Koizumi Steps Down: Implications for Investors in the Japanese Market
Investors in the Japanese market have enjoyed a good run under the Koizumi Administration but will need to monitor whether Koizumi’s successor continues the reform process.
Research Publications Archive
Should Equity Investors Fret Over the Strong Euro?
Continued strength in the euro would likely put increasing pressure on European corporate profits, and by extension European equity markets.
Reassessing the Hong Kong Market
Hong Kong-listed stocks provide direct and indirect exposure to China. Investors should be aware that mainland Chinese companies play an increasingly prominent role in Hong Kong’s stock exchange but that exchange-tracking indices significantly differ in the degree to which they include Chinese shares.
Still Pounding the Table on Quality
In a world of overvalued financial assets, high-quality shares look to be one of the last bargains left.
A Closer Look At Emerging Markets Equity Valuations
Emerging markets equities, while still attractive relative to developed markets, are not especially cheap in absolute terms.
Investing Abroad While Staying at Home: The Case of the U.K.
U.K. investors seeking equity exposure to global opportunities will likely need to invest more broadly than just in the FTSE All-Share Index.
Cutting Strategic Allocations to U.S. Equity
In all developed markets, but particularly the United States, investors’ bias in favor of domestic equities is irrational and sub-optimal. We recommend that investors` strategic equity allocations be equally divided among the Americas, Europe, and Asia.
Trends in the Hedge Fund Industry
The rapid growth and maturation of the hedge fund industry has sparked a debate about the role of marketable alternative investments in institutional portfolios. This report is examines whether the growth and maturation of the industry has made marketable alternative investments less compelling, explores other trends that are transforming the competitive landscape in the industry,…
Prospects for U.S. Equities Remain Bleak
Consensus earnings expectations seem too high considering the strong market headwinds and advanced nature of the earnings cycle, while valuations remain elevated.
Bull Market in Dividends
Recent dividend growth, while extreme, has not kept pace with either corporate earnings or equity prices, but payout ratios are right in line with historical averages once you look at cyclically adjusted earnings.