What Happens When the Fed Becomes Sated?
Fed purchases of more than $1 trillion in government-related securities in 2009 have dominated the market, but a first quarter halt to these purchases may pressure prices.
Research Publications Archive
Asian Hedge Funds
This report examines the performance of Asian hedge funds in 2008, discusses issues to keep in mind when considering an investment in Asian hedge funds, and explores the role of such funds in a portfolio.
Private Equity Fund Investing in the Middle East and North Africa
The Middle East and North Africa (MENA) region is moving quickly to establish itself as an attractive segment of the global private equity market. This paper provides an overview of the MENA region, the macroeconomic and business landscape, and the landscape for private equity investing.
Japan: Will the Sun Ever Rise?
Japanese equities are again oversold, unloved, and undervalued to the point where in the past the market has managed to post subsequent relative outperformance. However, it may be some months before Japanese equities decisively outperform, given the headwinds of a strong yen and uncertainty surrounding economic policy and the strength of the global economic recovery.
Can Sterling Regain Its Luster?
On a fundamentals basis the medium- and long-term negatives for the pound seem much more numerous than the positives, but sterling could surprise on the upside should real reform and a sustainable economic recovery occur.
High-Yield Bonds No Longer Compelling
Investors that favored high-yield bonds over equities have fared well over the past year, but further upside may be limited.
Dividends: Feeling the Pressure
Even as the global economy has been showing some nascent signs of recovery, we expect dividend payouts will continue to be pressured as companies globally adapt to a tougher earnings environment.
Living on Borrowed Time – Dissecting the Current Equity Market Rally
The powerful move in equities from their March lows has outpaced fundamentals. History indicates that at this point in the cycle the easy gains have been made and returns going forward will likely be muted.
Behavioral Risk
Managing behavioral risk is arguably prerequisite to effective implementation of other risk mitigation strategies. This paper identifies ways investors can counter the urge to stampede for the exits during times of crisis.
Is ETF Trading Causing Wider Ripples?
Index-based trading will influence correlations, volatility, and manager opportunities.