Investment Insights and Thought Leadership

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

The year started with alternating periods of rally and reversal as the markets struggled for direction.  Strong returns in the prior quarter left valuations at less attractive levels and mixed economic data left plenty of ammo for… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist, Bivium Capital

Unlike 2013 which was mostly a straight path upwards, 2014 was characterized by alternating periods of rally and reversal, so much so that the Russell 3000 Index was essentially flat through mid-October.  Strong US economic… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

Following the choppiness seen in January, February turned out to be an exceptionally strong month for most equity markets.  Although US GDP growth for Q4 2014 fell short of expectations, growth for the overall year was still… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

January saw alternating periods of rally and reversal as the markets struggled for direction.  Strong returns in the prior quarter left valuations at less attractive levels and mixed economic data left plenty of ammo for both bulls… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

Starting the quarter, October looked like a perfectly reasonable recovery from the declines of the prior month.  However, end-point results masked significant intra-month volatility as the markets swung from bearishness to bullishness in the blink of an… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

November saw a consolidation of the market rally which began in mid-October.  Market volatility continued to decline, and most days saw steady if unspectacular gains.  The price of oil accelerated its collapse towards $60/barrel, a level last… Read Full Post

James Ware, CFA, Founder at Focus Consulting Group, and Author of “High Performing Investment Teams” (Wiley 2006)

Speaker Presentation from Bivium Capital Investor Summit, October 16, 2014

In his PowerPoint presentation, Mr. Ware – highly acclaimed industry author and international… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

On the whole, October looked like a perfectly reasonable recovery from the declines of the prior month.  However, end-point results masked significant intra-month volatility as the markets swung from bearishness to bullishness in the blink of an… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist, Bivium Capital

Fundamentally, risk can be seen as the probability of not meeting one’s expectations. In this context, risk may lead to positive or negative outcomes, but most focus is given to downside risks (a negative result… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

The month of July was thirty days of relative calm in the markets punctuated by a sharp selloff on the last day.  Economic data was generally positive, but deflation once again became a concern in Europe along… Read Full Post