Relative Valuations: Less Than Meets the Eye
Despite a near six-year run by small-cap and value stocks, the relative opportunity in large cap and growth is somewhat limited.
Research Publications Archive
European Equities Getting Pricey
Normalized P/E ratios that adjust for earnings cyclicality suggest that these markets are quite a bit more expensive than do standard P/E metrics.
What`s Been Driving the EM Equity Rally?
While much of the rally has been powered by fundamentals (i.e., rapidly rising earnings), recent returns have been boosted by enormous fund inflows that suggest a bit of frothiness is creeping into the asset class.
U.K. Property Still on the Boil
Investors continue to pour money into the sector, but high prices and low yields are likely to damp long-term returns.
U.S. Bonds: Navigating the Shifting Structure of the FI Marketplace
Product innovation brings new opportunities, but also can significantly alter key performance drivers.
Inflation: Should Investors Be Concerned?
While secular inflation is likely to remain in check, investors should be prepared for potential cyclical inflationary spikes.
Characteristics of High-Yield U.K. Equities
U.K. charities that must operate under income-only spending policies should actively monitor and manage the potential biases a high dividend yield strategy may introduce.
Indian Venture Capital
This report suggests that India is among the most attractive regions for venture investing in Southeast Asia, and the software and telecom sectors appear particularly promising. Also included is information on 21 partnerships already invested in Indian venture capital.
Timberland Investing: An Introduction
This paper examines the potential risks and rewards of a timber investment, as well as vehicles, terms, and benchmarks.
U.S. Equities: Are Things Really Different This Time?
While the recent resilience of the U.S. economy and financial markets has been impressive, valuations remain stretched.