Whither Inflation?
While most investors believe inflation is set to rise, this is hardly a foregone conclusion; indeed, the threats of high inflation and deflation both remain.
Research Publications Archive
The FTSE All-Share: Searching for Fair Value
In order for future real returns to approach those of the last 45 years, unless one makes the highly optimistic assumption of a further expansion in the multiple, either real earnings must compound at a significantly higher rate, or dividend yields must rise.
Last Hurrah for the US$?
Shifting exchange rate policies in Asia may push the U.S. dollar down further.
REITs Decimated in April; Time to Jump in?
REITs are now fairly valued, but proceed cautiously.
Small-Cap Equities: Are They Worth the Risk?
When building return forecasts, be wary of extrapolating past periods of underperformance.
Global Inflation Hedging
This report examines inflation’s impact on investments and evaluates several inflation-hedging strategies with an emphasis on cross-border investments. Exhibits include the performance of various inflation hedges in high and low inflation periods.
Emerging Equity Indices: Changes Afoot
Emerging markets equity indices could undergo a radical facelift if FTSE and MSCI follow through with plans to boost exposure to Korea and/or Taiwan.
TIPS Revisited
Yes, yields are low. But TIPS still have a few things going for them.
T-Bill Returns: What Can We Expect?
How long will cash continue to be trash?
Chinese Equities: Envisioning the Endgame
While the current party may end badly, their long-term prospects still look good.