Beyond Bulls & Bears

Is There Scope For Optimism in Europe in 2017?
Equity

Is There Scope For Optimism in Europe in 2017?

We are confident that we could see a decent earnings recovery in sectors whose earnings have been depressed for a couple of years (financials, energy), while cyclical sectors overall should likely benefit from a stronger economy overall.

Note to Central Banks: Equity Markets Are Not Your Problem
Equity

Note to Central Banks: Equity Markets Are Not Your Problem

At some point, I believe we need to disengage from stimulus spending. If world economies can only survive if they are given cheap money—and tons of it—in my view it would mark the failure of the market economy.

Are European Profits Poised for a Comeback?

Are European Profits Poised for a Comeback?

I believe the positive (earnings) trend will continue due to a handful of macro factors including labour reforms, lower borrowing costs and, especially, the depreciated euro, which all could help companies grow their profits.

Weak Euro, Structural Reforms Key to Eurozone Recovery in 2015

Weak Euro, Structural Reforms Key to Eurozone Recovery in 2015

The euro is finally starting to weaken against other major currencies, and we think this weakness should provide an important boost for the eurozone’s exporters, which include not only Germany, but Belgium, the Netherlands, Luxembourg and Italy as well.

German Elections: A Stockpicker’s View

German Elections: A Stockpicker’s View

The European Two-Step

The European Two-Step

A Slow Crawl for Spain, Europe

A Slow Crawl for Spain, Europe