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"Forbes ETF University"
ETFs are the hottest and largest growing pooled investment vehicle of the last decade. Forbes assembled a panel of experts on the subject, including our Chief Investment Officer, Ron Rowland, to help investors understand these securities. With these experts help, investors learned how to unlock the advantages of ETFs while preparing for how ETFs will change the landscape of investing. Ron was featured in a panel discussion called Forbes Gurus: ETF Outlook Plus best Buys for the Current Market.
From Forbes.com, March 25, 2010
"Do Free ETFs Have a Hidden Price Tag?"
It appears that media outlets are starting to consider the possible far reaching impacts of a struggle between these two. What are the benefits of Schwab and Fidelity’s recent commission-free ETF offerings? Of what do investors need to be wary? What might be on the horizon? In bringing the piece to press, the author relied on the expertise of Brian Campos, a Director at Capital Cities Asset Management.
From DailyFinance.com, Sheryl Nance-Nash, March 17, 2010
"3 Key Questions on Actively Managed ETFs"
A new ETF offering has been making noise recently – the actively managed ETF. Traditional ETFs have been unmanaged and associated with index investing, but as the ETF universe expands, these securities should become more widespread. SmartMoney examines the topic and gets CCAM’s own Patrick Watson’s expertise on the subject.
From SmartMoney.com, Will Swarts, March 11, 2010
"Van Eck: More Growth for Muni Bond ETFs"
Bank Investment Consultant takes a closer look at Van Eck Global and their unique ETF offerings. When you need an expert opinion on ETF's, you call Ron Rowland, who provided insight into how Van Eck is building their ETF line of business and what future may lie ahead for them. "I think they've done a super job of providing access to various segments of the market that other fund sponsors have not," Rowland said. "They're not taking a 'me-too' approach, they're not coming out with just another large-cap growth ETF."
From BankInvestmentConsultant.com, Steve Garmhausen, December 28, 2009
"In an Uncertain Economy, What Could be Safer than a Pile of Money?"
Even though cash investments such as money market funds and Treasury bills are paying very little interest, in a down market, maintaining principal is much better than losing a bundle in equities. "Cash is a valuable asset class," said Ron Rowland. "Only the people who had cash could take advantage of bargains eight months ago."
From Pittsburgh Post-Gazette, Tim Grant, October 7, 2009
"Wading Back In"
The author discusses some of the important differences between Exchange Traded Funds (ETF) and Exchange Traded Notes (ETN). The largest difference is that ETNs are unsecured promissory notes and do not represent ownership like ETFs. Ron Rowland is asked about this limitation and said that while it isn't as risky now that the worst of the credit crises seems to have passed, "I think it would be great if the industry made ETNs secured obligations."
From Financial Advisor Magazine, Marla Brill, September 2009
"How 24 Fund Categories Fared in H1"
The first half of 2009 saw several market events that caused both downside and upside volatility. We had a major ponzi scheme blow up, government bailouts for the financial industry, and a rough housing market. All that was followed by a steady period of growth from March to June. Ron Rowland was quoted, "Year to date, it looks like nothing ever happened."
From Smart Money, Rob Wherry, July 2, 2009
"Emerging Markets, REITs Led in April"
Trang Ho writes a review of some of the more notable ETF performaces for April. "The month was led by sectors that were beaten down the most," noted Rowland. "It's more a bear-market bounce than new bull market leadership."
From Investors Business Daily, Trang Ho, May 4, 2009
"'Great Recession' survival"
Dreams are fantastic to have, but sometimes reality gets in the way. Such is the case for a new father that wants to quit his successful carpentry business, move to a new city, and start chiropractic school. Ron Rowland is asked for advice about these moves and suggested that it may be best to stay in Austin, TX to weather the recession, but if they make the move they need to get their expenses in line with their income.
From Austin American Statesman, Steve Garmhausen, April 26, 2009
"Many ETFs Expected to Close This Year in Tough Climate"
Exchange Traded Funds are becoming a staple in many people's portfolios. It is still a tough business as demonstrated by the number of sponsors calling it quits. "The winners of the shakeout are likely to be the large, well-established brands such as Barclays Global Investors, State Street Global Advisors, and Vanguard," Mr. Rowland said.
From American Banker, Steve Garmhausen, February 10, 2009
"Our First Take on Fund Trends for 2009"
As predictions for 2009 start to arrive, Smart Money expects a rally in the 2nd half of 2009, legendary managers staging a comeback, closures of ETFs, and continuing volatility. Ron Rowland is asked his opinion on ETFs and responds that there are about 185 ETFs that are at risk of closing but that assets in ETFs will still grow for the year.
