Time to Buy REITs?
REITs are undeniably cheaper than in the recent past; still, there could be more downside yet to come.
Research Publications Archive
CA Letter to the Senate Finance Committee
Our letter to the Senate Finance Committee regarding their January 24, 2008, inquiry to large colleges and universities.
Taking Stock of U.K. Dividends
While U.K. dividends seem likely to hold up reasonably well in coming years, low dividend yields and the ailing financial sector are likely to limit the protection afforded investors in the event of a market downturn.
As the Cycles Turn
A look at what history tells us to expect as the earnings, business, and stock market cycles converge.
High-Yield Bonds: Be Selective
While we remain bearish on high-yield bonds in general, experienced and talented managers should have a plethora of profit opportunities as spreads widen and defaults rise.
Structured Products: Buyer Beware
While structured products may benefit investors that seek principal protection or have a differentiated view from that of the market, they are not normally the best investment choice due to their high costs and complicated structures.
Outlook 2008: A Year of Living Dangerously
2008 may prove to be a particularly dangerous year, as slowing U.S. and global growth force a turning of the profit and credit-default cycle, the consequences of which equity markets are not well prepared for.
The More Things Change …
While the impressive run-up in Asian equities has caused us to become more cautious on a tactical basis, it has done little to change our long-term bullish outlook for the region.
The Dénouement Begins
We continue to view U.S. equities as overvalued based on both valuations and the difficult economic environment, but advocate tactical bets within U.S. equities rather than a substantial underweight.
Curbed Enthusiasm
European markets are not setting up for a standout 2008.