The yields continue being range bound, creating an environment more favorable for companies which derive majority of their earnings further in the future. In addition, earnings growth has peaked and is slowing down, making growth stocks…
Highlights In the near term, the RMB against the US dollar has ceased to be a one-way bet. Market sentiment will re-focus on economic fundamentals, which are less supportive of further RMB appreciation. In the longer term, the…
Our hedging techniques proved profitable this year with the previous long VIX futures trade bringing in gains just shy of 20%, on top of our two synthetic SPY long options trades that added 676% ($5.41/contract) and 2850…
Dear Client, I am delighted to take charge of the US Equity Strategy publication upon Anastasios Avgeriou’s departure. By way of introduction, I have been an investor for nearly 20 years, with my career spanning both the buy and…
The 10-year US Treasury yield has been range bound between 1.5% and 1.7% for the past three months despite fireworks in the US economic data, from CPI readings to unemployment beats. The fact that the bond market has refused to budge no…
In today’s Sector Insight report, we take the opportunity to summarize our views on the US equity market return expectations across different investment horizons. And by doing so help clients reconcile our views with the…
Highlights Political and corporate climate activism will increase the cost of developing the resources required to produce and deliver energy going forward – e.g., oil and gas wells; pipelines; copper mines, and refineries. Over…
On Friday 4th June, I will be debating my colleague Peter Berezin on the future of cryptocurrencies. I believe that the cryptocurrency asset-class has substantial further price upside, whereas Peter thinks that it is going to zero. So…
In yesterday’s Special Report, we initiated a long S&P oil & gas exploration & production / short S&P metals & mining market neutral trade as a way to capitalize on the China/DM growth differential on a 6 to 12-…