Market View

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

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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