From Smart Money, Rob Wherry, December 23, 2008
"Wall Street Jumps on Coke and Other Defensive Plays"
With the stock market struggling, investors are looking for securities that can withstand a recession. CCAM chimes in saying "They're asking, 'What might be the safest parts of the market?"
From Reuters, Chuck Mikolajczak, December 3, 2008
"Fragile State"
As the credit crisis takes hold, the financial landscape has been turned on its head with govenment intervention and the arrival of a new set of investment principles. Ron Rowland, in speaking about a cash position, is quoted, "People will think twice about remaining fully invested. All that data about the disadvantage of missing the 10 best market days fails to mention the pain and suffering through the worst 10 days."
From FundStrategy, Vanessa Drucker, November 10, 2008
"Dow Dives Below 10,000 on Credit, Recession Fears"
A market re-cap of the day's trading results, written by Kristina Cooke at Reuters, finds CCAM on the tape, "We're clearly in the panic zone now. We've tipped over from bear market to panic...People are starting to come to grips with third and fourth quarter earnings. If the supertanker of the U.S. economy is at a complete standstill, which it might be, that has not been adequately discounted yet."
From Reuters, Kristina Cooke, October, 6, 2008
"Stocks Roar Back but Still a Dismal Quarter"
Investors placed some confidence in the ability of Congress to finish the $700 billion bailout bill by the end of the week and pushed stocks significantly higher on Tuesday. Monday's selloff was "more investors selling Washington, D.C., than selling Wall Street," said CCAM. "We could be up 1000 points tomorrow or down 1000."
From CNBC.com, Cindy Perman, September 30, 2008
"Bailout Uncertainty Sinks Wall Street"
Stocks fell hard on Monday as higher oil prices and uncertainty surrounding the $700 billion economic bailout combined to keep investors on the edge. "Here it is Monday and people are waking up from a gigantic hangover, trying to figure out what's next," said CCAM. "There's pain ahead for the economy, pain for the consumer, pain at the pump..."
From Reuters, Steven C Johnson, September 22, 2008
"Bank Fears, AIG Fallout Fuel Wall St Sell-Off"
The U.S. stock market was pushed down to a three-year low as it became clear that global markets are still skittish even after the U.S. government bailed out AIG. "Every investor is now questioning each and every investment they have anywhere on the planet," accirding to CCAM. "It's leading them to sell anything that has any type of risk – to sell first."
From Reuters, Kristina Cooke, September 17, 2008
"Recession Fears Ease as Price of Oil Declines"
The law of supply and demand hasn't been ignored when it comes to oil. Crude prices climbed to record levels as consumers couldn't get enough of it. Those sky-high prices have been plunging as the slowing economy and efforts to curtail consumption reduce demand. "This is extremely bullish for the economy because it puts more money back in Americans' pocketbooks," said CCAM. "That psychological component and the notion that things are getting better is gargantuan for consumers and the economy."
From NJ.com, Joseph Perone, September 3, 2008
"Stocks Finish Flat as Gustav Looms"
A combination of a strong US dollar and Hurricane Gustav convinced the markets to finish flat in the trading session. "We're finally getting a little bit of a late August doldrums, said CCAM. I think investor sentiment is at a point where people are just
taking body blow after body blow...After so many rounds of getting beaten up, you get fatigued. People are saying cash is the place to be, not pushing their money around one way or another."
From CNBC.com, Cindy Perman, August 26, 2008
"So Much for the Consumer-led Earnings Rebound"
The American consumer has been trying to tell Wall Street that they won't be leading a third quarter rebound, and Wall Street finally seems to be listening. Third quarter earnings forecasts have been slashed recently. Seeking some insight as to what the third quarter earnings season will look like,
CCAM mentions how "other potential pitfalls in the third quarter include the impact of a global economic slowdown and a rise in the dollar on the earnings of multinational companies...This is the slowest train wreck in our history. Everyone saw this coming but didn't really know the impact."
From Reuters.com, Kristina Cooke, August 22, 2008
"Don’t Let Inflation Deflate Your Investments"
Inflation reduces the current purchasing power of consumers and takes a toll on the future value of their hard-built nest eggs. Many experts were quoted regarding the imminent threat of inflation. This particular article discusses inflation fighting investment ideas, but CCAM has a unique perspective. "Home prices are declining at a substantial rate, and that's a big asset on everyone's balance sheet. Wages are significantly embedded in corporate costs. Wage growth is not inflationary, but minimal at best. We are in a recession and that
will lead to a decline in other high cost items such as gas and groceries."
