Beyond Bulls & Bears

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A Strengthening Case for European Bonds

Although the pace of economic improvement in the eurozone is slow, there is at least some growth. We are optimistic about the prospects for fixed income investing in the region—perhaps more than many other areas of the world.

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A Mid-Year Crossroads for US Equities?

I don’t necessarily see low levels of volatility as a problem. There have been extended periods of very low volatility, such as in the early to mid-2000s and early to mid-1990s, when the equity market continued to do well.

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The International Attraction of MENA Markets

The Saudi Arabian cabinet has finally authorized foreign direct investment in locally listed equities, with market opening now targeted for the first half of 2015. This is unanimously viewed as a massive step forward for the region.

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Standing By Convictions in European Equities

I believe the European Central Bank (ECB) in June gave compelling new reasons for investors to take an active interest in Europe.

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Global Economic Perspective: July

Given the quickening pace of [US] growth, combined with continued improvements in employment, the expectation that inflation will stay at its current levels may turn out to be unjustified.

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Fixed Income Outlook: Moving From Zero

Our view is that if you think about fairly strong US economic growth in the neighborhood of 3%, combined with a gradual continued improvement in the employment figures, the expectation for inflation to stay at current levels may be somewhat optimistic, at least given historical context.

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Strategies for Income-Seeking Investors

We continue to be optimistic that the US economy will continue to experience modest growth and improvement, specifically in employment. Ultimately, that improvement should go hand-in-hand with a gradual normalization in interest rates.

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Redefining the Large- Vs Small-Cap Debate

A lot of investors looking for equity values want to try to split the market into large-, mid- and small-cap. I think what's been going on recently is a little bit more complicated than that.

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Hasenstab: The Contrarian Case of Hungary

We started investing in Hungary a number of years ago when the market was very bearish on the fundamental outlook for the country. We saw long-term potential even though we recognized that in the short term Hungary faced a difficult period.

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Global Economic Perspective: June

With 10-year US Treasury yields dropping below 2.5% at one point during early June in spite of improving forward economic indicators, the US bond market has continued to send out confusing signals, in our view.

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On-the-Ground Perspective in Thailand

For most Thais and Thailand-watchers (including us), military coups in the country have almost become a way of life.

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Actively Managing for a Less-Correlated World

I think there has recently been a movement away from just a one-decision trade, where investors are simply reacting to moments of panic or euphoria, into a place where it is more possible to make rational decisions based on fundamentals.