The Fearless Public Equity Market US equity markets have continued to defy the critics, steadily climbing higher on lower and lower volatility. Every bit of bad news is routinely ignored, while good news is cheered on. Interestingly, while the bulk [...]

LGA is constantly evaluating the universe of investment options in both the public and private markets. We continue to see a major disparity in valuations between these two choices. We discuss this disparity below, along with our practical recommendations for [...]

 “The thought experiment of Adam Smith correctly takes into account the fact that people rationally pursue their economic interests. Of course they do. But this thought experiment fails to take into account the extent to which people are also guided [...]

We first began warning clients of market overvaluations nearly three years ago (May 2014). At that point, we began moving tactical clients into more defensive positioning, while reducing expectations among fully invested clients. Since that time, most asset classes have indeed [...]

Election Musings Regardless of whether one was a Trump, Hillary, or third party supporter, nearly everyone was surprised by Trump's recent electoral college win. Much has been discussed, both logically and emotionally, since that fateful evening...and many have searched for [...]