From Pittsburgh Post-Gazette, Tim Grant, August 10, 2008
"US Stocks-Wall St Rises on Oil Slide, Consumer Confidence"
U.S. stocks climbed over 1% on Tuesday on the coattails of falling oil prices. Capital Cities Asset Management was quoted, "I think with oil at the $120 area, that is giving the market a psychological uplift today."
From Reuters.com, Steven Johnson, July 29, 2008
"ETFs Provide Cover When Markets Get Crazy"
ETFs offer market participants lower fees and lower risk access to alternative investments such as commodities and short trades. CCAM's Vice President of Investment Strategies discusses supply and demand of ETFs, and some recent top ideas. "At some point there's too much supply and supply will meet demand.
Ultimately there probably will be a shake out from an ETF-provider standpoint...We utilize them [ETFs] to a great degree. We like the ease and efficiency, and the baskets and sectors allow us to invest appropriately for our customers."
From CNBC.com, Jeff Cox, July 07, 2008
"Is This the Time to Jump into Stock Bargains?"
CNBC.com raises the question about buying beaten down stocks, especially those under $10 per share. CCAM responds to buy or sell candidates Ford, Sprint Nextel, and Tenet Healthcare.
From CNBC.com, Cindy Perman, June 18, 2008
"Internet ETF Makes Debut in Bad Market"
With the tech-heavy Nasdaq off –8% on the year, PowerShares rolled out a new internet ETF and CCAM was queried about it. "It's another tool in the investor's toolbox, but then how many hammers does he need?"
From SmartMoney, Dan Burrows, June 13, 2008
"US Stocks - Wall St. Tumbles as ISM Data Signals Recession"
On a day when the Dow Industrial Average fell more than 300 points after negative ISM data on the services sector, CCAM's Vice President of Investment Strategies was asked his thoughts and responded,
"ISM is causing everyone to move back into a freak-out stage that we're smack in the middle of a recession. It's an easy, convenient excuse to sell into the two-week rally that we've had."
From Reuters.com, Jenniger Coogan, February 5, 2008
"What Could Cage the Bear"
When talking on the topic of the Fed Model and the earnings yield of the S&P 500, CCAM is quoted, "Even if you slash profit estimates, what the market is yielding in earnings is drastically superior."
From Business Week, The Street Column, January 24, 2008
"Investors Should Stick to Their Plans"
CCAM was asked what investors should do as the market is down dramatically in the past few weeks. "We wouldn't recommend anyone do anything today. Besides, if you've already lost 10%, it's too late to sell. You're better off letting things play out. This is especially true because the next couple of days and weeks the market could retest recent lows. The ride could get even bumpier,
at least for a little while... The volatility's not going to end. The cycles happen over and over, and the panic dump isn't a good way to go. Be calm, cool, and collected. You have a discipline, you have a plan, stick to it... It really looks like a monster correction to me. The panic is actually a good sign, because history tells us it usually means a turnaround is near."
From Investors Business Daily, Joanne VonAlroth, January 22, 2008
"Wealth - All Abroad!"
CCAM's Vice President of Investment Strategies is featured and notes that investors who need exposure to Emerging Markets might consider purchasing EEM, the iShares MSCI Emerging Market ETF. "This is one pure play where you instantaneously get the opportunity to capture emerging market returns in one individual security."
From Palm Springs Life, Ellen Paris, January 2008
"Sound Off"
Ron Rowland is featured with commentary regarding the conditions of Central Texas business and commercial real estate markets, especially in light of the credit and liquidity problems affecting real estate across the U.S.
From Austin Business Journal, Sept 7-13, 2007
"Fed Rate Cut Buoys Abused Sectors"
CCAM was asked about its views on the impact of the Federal Reserve's surprising half point cut in both the Fed Funds and Discount rates. "Figuring the rate cut could keep the economy, and industrial output, humming, investors jumped back into materials and energy stocks...Metals and mining also got a lift from a gold-price jump fanned by the idea that lower rates could weaken the dollar."
From USA Today, Matt Krantz, September 19, 2007
"The All-ETF Portfolio: Pros reveal the Ins and Outs"
A portolio comprised of only ETFs is now a common reality with the S&P SPDR and iShares MSCI EAFE often as core holdings. CCAM's Vice President of Investment Strategies was quoted as "constantly honing his lineup with more aggressive offerings." He has juiced his clients' portfolios with ETFs from regional sectors from all over the globe.
