Beyond Bulls & Bears

A Measured but Constructive Market View
Equity

A Measured but Constructive Market View

The market environment for value investors over the past few years has been less than ideal, but that doesn’t mean there aren’t opportunities to be had. Templeton Global Equity Group Director of Portfolio Management Antonio Docal and Director of Research Heather Arnold say they plan to use recent market volatility to uncover values. They share some brief thoughts on issues facing investors today, including trade wars, Brexit and slowing growth in China.

Value Update: Where Is the Next Pocket of Opportunity?
Equity

Value Update: Where Is the Next Pocket of Opportunity?

"As the anticipated value rally gains steam, we think non-US stocks should begin to benefit. Like the value universe a year ago, non-US equities today look to us to be undervalued, under-owned, and exposed to positive catalysts, including improving corporate fundamentals, economic tailwinds and political and policy support.” - Templeton Global Equity Group

Value Unbound: The Implications of a Nascent Value Revival

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.

On January Barometers and Market Bargains

On January Barometers and Market Bargains

We are now witnessing historic extremes in the discount afforded to value relative to growth, quality and safety. While this environment has been (and may remain) painful for some time, the eventual normalization of these extremes represents the most compelling opportunities in equity markets today.

Greece’s Precarious Position

Greece’s Precarious Position

Given how fluid this situation is currently, attempting to assign probabilities to a Greek exit scenario remains a moving target on a daily basis.

Brexit Signs: Envisioning an EU Without the UK

Brexit Signs: Envisioning an EU Without the UK

In my view, the big risk for the United Kingdom of exiting the EU would be marginalisation, not just economically, not just financially but also politically … I would even go so far as to suggest that the status of the United Kingdom as a large world financial centre could be at risk if it were to leave the EU.

Meet the Manager: Heather Arnold

Meet the Manager: Heather Arnold

My father sparked my interest in the mutual fund industry while I was just in high school. He was a keen follower of companies and stocks, and he liked to discuss them at the dinner table. I went with him to a Templeton shareholder meeting years before I worked for the company.

Active Opportunities in a Passive World

Active Opportunities in a Passive World

To stay in line with benchmark allocations, passive funds buy more of the stocks that get bigger while selling the stocks that shrink. By doing so, they are perpetually rotating away from cheaper stocks that have underperformed and into more expensive stocks with limited upside potential.

Weighing the Odds of Compromise in Greece, and the “Grexit”

Weighing the Odds of Compromise in Greece, and the “Grexit”

We would be surprised if Greece’s creditors offered any fresh money until the new government makes clear its intentions vis-à-vis the country’s existing debt obligations.

2015 Investment Outlook: Oil Price Declines and Implications

2015 Investment Outlook: Oil Price Declines and Implications

While we expect continued volatility [in the energy sector] in the near term given depressed sentiment, we believe that the current environment offers a rare opportunity to buy what we consider long-term income and growth opportunities at deeply distressed levels.

Has Europe’s Recovery Story Turned Back a Page?

Has Europe’s Recovery Story Turned Back a Page?

If anything, recent weakness—particularly compared to the relative strength of the US market—has only served to strengthen the value case for European equities, in our view.