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Market Insights, Thought Leadership

A Case for Balance

In recent years, U.S. market performance has been dominated by growth equities, particularly since the AI-driven rally that began in late 2022. Yet history reminds us that leadership between growth and value is cyclical. Extended periods of dominance by one style often give way to long stretches of outperformance by the other. In this brief paper, we explore why this trend makes portfolio rebalancing critical, the risks of overconcentration in growth stocks, and how large cap value strategies may provide diversification, attractive fundamentals, and the potential for consistent returns. This not a case against growth or for value; it is a case for balance.
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Doll’s Deliberations®

Weekly investment commentary

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Bob Doll’s Quarterly Investment Commentary 4Q 2025

In his quarterly update, Bob Doll discusses how, despite lingering economic headwinds, markets remain focused on the positives: solid GDP growth, a resilient labor market, and confidence that the Federal Reserve will maintain its easing stance over the next two years. He also updates his 10 Predictions scorecard – where has he hit, where has he missed?
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Good Economic Outlook Constrained by High Valuations

The unique features of the current business cycle include prolonged accommodative monetary and fiscal policies and the associated excess liquidity, extraordinary corporate profitability, mega cap companies able to dominate global technology, and the AI theme that promises unlimited economic benefits.

Thought Leadership

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Bob Doll’s Quarterly Investment Commentary 4Q 2025

In his quarterly update, Bob Doll discusses how, despite lingering economic headwinds, markets remain focused on the positives: solid GDP growth, a resilient labor market, and confidence that the Federal Reserve will maintain its easing stance over the next two years. He also updates his 10 Predictions scorecard – where has he hit, where has he missed?
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A Case for Balance

In recent years, U.S. market performance has been dominated by growth equities, particularly since the AI-driven rally that began in late 2022. Yet history reminds us that leadership between growth and value is cyclical. Extended periods of dominance by one style often give way to long stretches of outperformance by the other. In this brief paper, we explore why this trend makes portfolio rebalancing critical, the risks of overconcentration in growth stocks, and how large cap value strategies may provide diversification, attractive fundamentals, and the potential for consistent returns. This not a case against growth or for value; it is a case for balance.

Webinars

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Bob Doll’s Live Quarterly Market Update Webinar – Q2 2025

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Bob Doll’s Live Quarterly Market Update Webinar – Q1 2025

In the News

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Victoria Fernandez on Barron’s

Crossmark’s Chief Market Strategist, Victoria Fernandez, CFA, shared her insights with Barron’s on Monday’s market retreat, driven by news of an anti-monopoly probe into Nvidia and its ripple effects across the tech sector. Victoria offers her perspective on what these developments can mean for investors and the broader economy.
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Bob Doll on ThinkAdvisor

“The market is up 27% this year after a 26% gain in 2023—pretty incredible,” says Bob Doll, CFA, Crossmark’s CEO and CIO. But what’s next for investors? Bob joined ThinkAdvisor to discuss why a measured approach may be prudent as we head into 2025, with insights on market valuations, sector performance, and the potential for a Q1 pullback.

Press Releases

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Crossmark Global Investments Launches Two Active Values-Based ETFs, Managed by Industry Veteran Bob Doll

Crossmark Global Investments has launched two actively managed exchanged-traded funds (ETFs): Crossmark Large Cap Growth ETF (ticker: CLCG) and Crossmark Large Cap Value ETF (ticker: CLCV).
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Crossmark Files Preliminary Registration Statement for Two Values-Based Actively Managed ETFs: Crossmark Large Cap Growth ETF and Crossmark Large Cap Value ETF

The offering marks Crossmark’s entry into the active ETF market and the first ETFs managed by Bob Doll in his four-decade career managing portfolios for clients.