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Monthly Large Cap Commentaries

Large Cap Commentary – September 2017

Large cap stocks posted good performance in the third quarter, continuing the pleasant trend established in the first half of the year of the market slowly grinding up. Along the way, we heard more and more concerns about the inevitable correction, or the “Due Theory.” This theory is often used in sports to note that […]

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Large Cap Commentary – August 2017

A native Missourian, Harry S. Truman once famously said, “Give me a one-handed economist. All my economists say, on the one hand… however, on the other hand…” What Harry obviously wanted was someone to give him the answer, which, of course, is hard to do. We, at Argent, also wish there were easy answers when […]

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Large Cap Commentary -July 2017

In our line of work, change is inevitable and the fortunes of industries and sectors can change, sometimes dramatically. A portion of our job is to recognize change and adjust our portfolio accordingly.  A few months ago, I wrote about our specialty pharmaceuticals holdings.  If you recall, we increased our exposure as a positive “change”, […]

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Large Cap Commentary -2Q17

I grew up in Milwaukee. During my time there, a newscaster named Melodie Wilson was fired from a television station because she “skewed old.” When asked how she felt about her sudden dismissal, she famously answered that she was “skewed.” I bring up this story because coming into the month of June, markets were skewing […]

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Large Cap Commentary -May 2017

Recently I was in a client review and the client asked about turnover for our large cap strategy. For the record, we average about 35% turnover per year, meaning we hold a stock, on average, for three years.  Compared to peers our holding period is quite long.  The client also asked why we would ever […]

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