Valuation & cycles
Rate regimes reshape leadership
Falling rates have historically flattered long-duration and growth assets; rising rates have pressured them.
What it means for your portfolio
Know which parts of your portfolio are really a bet on cheap money.
Does this apply to your holdings?
Get a free PortLens risk snapshot — your concentration, drawdown sensitivity and more, in plain English. No signup.
Run my free snapshotMore on Valuation & cycles
Starting valuation matters
Higher starting valuations have historically been associated with lower long-run returns.
The market is not the economy
Stock markets and GDP frequently diverge over multi-year stretches.
Sector leadership rotates
The leading sector of one decade is rarely the leader of the next.
General information only, not financial advice. Historical figures are approximate and provided for education.