Monthly Archives: January 2016

Turbulent Start to 2016

Equities are having one of their worst Januarys in history.[1]  There are a number of factors contributing to this increased market volatility, including: Steep declines in commodity prices, which are causing an increase in credit defaults and are having a … Continue reading

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Opportunities for Value Investors

Current market and economic conditions are extremely complex. Structurally low growth, high global debt, and very weak inflation expose the global economy to vulnerabilities and downside risks. Central banks, although remaining vigilant on financial stability, are progressively losing effectiveness, and … Continue reading

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European Equity: 3 Themes for 2016

All About Alpha[1] We enter 2016 in a different mode to the last number of years. Price Earnings[2] expansion has driven equity markets as central bank policy has encouraged investors towards riskier asset classes. This era of liquidity is now … Continue reading

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Tough Start to the Year

The global financial markets have started the year in full-blown risk-off mode. The trigger to this acute bout of risk aversion has been a tightening of global financial conditions, with the catalyst being the U.S. The Bloomberg U.S. Financial Conditions … Continue reading

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Get Used to Volatility

What are the reasons that are driving the equity market correction in early 2016? The ongoing market correction is, in my view, a combination of different factors; macroeconomic and technical. As already happened last summer, financial markets have become more … Continue reading

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