A New Paradigm for Stocks: Digital vs. Decline, Not Growth vs. Value
Daily Prices as of 4/17/19
|Emerging Opportunity Fund||$11.87|
|Strategic Income Fund||$11.14|
|Total Return Fund||$10.15|
|Strategic Investment Fund||$14.41|
Outlooks & Commentary
Treasuries gained sharply in the first quarter, and the middle of the curve is now solidly inverted. Nonetheless, we do not feel this is a harbinger of recession, and we expect the support from global central banks and a reemergence of growth will be supportive for credit in the short-intermediate term.
The first quarter saw a healthy snap-back rally, aided by a dovish pivot from the Fed, but slower growth looks likely going forward. Despite some green shoots, we are monitoring a few economic headwinds that may impact the pace of expansion.
In early November 2018 we published a blog post claiming that the time was right to invest in growth. In this piece, we revisit our analysis and draw the same conclusion.Learn More
Conventional wisdom dictates that recessions occur every time the yield curve inverts, but in our view that is an oversimplification.Learn More
Although many of the risks that led to the brutal fourth quarter selloff have not yet been resolved, we remain cautiously optimistic about 2019 as several key economic indicators are still positive and market dislocations like the recent correction often create very attractive buying opportunities.
News & Updates
If you were unable to join our webinar about Managing for Absolute Returns in an Uncertain Environment, hosted in partnership with AdvisorPerspectives, you can watch the replay here.
If you were unable to join our quarterly teleconference, listen to the replay to hear updates on the Osterweis Strategic Income Fund.
Join John Osterweis at 10 a.m. Pacific, when he will provide updates on the Osterweis Fund and Osterweis Strategic Investment Fund.
Barron’s interviewed Jim Callinan to get his thoughts on the small-cap growth segment and some of his favorite stocks.
Read about several of the stocks that Jim Callinan, Portfolio Manager for the Osterweis Emerging Opportunity Fund, is invested in, and why he chose them.
Eddy Vataru, lead Portfolio Manager for the Total Return Fund, was recently interviewed by Advisor Perspectives.
Carl Kaufman Discusses How the Osterweis Strategic Income Fund has continued to thrive in today’s challenging fixed income market.
An Introduction to OCM
In 1983, John Osterweis founded Osterweis Capital Management to manage assets for individuals, families, endowments and institutions. Now entering our fourth decade, we are an integrated firm with over fifty employees, managing $6.7 billion in assets.
Our clients, many of them with us for decades, know we’ve gotten here through an unwavering commitment to one purpose : To protect and grow our clients’ capital for the enduring security of multiple generations.
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Osterweis Capital Management is the adviser to the Osterweis Funds, which are distributed by Quasar Distributors, LLC.