Carmignac's Note Investors are used to dealing with uncertainty – the very essence of financial markets – as they seek to anticipate what is necessarily an elusive future. However, these past six months have driven uncertainty into entirely uncharted territory,
In many things 90% is just fine; for an economy it is miserable Bankruptcies and the fear of a second wave Life will be hard—at least until a vaccine or a treatment is found
Foreword We are pleased to present the results of the 2020 European Risk Manager Survey. The survey has taken place every other year since 2002 and represents the widest available picture of views of professional risk managers across Europe. The
Understanding fraud risks and prevention for investors and companie Until recently, sustainability information and management has been a secondary activity for many companies. Often, a separate sustainability department was created and given the responsibility for the development of sustainability projects
This paper examines the case for adding bitcoin to a diversified portfolio of stocks and bonds. Specifically, we consider the impact that different allocations to bitcoin would have had on a Traditional Portfolio consisting of 60% equities and 40% bonds
Een oproep aan de sector op basis van onderzoek bij banken, verzekeraars en financieel dienstverleners Financiële ondernemingen zijn wettelijke verplicht een beheerst beloningsbeleid te voeren. Hiervoor moeten zij onder meer financiële en niet-financiële risico’s inventariseren die gepaard gaan met het
A Modern History of Impact Investing The concept of integrating values into investment decisions is not at all new. History is full of these examples: from early religion-based investing to the more recent role of divestment in key social and
A compilation of thought-provoking insights produced by Man Group during the month. Inflation Regime Roadmap Teun Draaisma, Ben Funnell and Henry Neville from Man Group’s DNA team study the history of inflationary regimes, and conclude that current extremes in deflation,
Credit Continuum Monetary stimulus measures and high levels of cash continue to support spread tightening between now and year end. The rally in credit markets has continued in May given Federal Reserve and European Central Bank support measures and the
Learning about bitcoin is hard. It may often entail wading through specialized courses targeting software developers, pages and pages of forums and tweets, or endless blog posts to find the answer to a single question. Even more challenging is knowing
As countries begin to roll back ‘lockdown’ measures, how and when do we know it is safe to do so? The Oxford COVID-19 Government Response Tracker (OxCGRT) provides a cross-national overview of which countries meet four of the World Health
BIS Bulletin Key takeaways For a two-week period in mid-March 2020, government bond markets experienced uncharacteristic turbulence, sometimes selling off sharply in risk-off episodes when they would normally attract safe haven flows. Evidence in the US Treasury market points to
“All roads lead to gold.” Takeaways Monetary policy normalization has failed …
Market Commentary This is not the first time that Carmen Reinhart has cried wolf. As recently as May 2018, she argued in a Bloomberg interview that rising US inflation and US rate hikes would sink EM, because “more than two-thirds
Market Commentary As of 27 April 2020, eighteen times more people have died from coronavirus per million of population in developed countries (DMs) than in Emerging Markets (EM). This is partly due to measurement problems, but there may also be
Flash Note During times of crisis, investors used to retreat into tried and trusted safe havens, such as gold or long-dated government bonds, while sustainable investing was viewed as a fashion or something of a luxury during uncertain times. I
Several countries are now heading into downturns, largely because of the demand shock from COVID-19. However, we have been impressed by the global monetary and fiscal policy response so far. We anticipate a broad rebound later this year on the back
Northern Europe set the global standard, along with Hong Kong and Taiwan. The U.S. scores fairly and shows low Carbon Risk. This report examines the sustainability profiles of Morningstar’s 48 country-specific equity indexes. The country indexes, which span developed and
Value investing has underperformed growth investing for over 13 years. We examine several narratives that suggest why the long-term efficacy of the value factor may be dead. Using a bootstrap analysis, we show the likelihood of observing such a large
Investment Outlook Economically, “social distancing,” quarantines, and related shut-downs, along with the fast spread of the virus, have cast a fog over financial-market expectations, leading to declines in a range of assets—including some perceived as risky and others traditionally thought
The global economy, undermined by the trade war between Washington and Beijing, was already showing signs of slowing in 2019. It was hit hard by the COVID-19 epidemic. The containment and exceptional means decided by governments to limit risks have
Global Market Outlook At the beginning of April, the global GLOCAP sample portfolio (50% equities, 50% cash) remains 33.3% overweight in equities. Nonetheless, the assessment of the fundamental economic market environment has changed significantly given the serious turbulence on …
House View Q2 2020 The near-term economic outlook will undoubtedly be weak. The only debate is how deep the decline in activity will be and how long it will take to recover. From a financial market point of view, one
Monthly Investment Brief It seems futile indeed to make predictions about the economy and the market when there is so much uncertainty about the pandemic itself. To be perfectly honest, no one really knows how things are going to pan
No it’s not. Quite the opposite. I didn’t want to keep you in suspense. Now for some detail. My colleagues have written a great paper (IMHUO) examining the issue (and sharing this blog’s title). It goes without saying that we
"Rising Tension Between #U.S. and #China Elevates Trading Issues" -> https://www.opiniopro.com/2020/07/t-rowe-price/rising-tension-between-u-s-and-china-elevates-trading-issues/
"#Swiss #Equities – Structural #value creation" -> https://www.opiniopro.com/2020/07/ubp/swiss-equities-structural-value-creation/ @UBP_Group
Fancy a #webinar? Check out our #events calendar: https://www.opiniopro.com/events/
Be up to date with the latest #investment thinking ->
https://mailchi.mp/f5bb9afdbede/opiniopro
