Knowledge Center

Webinar Replay: 2017 Third Quarter Market Update webinar, presented by Josh Emanuel, Wilshire Funds Management CIO.

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This paper reviews trends within retail investing in an effort to better understand certain dynamics that drive investor decision making. We also examine the institutional approach to investment management, with the goal of identifying investment characteristics retail investors might consider adopting.

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SANTA MONICA, CA, AUGUST 11, 2017—The Wilshire Liquid Alternative Index^SM returned 0.67% in July, underperforming the 0.93% monthly return of the HFRX Global Hedge Fund Index.

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The U.S. stock market, represented by the Wilshire 5000 Total Market IndexSM, was up 4.59% for the third quarter of 2017. The market has been posting strong gains since the third quarter of 2015, up 17.10% annualized for the past two years. Equity investors are in part responding to strong earnings reports, with reported earnings up in the double digits for each quarter of the first half of 2017.  » more

During periods of extreme market volatility, investors often make irrational decisions that can undermine their long-term objective of accumulating wealth and minimizing risk. Since the crash of 2008, financial markets have experienced several periods of market volatility. As a result, investors have become increasingly sensitive to the volatility of the equity market even as we hit record high levels. 

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SANTA MONICA, CA, SEPTEMBER 12, 2017—The Wilshire Liquid Alternative Index^SM returned 0.38% in August, outperforming the 0.29% monthly return of the HFRX Global Hedge Fund Index. 

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U.S. Economy and Markets: Domestic equity markets were positive in August, as the Wilshire 5000 Total Market Index returned 0.24% and the S&P 500 Index returned 0.31%.

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SANTA MONICA, CA, AUGUST 11, 2017—The Wilshire Liquid Alternative Index^SM returned 0.67% in July, underperforming the 0.93% monthly return of the HFRX Global Hedge Fund Index.

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U.S. Economy and Markets: Domestic equity markets were positive in July, as the Wilshire 5000 Total Market Index^SM returned 1.88% and the S&P 500 Index returned 2.06%.

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Positioning for Relative Opportunities: Global equity markets continued to climb higher in the first half of 2017 as earnings recovered, and momentum and positive sentiment helped markets shrug off concerns regarding the new U.S. administration’s ability to execute on its policy agenda of lighter regulation and looser fiscal policy. We expressed our concern in our last letter that there remains significant uncertainty regarding actual policy implementation, noting that our analysis continues to focus on the fundamentals of the macroeconomic landscape, while considering how such fundamentals may change in response to policy actions. ...

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