From Wall Street Journal, Rob Wherry, August 6, 2007
CLS Investment Firm Selects Capital Cities Asset Management for Tactical Research Contract
Capital Cities Asset Management (CCAM) announced today that CLS Investment Firm, LLC (CLS) has chosen CCAM to provide strategic research for CLS clients in select management strategies. The arrangement allows CLS to strengthen its portfolio line-up as they add expert analysis and opinion regarding sector, style, and international rotation strategies.
Click Here to See the Full Press Release , February 14, 2007
"Use What You Know When Braving the Health Care Sector"
Although physicians have more knowledge of the health care sector than other sectors, focusing on it for investing carries its own pitfalls. CCAM's vice president of Investment Strategies points out that "health care is what analysts call a defensive sector, meaning it is less cyclical than other things like retail or real estate."
From Physicians Money Digest, Ed Rabinowitz, January, 2007
"The Market Can Be a Wild Ride – Turn the Ups and Downs to Your Advantage"
Investors are once again choosing prudent and sound investment strategies. CCAM reminds investors they need a roadmap, where "Understanding your goals and objectives will then help you develop a plan to meet or exceed those objectives...Then, stick to the plan, stay the course, and follow the prescribed map in order to meet your goals."
From Physicians Money Digest, Ed Rabinowitz, January, 2007
"Bon Voyage?"
With ETFs gaining in popularity, the iShares EAFE Index Fund (EFA) swelled to over $31 billion in assets as investors poured money into international funds. SmartMoney sought comments from CCAM regarding the number of ETFs on the scene.
From SmartMoney.com, Robert Wherry, November 2, 2006
"FPL Aims to Cut Customer Bills by 5%"
Florida Power & Light will tell state regulators today it wants to lower customer bills because of falling natural gas prices. CCAM's Patrick Watson was quoted, "There's been a slowing economy in various parts of the country, and that's entered into less electricity demand in some places. The other thing is rising inventory levels."
From Palm Beach Post, Kristi Swartz, October 24, 2006
"Techweek: Backdating's Back Seat"
The Street.com queries CCAM, asking if it is too late to buy big cap technology stocks. The response: "We think there is a rotation taking place where large-caps are out performing small-caps, and we think the trend can continue...There is plenty of room for these stocks to run higher, especially since the sector has been out of favor for so long."
From TheStreet.com, Bill Snyder, September 30, 2006
"Bloomberg on the Money"
Howard Liberman and Charlie Stein host CCAM on their morning show. They discussed current market events and CCAM views, why cash should still be a large portion of one's portfolio, the awakening of large cap stocks relative to small cap names, and preparing yourself for opportunities that were dead ahead.
Bloomberg Radio, August 9, 2006
"Forbes on Radio"
CCAM joined the Forbes staff in New York to discuss how large cap stocks have begun to outperform small cap names and offered suggestions as to how to play this emerging trend.
August 9, 2006
"Pipeline Shutdown May Inch Up or Zoom Gas Prices."
British Petroleum's Prudhoe Bay pipeline was shut down, causing oil prices to spike over $77/bbl. CCAM's Patrick Watson was quoted, "The main problem is we don't have an answer to how long the shutdown will last. This leads to an information vacuum, and traders can drum up their worst fears.”
From Palm Beach Post, Kristi Swartz, August 8, 2006
"Optional Financing"
Southwest Airlines Spirit Magazine focuses on new investment trends and themes being spawned on Wall Street, and seeks CCAM's thoughts about Exchange-Traded Funds (ETFs). CCAM is quoted regarding low-cost and well diversified ways to play narrow segments of the market: "If you want to buy energy service companies, there are ETFs that allow you to buy just a basket of energy service stocks. There is a lot of activity in semiconductor, internet infrastructure, and telecom funds..."
From Southwest Airlines Spirit, July 2006
"Carrying the Weight - Fund Managers Look to Blue-Chips for Shelter From Global Market Storm"
With the easy money gone from emerging markets, money managers say it's time to think big, especially if you have to be invested. CCAM is quoted taking an even more extreme stance. "We're just concerned that there is some more downside ahead. If you have to be invested, where you want to be invested is in the quality names. Our feeling, however, is that you're still going to lose money."
From CNNMoney.com & Dow Jones Newswires, June 13, 2006
"Too Much of a Good Thing?""
SmartMoney magazine does an in-depth article about Exchange-Traded Funds (ETFs) and CCAM's Vice President of Investment Strategies is quoted regarding sector specific ETFs and the energy market in particular. "The best way to get exposure is the Energy Select Sector SPDR and a more aggressive option is the PowerShares Dynamic Oil & Gas Services Portfolio. This fund owns just the drillers, rig operators, and others who help get the oil out of the ground. These companies will benefit as the big conglomerates spend some of their huge cash reserves."
