Every year, the prognosticators come out of hiding. You have to wonder why they bother, given their record.

Not one asset class -- from bonds to U.S. and international stocks to commodities -- are on track to post a return this year of more than 5 percent.

Successful adaptive managers often share these five characteristics.

Value and low-vol stocks are at the mercy of an aging business cycle saddled with a multitude of threats from interest-rate hikes to market crowding.

The markets will merely tread water next year, according to Fidelity International.

High valuations at home give international markets more appeal.

The co-founder of Oaktree Capital Management on how advisors can stay competitive, the tyranny of benchmarks and why cash is not the best way to de-risk a portfolio.

Beware of those who claim they have a strategy to capture the upside of market volatility and avoid the downside.