While markets may rally over the coming months, the hurricane of deleveraging is far from over, with a second wave of turmoil likely as a weakening U.S. economy weighs on growth in the rest of the world, a scenario still not fully priced into equity markets.
While the Fed is committed to a policy of reflation, market conditions pose significant obstacles to success and there are also serious inflationary risks associated with this policy.
Deleveraging, insurance woes, and liquidity concerns deliver pitfalls and opportunities to taxable investors.
REITs are undeniably cheaper than in the recent past; still, there could be more downside yet to come.
Our letter to the Senate Finance Committee regarding their January 24, 2008, inquiry to large colleges and universities.
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.
A look at what history tells us to expect as the earnings, business, and stock market cycles converge.
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.
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.
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.