Where has all the Money Gone?
Money supply growth has slowed to a trickle; what does this mean for equity markets?
Research Publications Archive
U.K. Small-Cap Indices: Size Matters
A revealing comparison of the FTSE Small-Cap and the Hoare Govett Indices.
Emerging Markets Equities: More Room to Run
Despite their huge run-up, emerging markets equities still look good.
Rallies From Bear Market Lows
Rebounds from bear market lows are illusory and quick; trying to play such rallies is a fool’s errand.
Benign Inflationary Pressures in the U.K.
Although inflationary pressures appear tame at the moment, the optimal time to invest in inflation-hedging products is when they are out of favor and relatively inexpensive.
Indian Private Equity
This overview outlines the incentives and impediments to Indian private equity investing, and examines potential investments by stage and industry with particular emphasis on finance, telecom, and software services. Exhibits cover annual growth of the Indian private equity market, M&A and IPO activity, and recent Indian private equity investments, including company, industry, and disclosed cost….
Policy Portfolios, Tactical Asset Allocation and Opportunistic Investing
This paper argues that policy portfolios have been misrepresented as inflexible constructs, set in stone by means of efficient frontier analysis, and are incompatible with tactical and opportunistic investing. The appendices discuss the use, abuse, and methodology of portfolio optimization models.
Can the Market Stay in the Sweet Spot?
Rising momentum in the global economy and capital markets threaten to force already-stretched equity valuations to even higher levels.
Reflation Takes Hold
The bulls had their way in 2003, and while the economy could surprise on the upside in 2004, equity valuations and economic structural problems remain a concern.
European Markets Cheer
Free-flowing global liquidity, improving economies, and rising earnings growth prospects pushed capital markets higher in 2003—will the same factors provide a fillip in 2004?