Five Key Themes for Equity Investors
Equity markets have started to perk up in early 2013, yet lackluster economic growth is posing a challenge to corporate profitability. In this promising but complex environment, we’ve identified five key themes for equity investors that are worth watching as the year unfolds.
read moreSolving the Profitability Puzzle
Companies around the world enjoyed especially high profit margins in late 2012. But can this trend be maintained or is profitability poised for a collapse that might threaten stocks this year?
read morePay Attention to Pricing Power in 2013
Revisions to earnings forecasts started to improve in late 2012 as analysts’ worst macroeconomic fears eased. But this year, global companies may find it tougher to boost profits while their pricing power remains weak.
read moreDon’t Get Trapped by a Crowd in Stocks
Nobody likes to be stuck for too long on a crowded bus or train—especially when it’s time to get off. But when it comes to stocks, we often overlook the risks of getting trapped with too many people in an untenable position.
read moreWhat’s Bubbling Up? The Hidden Costs of Indexing
Investors eager for “safety” have been piling into indexed portfolios at the expense of actively managed strategies—and thus making a big, and risky, bet against deep value and for high-dividend yielding stocks. We think they’re pursuing just the wrong course.
read moreDon’t Paint Yourself into a Corner with Overly Defensive Strategies
Popular strategies for hedging against deflation and hyperinflation are likely to be disastrous if the economic outlook grows more benign as we expect.
read moreA New Paradigm for Balancing Risk and Return
One of the greatest challenges facing money managers in the aftermath of 2008 has been how to balance the fear of loss against the need to take risk in order to generate positive real returns. Striking the right balance between them will, I believe, be the key to investment success in 2012.
read moreThe Power of Diversifying by Investment Time Horizon
No portfolio is protective in all environments, but the best risk-management strategy is to maintain exposure to well-chosen investments and strategies with short, intermediate and long time horizons. Each group will be poised to outperform in different markets and in response to different investor moods.
read moreWill China Help Refocus the Market on the Long Term?
Many Americans fear that China may curtail its buying of Treasury bonds, which could drive up interest rates and slow economic growth. But less Chinese investment in Treasuries might be a blessing in disguise
read moreInvesting in a Range-Bound Market
What do you do when equity markets are highly volatile within a relatively narrow trading range as a result of low levels of investor confidence? Keep a foot in both the contrarian and momentum camps.
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