Buckle Up! Oil Markets Are Likely to Remain Chaotic
Negative prices on near-dated WTI futures grabbed headlines yesterday. However, we should not assume from this that oil has negative value.
Real Assets
Market Matters: March 2020
Global risk assets suffered major drawdowns comparable to the global financial crisis in first quarter.
The Complex Relationship Between Inflation and Asset Prices
As we write in March 2020, COVID-19 is spreading across much of the world, undercutting economic activity. While we are unsure of how this situation will unfold, we have long believed that the best way to guard against future uncertainty is to have a well-constructed portfolio. One key component in that is understanding the relationship between asset prices and inflation.
Crude Oil Prices Collapsed—Should Investors Buy Public Energy?
No, we do not believe investors should add a new overweight to public energy at this time. Political machinations and virus-induced uncertainty are weighing on oil prices at present, and it seems unlikely that both of these obstacles will soon be lifted. Instead, investors should closely monitor positioning to ensure their current level of energy exposure is intentional.
Market Matters: February 2020
Global risk assets suffered significant drawdowns in February as concerns over COVID-19’s impact on global economic activity grew.
Private Property Trends: Analysis of Operating Metrics for US Real Estate Properties
Insights into key metrics for private US real estate managers and how they have evolved over time.
US Manager Universe Statistics: Fourth Quarter 2019
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Review of Market Performance: Calendar Year 2019
The gradual abatement of geopolitical risks, and a renewed accommodative stance from global central banks, led to a strong rebound in risk sentiment in 2019. Equities led the way higher, while interest rate cuts ensured fixed income markets participated in what was a robust year for asset classes across the board. This chart book explores global asset returns and the factors influencing performance last year.
VantagePoint: Disruption, Demographics, and Decoupling
The start of a new year and a new decade is an opportune time to reflect on megatrends that will be consequential over the next ten years. In this edition of VantagePoint, we focus on three such trends and their investment implications: disruption, demographics, and decoupling.
US Manager Universe Statistics: Third Quarter 2019
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.