When active mutual-fund managers become closet index trackers - essentially positioning their portfolios to match the returns of an index rather than trying to beat it - an overwhelming majority of them are almost guaranteed to underperform.
Many factors suggest that the U.S. stock market currently is vulnerable to a decline, maybe a big one. The fundamentals are bleak, for starters. The U.S. economy grew at a dismal 1.2% annual pace in the second quarter, a Commerce Department report released at the end of July showed, and corporate earnings are flat at best.
Stocks have shown no clear trend in more than a year; valuations are high and corporate earnings have been weak. The market at last reached new highs this month. It may well continue to rally, but it will have to do so against a backdrop of weak corporate earnings, a less accommodating Federal Reserve and lingering uncertainty surrounding Britain's vote in late June to leave the European Union.
The conundrum that investors face heading into the second half is that alternative destinations for their money aren't cheap, either. Yields on the benchmark 10-year Treasury note, for instance, declined in the second quarter to 1.4 percent from 1.78 percent. That helped the average long-term government bond fund gain 6.5 percent, and bond funds in general rose 2.6 percent.
High-yield bonds have spent much of 2016 bouncing back from the steep fall they suffered last year. The moves in both directions coincided with similar trajectories in the prices of oil and energy stocks. Energy companies are among the largest issuers of high-yield debt, which is speculative and less creditworthy.
The old market adage to "Sell in May and go away" has merit. The U.S. stock market does tend to do far better between November and April than from May through October - a period when many of the biggest dives and swoons have occurred.
"Nothing touches the plant," he said. "With the right lighting spectrum, we can optimize for taste, nutrition, texture and color." AeroFarms uses repurposed warehouse space for its farms. Plantagon International, a Swedish company designing prototype farms with real estate developers, government authorities and universities around the world, hopes to incorporate its farms into multipurpose buildings.
You can use exchange-traded funds to express a view on the stock market. You can also use ETFs to suggest a market view in the first place. One of the biggest points in favor of buying stocks in the last few years has been the prevalence of buybacks.
While many of the materials that artists work in today are new, the search for new media in its modern form goes back to Marcel Duchamp and the Dada notion that "anything can be art," said Steven Henry, director of the Paula Cooper Gallery in New York.
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. "David Pogue")
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both Elon Musk and Mark Zuckerberg by
searching Obama AND Romney or Obama + Romney.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used.) For example, search for democrat OR republican to find results that refer to
Democrats and/or Republicans.
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.
An asterisk can be used to search for any variation of a root word truncated by the asterisk. For example, searching for admin* will return results for administrator, administration, administer, administered, etc.
A near operator is an AND operator where you can control the distance between the words. You can vary the distance the near operation uses by adding a forward slash and number (between 0-99) such as strawberries NEAR/10 "whipped cream", which means the strawberries must exist within 10 words of "whipped cream".