The Great and Powerful Fed?
While equity markets celebrate Fed rate cuts, underlying conditions (and thus our long-term outlook) are little changed.
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Opportunistic Credit Funds Hoping for Fire-Sale Prices
Managers go shopping in the aftermath of the credit conflagration.
Anatomy of a Credit Crunch
A look at the origins and extent of the credit crackup in the United States.
U.S. Small Cap Investing – Issues and Expectations
Is conventional wisdom correct in assuming that the small-cap sector of the U.S. equity market is less efficient than the large-cap sector? And what, exactly, defines the small-cap sector? This report seeks to answer those questions and others by sorting through the relevant small-cap indices and the biases of manager databases. It also outlines the…
U.S. Value Stocks Moving Out of the Markdown Aisle
The slim premium for growth stocks provides investors an opportunity to upgrade the quality of their portfolios.
Some Thoughts on “Perma-Bear” Adjusted Ratios
Our thoughts on the recent debate in the financial press over the relevance of cyclically adjusted P/E ratios.
Much Ado About Nothing
Is all the talk about high equity risk premiums missing the bigger picture?
Graying Around the Edges?
If tech stock earnings disappoint again in 2007, overall earnings are likely to fall short of expectations.
The Ghost of Laurels Past
Equity valuations seem reasonable, but watch out for mean-revision of earnings growth.
Should ETFs be Part of Your Toolbox?
Utility of ETFs for institutional investors remains somewhat limited, but has increased.