Listen to Larry Cordisco’s recent interview on the Investor’s Business Daily podcast “Investing with IBD,” where he provides analysis of past periods of divergence in market history to put the trading action of 2021 into perspective.
Click on the above image to watch the video.
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The S&P 500 Index is an unmanaged index that is widely regarded as the standard for measuring large-cap U.S. stock market performance. The index does not incur expenses, is not available for investment, and includes the reinvestment of dividends.
The Russell 2000 Index is an index measuring the performance of the 2,000 smallest companies in the Russell 3000 Index.
The Nasdaq is a market capitalization weighted index of more than 3,000 common equities listed on the Nasdaq stock exchange. The types of securities in the index include American depositary receipts, common stocks, real estate investment trusts (REITs) and tracking stocks. The index includes all Nasdaq listed stocks that are not derivatives, preferred shares, funds, exchange-traded funds (ETFs) or debentures.
Fed refers to Federal Reserve.
GARPY refers to Golden Agri Resources ADR.
Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care.
Free cash flow represents the cash that a company is able to generate after laying out the money required to maintain and expand the company’s asset base. Free cash flow is important because it allows a company to pursue opportunities that enhance shareholder value.
Yield is the income return on an investment, such as the interest or dividends received from holding a particular security.
A basis point is a unit that is equal to 1/100th of 1%.
Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Earnings growth is not a measure of future performance.
The Osterweis Fund may invest in medium and smaller sized companies, which involve additional risks such as limited liquidity and greater volatility. The Fund may invest in foreign and emerging market securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks may increase for emerging markets. The Fund may invest in Master Limited Partnerships, which involve risk related to energy prices, demand and changes in tax code. The Fund may invest in debt securities that are un-rated or rated below investment grade. Lower-rated securities may present an increased possibility of default, price volatility or illiquidity compared to higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
Osterweis Capital Management is the adviser to the Osterweis Funds, which are distributed by Quasar Distributors, LLC. [OSTE-20210617-0247]