Hilton’s Tactical Income Strategy demonstrated resilience and efficacy throughout 2024, navigating a complex market landscape characterized by rapidly changing narratives. The year was defined by a compelling dichotomy: the continued dominance of the “Magnificent 7” tech giants versus an emerging tr...

2024 provided investors with no shortage of ups and downs, beginning with a strong rally but ending with a whimper. Despite the subdued finish, it was a profitable year overall, with most equity market indices delivering healthy gains. The small- and mid-cap (smid) space posted solid returns, though...

In our prior quarterly letter, we expressed concerns regarding the alarmingly narrow market breadth, heavily influenced by a select group of mega-cap technology companies. However, the third quarter has ushered in a notable shift, highlighted by increased market participation across various sectors....

The third quarter of 2024 marked a significant shift from the previous quarter, characterized most notably by a broadening market participation across sectors. Within a span of just three months, the market's narrative shifted dramatically. The focus pivoted from a prevailing trend of disinflation, ...

“It Don’t Come Easy,” released by ex-Beatle Ringo Starr in 1970, was a hit and still gets airtime today. Does the song owe its permanence to Ringo’s musical prowess or the inertia of Beatles magic? We’ll be generous and say it’s a little of both. Regardless, the title aptly describes the stock marke...

As an investment team, we constantly seek to garner a holistic view of the investment landscape. We meticulously analyze various types of data, including macroeconomic indicators, fixed income, equity, and other markets. For the management of SMCO, an equity-only product, we take particular note of ...