Market View

Our point of view in current investment topics, from the conclusions of our research to hot market trends.

29.12.2014 | Market commentary

The Vatican Bank, Christmas Cheer, And FATCA

While we would never normally talk about religion on our blog, it is not everyday that the words Vatican and FATCA end up on the same newspaper, let alone headline. In a shocking turn of the events, the Vatican has ushered in a new era of transparency and has brokered a deal with the the US Government for the automatic exchange of taxpayer information. For an institution that is typically...

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15.12.2014 | Market commentary

Holiday Season Quantitative Analysis

What do the Holidays, the S&P500 and the VIX all have in common? Well one analyst put together a chart showing how the stock market reacts when the VIX (the S&P 500 volatility index) rises 34% above its one month low. 

According to the data prepared by the J Lyons Fund...

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28.11.2014 | Market commentary

Even UK Mayor Borris Johnson affected by US ties

We wanted to share this article about London's Mayor Boris Johnson, and his refusal to pay US capital gains tax. Had Mayor Johnon sought our or our expert network's council, many of these issues could have been avoided. 

You can find the full story here: http://www.theguardian.com/politics/2014/...

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28.11.2014 | Market commentary

Perils of Perception

Sticking to the data and not our perception is crucial for investment success. Perception, unlike raw data, is often mixed with our own behavior biases and could lead many to take decisions that are determintal to their financial goals. 

The graphic below illustrates one of many examples.

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17.11.2014 | Market commentary

Through our Lens

Many of you have heard us talking about our investment philosophy that we try to not make any changes unless they will push the needle. While we don’t like to bore our clients (or anyone for that matter) with endless charts, we felt the chart shown below helps best exemplify how we view the world and what we feel actually is a material dislocation that can be acted upon. 

 ...

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11.11.2014 | Market commentary

The Business of Selling Fear

To blunt, in financial markets it is easier to peddle fear than hope. Blame it on our lizard brain’s, but we are preprogrammed for survival. The same instincts and physiological responses that direct human’s fight or flight response are alive and well when dealing with financial stress. In times of market stress, these innate responses not only force our focus to become more myopic but also...

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22.09.2014 | Market commentary

Seismic Shift

Did you hear that? Well if you didn’t, a seismic shift in the asset management markets just occurred. A recent Bloomberg article stated that the California Public Employees’ Retirement System (Calpers) has made plans to exit all hedge fund investments. Calpers has come to the same conclusions that we mentioned in our latest newsletter (...

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04.09.2014 | Market commentary

Never pay up (for stocks)

As quantitative driven investors, we spend the majority of our time searching out how to add risk-adjusted return to our portfolios. Often this involves combing through a myriad of indicators whether they be fundamentally based like P/E, P/B, or P/S to more econometric based such as Wage Growth or GDP. Though, what  is equally as important is knowing what NOT to do. Knowing what not to do...

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