shift in fiscal
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More or Less the Same
“After changes upon changes we are more or less the same.” PAUL SIMON, “THE BOXER” January 2021 For all the economic turmoil and suffering the pandemic caused in 2020,
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How the CARES Act May Affect Your 2020 Taxes
October 2020 The CARES Act was passed in the spring in an effort to help Americans through the pandemic and ensuing economic turmoil. It also may provide a few additional
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Indiana Sheriffs: Protecting Your Pension in Changing Times
August 2020 In Indiana, our county sheriffs protect our communities and enforce our laws, and we are deeply grateful for the safety and security that sheriffs and their deputies provide.
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The Importance of Alternatives in Time of Crisis
June 2020 As equities experienced two bear markets and interest rates declined in the 2000s, interest in alternatives became more pronounced. This was coupled with innovation in financial instruments, including
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The Importance of a Strong IPS
June 2020 The importance of a strong Investment Policy Statement in times of crisis: What can (and should) you be doing? What happens when you make short-term decisions with long-term capital? Think long-term
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New Laws and Tax Strategies for 2020
June 2020 Over the past six months, Congress has passed two new laws that affect retirement, charitable giving, and estate planning. The new laws known as the SECURE (Setting Every
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Maintain a Disciplined Approach
April 2020 Mitigation efforts to slow the spread of COVID-19 are affecting the daily lives of people around the world. Some 2.6 billion people are now living under government
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A Message about the Market’s Reaction to Coronavirus
March 2020 Given recent events, extreme volatility, and understandable concern, we want you to know we are very much present and assessing new information as it becomes available. We
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Markets Soar in an Imperfect Economy
January 2020 The stock market reminded us again this past year that a perfect economy is not required to push stock prices higher. Rather, prices climb on signs of
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Spending Guidelines for Institutional Investors
Most institutions rely on their investment portfolios to fund their budgets. From tuition assistance to basic operational assistance, these institutions have drawn on their investment funds to fulfill their missions.
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What the markets are telling us
August 2019 What is one to make of the markets over the past six months? First the stock market fell 20% and bond yields declined, both correctly predicting a
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Why Own Bonds?
August 2018 The first three quarters of 2019 have produced unexpectedly strong results for bond investors. Slowing global economic growth, declining inflation expectations, and accommodative central bank policies have
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Why Your Bonds Should Be Actively Managed
August 2018 Investors have shown increasing acceptance of passive investment strategies. Meanwhile, funds that employ active strategies—that is, those with managers who strive to outperform their benchmarks—have lost market share
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The Spending Question
April 2018 How much can I spend each year without depleting my portfolio? It’s a question we hear often from clients. While the question is simple, calculating the answer
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Our Long-Term Outlook
January 2018 It’s not just people who like to take time off now and then. Apparently, volatility also enjoys some time off—at least that’s what this past year’s stock
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The Economics of Natural Disasters
October 2017 Before starting this quarter’s discussion, I first want to extend from all of us at Goelzer our heartfelt sympathies to those who have suffered due to the
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Managing Bonds When Interest Rates are Rising
April 2017 “Higher interest rates may be coming.” That was the forecast we shared on these pages one year ago. Our forecast was based on expectations for higher inflation
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Recent Stock Market Rally — Too Far, Too Fast?
January 2017 The U.S. stock market was both a volatile and rewarding place to invest in 2016. Thanks to a sharp year-end rally set off by the U.S. elections,
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Low Interest Rates Require More Savings
October 2016 Central bankers across the developed world continue to rely on low or even negative interest rates to spur economic growth. The resulting low returns on bank accounts and
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Focusing on Your Earnings
July 2016 The chart below shows both the monthly prices and forward 12-months earnings for the S&P 500 Index since January 2000. What the chart makes clear is the
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Higher Interest Rates May Be Coming
April 2016 Markets have a way of wearing people down. By moving in one direction or staying within a range over an extended period, markets convince people that the
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Too Much, Too Many
January 2016 Since the start of the industrial revolution, people have worked to become proficient at mining, manufacturing, financing, and selling all types of goods. It became evident this
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The Role of Stocks in Meeting Your Income Needs
November 2015 Many investors are concerned with how to secure a reliable and growing stream of income. At Goelzer Investment Management, we believe the key to meeting your income
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Managing through Volatile Markets
October 2015 Volatility is back. The stock market’s mostly smooth climb higher since 2012 was interrupted this past quarter with stock prices, at the worst point, declining by 10% over
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