Has Recent Market Action Created Opportunities for Investors?
The answer depends on what kind of investor you are.
Investment Planning
Has This Summer’s Sell-Off in Energy-Related MLPs Changed Their Appeal to Investors?
For value-biased investors, energy master limited partnerships (MLPs) are (somewhat suddenly) more appealing than they have been in several years.
Are Low Volatility Products Attractive Today?
While by some metrics low volatility stocks appear richly valued today, low volatility strategies are still relevant to many investors and can play an important role in portfolio construction.
Investment Publications Highlights: July 2015
July’s publication summarizes three articles addressing risk factor investing. The first argues for the inclusion of a diversified factor strategy in a portfolio, the second outlines a broad framework aimed at identifying appropriate factors, and the third calls for higher statistical hurdles to test newly discovered factors.
The Forgotten 70%: Strategies for Pension Plans Accruing Benefits
Plans with active participants need a holistic, flexible risk budgeting approach—not a simple glide path
What Should Investors Make of Recent Headlines from China and Greece?
The situations in China and Greece, not to mention Puerto Rico’s debt woes, serve as a poignant reminder not to be complacent. Investors should take care that portfolios are well constructed, diversified, and consistent with their ability to absorb downside risks while meeting long-term return objectives. With risks rising in some areas, and few bargains…
VantagePoint: Third Quarter 2015
This edition of VantagePoint reviews the potential for contagion from Greece, concluding that the ECB appears to have adequate ammunition to manage through current conditions, but longer-term political risks remain. We consider recent activity in Chinese equity markets and conclude that offshore Chinese H-shares offer more appeal than onshore A-shares, where upside potential is limited as highly leveraged investors seek to reduce exposure by selling into rallies. We examine the prospects for a sustained reversal of major trends that have persisted since last year, concluding that reversals appear unlikely for now.
Introducing the Impact Investing Benchmark
While private impact investing has experienced significant growth and maturation, the field is in need of robust analysis on financial performance to help inform investor expectations. This report introduces the first Impact Investing Benchmark, which begins to address this important facet of the conversation.
Investment Publications Highlights: May 2015
Market Valuations at the Start of US Rate-Hike Cycles Charles Himmelberg et al., Goldman Sachs, April 26, 2015 The Federal Reserve’s expected decision to hike rates later this year has prompted questions about the impact on the market, particularly given the prolonged period rates have effectively been held at zero. In a recent article, Goldman…
Investment Publications Highlights: April 2015
Quicksilver Markets Ted Berg, Office of Financial Research, March 2015 Earlier this year, US equity investors celebrated the current bull market’s sixth anniversary and the tripling of prices that accompanied the uptrend. These heady gains have left equity prices high by historical standards. In a recent article, the US Treasury Department’s research arm notes that…