These are the points of our core set of investing values. They’ve proven over the long term to be useful guidelines to increase the chance of achieving success for us, but they don’t have to match your set of beliefs. The key is to develop your own, and then stick to them. Having a set of guiding beliefs will help you avoid the risk of investing based upon emotion, which is rarely going to lead to success.

Over the last 12-18 months, the value style of investing has underperformed the growth style, but on a longer term basis, there are numerous studies that have shown value performs best, and with less risk. Why do you think that is the case?

In today's podcast we examine the drivers of market direction in both the short and longer term time frames. Factors like earnings and economic growth, interest rate direction and valuation influence the patterns we see in the equity market over multiple cycles. However when you are looking at very short term timeframes, these factors often are relegated to the back seat in favor of emotion and momentum. We will discuss several indicators of short term sentiment released last week that seem to point to the potential for a near term move higher. For those with a longer term preference, we'll discuss the fundamentals of a sector where we currently find some value.