Featuring: Van Hoisington & Lacy Hunt

Van Hoisington & Lacy Hunt

Van Hoisington is the President and Chief Investment Officer of Hoisington Investment Management Company, a firm with nearly $6 billion in fixed income assets under management for insurance companies, endowments, pension plans, and charitable organizations. The firm also manages the Wasatch-Hoisington U.S. Treasury Fund. Van started Hoisington Investment Management Company in 1980 after serving as Executive Vice President at Texas Commerce Bancshares in Houston. Previously, he was an economist with the United California Bank in Los Angeles. He received his Bachelor of Arts degree from the University of Kansas in 1962 and his master’s degree in business from Fort Hays Kansas University in 1970.

Dr. Lacy H. Hunt, an internationally known economist, is Executive Vice President of Hoisington Investment Management Company (HIMCO), a firm that manages nearly $6 billion for pension funds, endowments, insurance companies and others. He is Vice-Chairman of HIMCO’s strategic investment policy committee and also Chief Economist for the Wasatch Hoisington Treasury Bond Fund.


This essay was originally published in Hoisington Investment Management Quarterly Review and Outlook, Fourth Quarter 2002 Balance Sheet Strains Restrict Economic Growth Efforts to make debt more manageable in the private sector will limit the growth in real GDP to a 0-2% range in 2003. At the end of September 2002, U.S. private sector debt […]

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…The inflation rate, the dividend yield relative to the yield on Treasury bonds, and the P/E ratio suggest that we are coming into a time when stock returns will be considerably diminished relative to the return on bonds…Over very long periods of time stocks must outperform bonds, because investors must be rewarded for riskier assets, […]

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This excerpt was originally published in Hoisington Investment Management Company’s Quarterly Review and Outlook, Third Quarter 2009. The Federal Reserve reported that as of June 30, 2009 total U.S. debt was $52.8 trillion. Total U.S. debt includes government, corporate and consumer debt. Importantly, however, it does not include a few trillion in “off balance sheet” […]

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This essay was originally published in Hoisington Investment Management Company’s Quarterly Review and Outlook, First Quarter 2009. Over the next decade, the critical element in any investment portfolio will be the correct call regarding inflation or its antipode, deflation. Despite near term deflation risks, the overwhelming consensus view is that “sooner or later” inflation will […]

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This excerpt was originally published in Hoisington Investment Management Company’s Quarterly Review and Outlook, Second Quarter 2010. Real GDP has improved for four consecutive quarters (2nd qtr. est.), albeit at a substandard pace following the steep decline in economic activity of the previous year and a half. An impressive recovery in business sales and industrial […]

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This excerpt was originally published in Hoisington Investment Management Company’s Quarterly Review and Outlook, First Quarter 2003. Despite six consecutive quarters of real GDP growth that has averaged 2.6%, the U.S. economy continues to experience recession-like conditions in employment and corporate profits. Job losses now total 2.6 million in the private sector since the peak […]

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