Emerging Markets – Buy the Dip or Fade the Rally?
The near-term outlook for emerging markets equities is not very compelling; should shares continue to fall sharply, investors will need to reassess their desired tactical allocation.
Research Publications Archive
European Equities: Lower Prices, But How Much Value?
Despite moving into the fair value range, European equities are not attractive at this time.
The Case Against Containment
While many pundits expect the financial sector’s problems to remain “contained,” we not only expect the bear market to spread beyond financials, but believe the economic damage may be greater than that inflicted during the downturn of 2000–03.
Surviving the Bear Market – An Investor’s Guide
During prolonged bear markets, investors naturally focus on how best to allocate portfolio assets to ensure they are not wholly exposed to the full brunt of declining equity prices. However, as the economy deteriorates and the financial sector in particular suffers declining revenue and job losses, investors should also consider whether they have increased exposure…
The Evolving U.K. Equity Market
Exposure to global mining and energy firms continues to ramp up.
U.S. Financials: Catch a Falling Knife?
Despite low valuations, U.S. financial stocks will likely remain a “value trap” until greater clarity emerges as to the ultimate magnitude of losses facing the financial system.
Endowment Management
A summary of our views on the questions and issues which those responsible for managing an endowment must resolve if they are to invest the assets effectively.
Large Firms Stepping Off the Share-Buyback Treadmill
After years of supporting share prices and EPS growth with increasingly aggressive share-repurchase programs, companies are showing signs of buyback fatigue.
Commodities: Is the Investment Well Running Dry?
Six years into the commodity boom, and despite increasing risk factors, there remains a strong rationale for a properly conceptualized and managed portfolio allocation to commodities.
The Implications of Falling U.K. House Prices
While a large segment of the U.K. equity market is exposed to direct of knock-on effects of house price declines, this is not reflected in current prices.