Beyond Bulls & Bears

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Equity

Brexit: How Quickly May the Surprise Wear Off?

Our view is it’s important to focus on the fundamentals of individual companies. We think it’s a stock-picker’s market, and there may be some attractive value opportunities opening up, although they may close rather rapidly.

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Equity

The Post-Brexit Irrationality of Markets

Investors are now mulling over what this decision might mean for the UK economy and that of Europe as a whole. Without question, this decision creates uncertainty because there is no blueprint for a country to leave the EU.

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Value Unbound: The Implications of a Nascent Value Revival

During the (tech) bubble, all it took to topple tech stocks priced for perfection was a little bit of bad news. Just a little bit of good news may be sufficient today to spark a recovery among value stocks that seem to be pricing in permanent disappointment.

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Equity

On Brexit, Banks and Bargains

I believe the results of the June 23 referendum will likely mirror those of the 2014 vote on Scottish independence: Once people are in the voting booth, I believe they will sober up and decide to stick with the status quo.

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Equity

Can European Banks Rebound from the “Triple Whammy”?

Although we expect banks will likely have to raise their loan-loss provisions for energy borrowers in the near term, we don’t believe it will significantly crimp their bottom lines.

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Equity

The Politics—and Potential—of US Biotech

We do not believe anyone wants to ‘kill the golden goose,’ however, and even politicians would likely admit that draconian price controls would reduce the incentive for investing in drug research and development, which has resulted in many breakthrough therapies in the last several years.

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Equity

Oil-Price Pessimism May Be Presenting Opportunities

Although investors’ overall sentiment toward commodities and natural resources equities improved in the latter half of the first quarter, they seemed to generally remain skeptical that commodity markets were on the mend. We see this scenario as potentially laying the groundwork for further gains going forward.

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Equity

Tech Innovations: Best in Two Decades?

The volatility we have seen this year hasn’t dampened our outlook for tech companies. In fact, in my 20+ years researching technology stocks I haven’t seen a more robust period of innovation than we’re experiencing today.

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A Golden Opportunity?

We continue to see attractive investment opportunities in gold and precious metals equities, with many companies trading well below what it would cost to build their existing mines today. We believe many gold companies are also well-positioned to survive a weak price environment.

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Equity

Volatility Is Not an Indicator of US Recession

I believe when we look back through the rear-view mirror later this year, we will see this period as a growth pause in a long expansionary cycle.

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Alternatives

Oil’s Well That Ends Well?

With the modest-at-best global economic recovery after the still front-of-mind global financial crisis trauma from 2008-2009 … markets are understandably preoccupied with the scope for unpleasant shocks.

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Will Market Volatility Put US Rate Rises on Hold—for Now?

In all likelihood, the Fed will probably hold fire on interest rates until markets calm down for a period of time.