Global Equity

February 27, 2023

Valuation of Insurance Brokerages

Insurance brokers act as intermediaries between insurance companies and insurance buyers. Although insurance brokers perform many of the same functions as insurance agents, they differ in that they act in the interest of insurance buyers, who are looking for a suitable policy at a price they can afford. Unlike insurance agents, insurance brokers have no… Continue reading

Global Equity, Value Equity

insurance broker, insurance brokerage, valuation

July 22, 2022

What You Need to Know About Inflation

High inflation and the consequences of attempts to curb it are a top concern for investors nowadays. By hiking rates, policymakers can eventually slow demand to subdue price pressures, even in an environment of constrained supply. However, this process takes time. Prices reflect the interaction between supply and demand: when demand outstrips supply, prices must… Continue reading

Asset Allocation, Fixed Income, Global Equity, Global Macro

Inflation

March 24, 2022

Uncertainty Clouds the Outlook

An anti-goldilocks economy refers to the global economy where policymakers are confronted with a stagflationary supply shock, which is negative for growth and will tend to push up inflation further. In the current market condition, inflation is “too hot,” as evidenced by the higher energy and food prices, as well as the disrupted supply chains… Continue reading

Commodities, Emerging Markets, Energy, Fixed Income, Global Equity, Global Macro, High Yield Bonds, Market Commentary, Portfolio Management, Real Assets

economic outlook, market overview, market recap, Portfolio Management

February 21, 2022

Value Discount

Value stocks outperformed through mid-February this year as investors repriced expensive growth stocks. Mounting inflation and rising interest rates are creating conditions for broader value recovery, particularly for companies with solid business fundamentals. Style return patterns have been erratic over 2021, where returns of global value stocks and growth stocks flip-flopped, and both cohorts ended… Continue reading

Global Equity, Technical Analysis, Value Equity

Equities, Inflation, Rising Rates

March 23, 2016

A Stable-Growth Environment: Value is Likely to Perform Better

For many value-oriented investors, the last five years have been a challenging period given an elevated macroeconomic risk and bouts of volatility, backdrop of the low growth and structural change in China. In the current environment characterized by more stable growth, value equities are likely to perform better. As of the February 29, 2016, U.S.… Continue reading

Due Diligence, Global Equity, Portfolio Management, Value Equity

November 25, 2015

Equity Strategies – Updated November 2015

As global economy converges to more stable rather than rapid growth, debt level and growth dynamics keep interest rates relatively low, and inflation remains muted in developed world, investors are faced with broadly fully-valued market. Macroeconomic variables are favorable for equity investing relative to other asset classes, and investors can employ simple approaches to enhance… Continue reading

Alternative Investments, Asset Allocation, Global Equity, Global Macro, Portfolio Management, Risk Management

September 23, 2014

Summary: Cyclical Growth and Geopolitical Risks

In the Eurozone, expansionary fiscal policy in the form of aggregate demand support and financial sector balance sheet repair has been absent in the post-crisis period (with a few exceptions) and is unlikely to play a role in cyclical developments next year. The fiscal drag will decline on a sequential basis, but the impact on… Continue reading

Global Equity, Global Macro, Market Commentary, Portfolio Management

May 17, 2014

Choosing From Beta Strategies: Bettering Your Investments with a Smarter Exposure

Institutional investors have employed alternative weighting and factor-driven strategies for decades. In recent years, a growing variety of alternative beta strategies have come to market, as investment managers are pursuing alternative opportunities in face of the sharp fall in the share of active management relative to passive investing. These beta strategies have become a fairly… Continue reading

Global Equity, Hedge Funds, Managed Futures, Portfolio Management, Risk Management

November 4, 2013

The Halloween Effect Revisit 万圣节效应

Historically, stocks tend to outperform in November, stall in December and January, and then resume higher in February and March. Stock markets have seasonal effects and calendar anomalies, which challenge the Efficient Market Hypothesis (EMH). The Halloween effect conveys investors’ belief that the average equity returns of November through April are significantly stronger than the… Continue reading

Behavioral Finance, Financial Modeling, Global Equity, Global Macro, Technical Analysis

Halloween Effect

July 30, 2013

Earnings Manipulation Detection and The M-Model

Management quality is one of the most important elements in choosing an investment; management is incentivized to hit the target and increase long-term earnings, in reality, this does not necessarily mean long-term value would be created. The first step in any successful public equity investment strategy is to determine whether reported earnings are trustworthy. Benford’s… Continue reading

Financial Modeling, Global Equity, Risk Management

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