From SmartMoney, Rob Wherry, May 2006
"Investors are Mad about Jim Cramer"
Love him or hate him, his show on CNBC is hot, and the author seeks opinions as to what other professional investors think about the show. CCAM is quoted as saying "He is anti-establishment and against the status quo of Wall Street."
From Crain's New York Business, Miriam Kreinin Souccar, March 6, 2006
"Marketwatch Weekend Investor / Beyond Japan"
After Japan's big gains in 2005, some money managers are cashing out. CCAM's Vice President of Investment Strategies said: "It's very much a case of taking some chips off the table."
From Wall Street Journal Print Edition, Barbara Kollmeyer, February 18, 2006
"Bulls and Bears of Japan: Strong market run has some money managers backing off"
It may be a case of too much of a good thing where Japanese stocks are concerned, with some money managers now urging investors to cash out of big gains seen in the last several months. CCAM said: "It's more of a shorter-term trading valuation call than a longer-term forecast on Japan."
From CBSMarketwatch.com, Barbara Kollmeyer, February 14, 2006
"Benchmarking Can be an Essential Tool: Many Investors Don't Do it, However"
There are many ways to measure your portfolio's performance, but almost a third of Americans are ignoring common tools for checking performance. "Having a benchmark gives an investor a roadmap for navigating the stock market," says CCAM. "It gives clues to the investor that can be used to their advantage."
From Better Investing, Katie Fitzgerald, December 2005 Issue
"Relief, Recovery & Repercussions"
After Hurricane Katrina, the trucking industy assisted greatly in relief and rescue efforts. It now faces new challenges in fuel costs but also sees opportunities. Patrick Watson is quoted in the article, "We have plenty of oil available because we're tapping the Strategic Petroleum Reserves. But trucks don't burn crude oil. It doesn't matter if you can't turn it into something useful."
From eTrucker.com, CCJ Staff, October 2005
"Investors Wonder Whether it's Time to Go Global"
In an article discussing investing in international markets, CCAM's Vice President of Investment Strategies is quoted, "Another basic tactic for diversifying your portfolio is to have investments in companies in both developed and less-developed countries."
From BetterInvesting.org, Kate Fitzgerald, October 2005
"Gasoline Prices Inch Up Yet Again"
Another article discussing the high price of fuel after the hurricanes passed through the gulf identifies Patrick Watson as saying "The sky's the limit. It's [gasoline prices] not going to get any better. I would urge people to start thinking about what steps they can take to minimize their consumption."
From PalmBeachPost.com, Susan Salisbury, October 1, 2005
"Economically, Florida Should Survive Storm's Fury"
A sunshine state outlook on the aftermath of Katrina and how it might impact the state's economy. Patrick Watson was quoted, "You almost could not have asked for a more perfect scenario to really screw things up."
From Tampa Tribune, Dave Simanoff, September 3, 2005
"Fear of Gas Shortage Sets Off Buying Frenzy"
Patrick Watson was quoted saying "Katrina struck the heart of the nation's refining industry at a time when those facilities were already operating at peak capacity..."
From Gwinnett Daily Post, Douglas Sams, September 1, 2005
"Your Money"
Mutual Funds With Momentum - "Capital Cities Asset Management manages assets this way. The investment strategy is based on Isaac Newton's first law of motion: 'A body in motion tends to remain in motion...' He moves in and out of whole sectors of stocks every few months, riding the waves of upward momentum."
From Consumer's Digest, Stacie Zoe Bert, August 2005 Issue
"A Google Love Fest as Share Price Soars"
Excerpt from the article: "Markets tend to respond immediately to the unexpected. Share prices soar -- or sour -- in an Internet minute...'It's only a surprise that moves stock,' said Capital Cities Asset Management in Austin, which does not own shares of Google. 'It can be a positive or negative event. If something is well-known and digested by investors, it doesn't have a big impact.'"
From San Jose Mercury News, John Boudreau, February 03, 2005
"Making Money by the Ton"
Ron Rowland was quoted in an article about commodity investments and discussed a way to play commodities through open end mutual funds and exchange traded funds rather than buying individual commodities or futures contracts.
From San Antonio Express, Analisa Nazareno, January 15, 2005
SEC Rules to Address Mutual Fund Management
Ron Rowland discusses the implications and fallout from the Eliot Spitzer crusade to clean up the mutual fund industry and shares his ideas about pending SEC legislation.
From Austin Business Journal March 26, 2004
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