Technology Stocks: Not Necessarily Cyclical
We see two compelling drivers of strong growth for tech stocks ahead, even if the economy weakens, as my colleague Scott Wallace explains.
read moreMore Emerging Markets, Less Volatility?
The steep drop in returns for emerging-market stocks this year—even worse than the drop for developed-market stocks—provides a useful reminder that the asset class remains risky, despite its many attractions. How can investors capture the strong economic and earnings growth in emerging markets without taking on so much risk? I see two ways: One is [...]
read moreDo Investors Really Think Earnings Are Going off a Cliff?
Investor concerns about the future of global and US economic growth and corporate profitability are understandable. But corporate profitability has never been as low as the equity risk premium (ERP) now suggests. Thus, we believe the long-term upside potential in equities is extraordinary, as my colleague Joseph G. Paul explains in the article below.
read moreIs Active Management Dead?
Active equity managers have had an extraordinarily difficult time delivering premiums over the last year, especially managers with a bottom up approach focused on corporate fundamentals. (Active strategies driven by macroeconomic concerns have done better recently.) Here’s why we think active strategies driven by corporate fundamentals are down, but not out—as ably explained by my [...]
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