Implications of a Rising Pound
While continued pound strength would weigh on unhedged cross-border U.K. investors, it should not crimp corporate profits so long as global growth stays strong.
Research Publications Archive
Much Ado About Nothing
Is all the talk about high equity risk premiums missing the bigger picture?
All Quiet on the Eastern Front?
Is a booming emerging Europe veering toward an “Asia-Style” crisis?
The Changing Face of Emerging Markets Debt
While the external debt market continues to fade away, rapidly expanding local currency markets offer opportunities for enterprising investors.
Investing in Clean Energy and Technology
“Cleantech” provides an evolving investment opportunity that could potentially offer lower correlation to and different risk characteristics than traditional investments. This report presents an overview of the investment outlook for cleantech investing as well as analysis of market size and growth potential; performance characteristics; major risks; and implementation considerations, among other factors.
Graying Around the Edges?
If tech stock earnings disappoint again in 2007, overall earnings are likely to fall short of expectations.
A Cautionary Tale on U.K. Property
Lessons learned from the early 1990s liquidity-driven property market crash.
Asian Small Caps: Assessing the Landscape
Benchmark indices for Asian small caps differ significantly, indicating the substantial judgment required of managers in this space.
Making Sense of the Negative Roll Yield: Some Guidance for Commodities Investors
A substantive discussion on the recent negative roll yield of the Goldman Sachs Commodity Index and what it means for investors. This paper also touches on the GSCI Total Return Index, the Dow Jones-AIG Commodity Index, historical returns of commodity indices, and offers implementation options to commodities investors.
The Ghost of Laurels Past
Equity valuations seem reasonable, but watch out for mean-revision of earnings growth.