Asian Markets Primer Part V
The varied approaches to defining small cap.
Research Publications Archive
U.S. Equities Are Cheaper, but Fewer Values Remain
With valuations more concentrated, style and market cap should be weaker drivers of return.
U.K. Property: Stretched Valuations and Spotty Fundamentals
Upside from current U.K. property levels is likely to be limited.
Asian Markets Primer Part IV
A look at their recent trends, volatility, correlations, and exchange rate regimes.
Earnings Growth: Don’t Bank On It
The financial sector contributed 30%–40% of S&P 500 earnings in 2002–04, but odds are against this trend continuing.
Relatively Optimistic on U.K. Equities
While U.K. equities look a sight better than U.S. equities, they appear somewhat stretched on an absolute basis.
Asian Markets Primer Part III
Asian equity markets are more concentrated than non-Asian markets, in terms of the market capitalization weightings of the largest economic sectors and the largest companies.
Revisiting Tactical Asset Allocation
This paper details the emergence and growth of global tactical asset allocation (GTAA) and makes a case for GTAA in the current market environment. Strategy implementation, sources of risk, and manager fees are also addressed. Exhibits include a history of tactical asset allocation, “beta” and “alpha” bets taken by GTAA managers, and contact information for…
Timberland Investing – Current Environment
While interest in timberland has grown in the past few years, skillful active management and significant due diligence are needed for investing in this asset class. This paper provides an analysis and outlook for timberland investing, including return expectations for U.S. timberland and the qualitative and quantitative considerations for investing in non-U.S. timberland. Exhibits cover…
History and the Latest Bear Market Rally
While the latest rally has been far more explosive than others since the onset of the bear market in 2000, from an historical perspective it is rather pedestrian.