“To everything there is a season, and a time to every purpose under the heaven.” Ecclesiastes 3:1

Yes, that is right, this is not just a song by The Byrds, it is scriptural wisdom, and whether one learned it in Sunday school or by singing along to the radio it is just as true. For what seems like years now, we have been talking about the market’s unhealthy skew towards large growth companies.

The rising tide has not lifted all ships and investors who buy value stocks, or the stocks of smaller companies and those headquartered overseas have seen little in the way of growth.

Some of our clients have even taken to making fun of me (to my face – they always make fun of me behind my back) because of my insistence that this will pass. The season will change, value is coming. Not only has my tune not changed, but we may have already seen the change.

The trigger for this season change appears to be Wall Street’s hope for stimulus. The focus on the word stimulus was translated economic growth. We have seen false starts in this transition before, and it is possible that is all the last four months have been. These larger trends do however go on for years, and lately a decade seems to be the life span. “To everything there is a season…a time to plant, and a time to pluck up that which is planted.” We appear to be in the time to plant some diversification.