Beyond Bulls & Bears

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Equity

US Equities: Policy Smoke or Solid Pillars?

We continue to see potential opportunities in many sectors of the market, but one area we are particularly excited about is the technology sector. Even more exciting and less obvious are the behind-the-scenes, technology-driven transformations taking place in many industries outside of the technology sector.

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Equity

An Exciting Time for the Energy Sector

Our general takeaway is that energy sector opportunities in 2017 and 2018 are likely to be more idiosyncratic and company-specific, whereas in the recent past they’ve been driven more by the macro commodity price environment. As fundamental, bottom-up investors, this is an environment we welcome.

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Perspectives

French Election Result – It’s Not Yet a Done Deal

On paper, the result of the final round of the French election now looks to be a foregone conclusion; most observers would expect a solid victory for the more establishment Emmanuel Macron over the far-right Marine Le Pen. But if we’ve learned anything from recent political events, it’s to expect the unexpected.

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Fixed Income

How Theresa May’s Election Gambit Could Strengthen Her Brexit Hand

UK Prime Minister Theresa May’s decision to call a snap general election for June 8, caught just about everybody off guard, but we think it could prove a shrewd political move.

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Perspectives

Cutting Through the Political Noise for Opportunities in Europe

Although recent history shows there is reason to be skeptical of political polls, we do not believe populist parties will score victories significant enough in national elections to cause an existential threat to the European Union (EU).

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Perspectives

Notes from the Trading Desk – Europe

The political landscape continues to cast a shadow over financial markets in both Europe and the United States. We will be keeping an eye on polls and reaction in the lead-up to the French presidential election as well as conversations around evolving US-Russia relations.

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Fixed Income

An Investor’s View of the French Presidential Election

Despite the failure of the far-right, anti-immigration, anti-European Union (EU) party to make significant in-roads in the recent Dutch elections, we don’t think we can discount the influence of populism in upcoming European elections completely.

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Perspectives

Why We’re Taking a Long-Term View of UK Mid-Cap Valuations

Most mid-caps are not yet at a level at which we’d want to invest, but we are interested in doing the groundwork now that would enable us to move quickly if we decided that there was an opportunity in the future.

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Perspectives

Beyond the Headlines: Finding Opportunities in Today’s Markets

Looking broadly across the globe, we believe many people are overestimating the negative or catastrophic impact of trade policy on emerging markets. There are still many, many potential opportunities there, in our view.

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Perspectives

Meet the Manager: J.P. Scandalios

The technology sector is synonymous with innovation. Innovation can lead to disruption but that disruption also has the potential to generate massive economic returns over time—more so than any other sector, in my opinion.

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Perspectives

The Cutting Edge: Not Just for Tech Companies Anymore

The ‘military grade’ cybersecurity technology that we expect will be developed may eventually become the standard for the private sector, which will likely be a boon to sectors such as financials and utilities, which tend to be more vulnerable to cyber attacks than others.

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Fixed Income

Does Dutch Election Result Signal an End to Europe’s Populist Surge?

The Scottish government’s demand for a second independence referendum should not have come as a surprise to most observers, but the timing could scarcely have been more awkward for UK Prime Minister Theresa May.