• Weekly Research Briefing:
    Hong Kong Summerfest

    June 17, 2019

    Imagine a peaceful protest in which one-third of the adult population hit the streets. Well organized, well behaved and they even cleaned up after it was done. Incredible.

    The Fed’s summerfest begins this week as the Fed meets to look at past data and place bets on how quickly the trade wars will slow the U.S. economy. While the market has moved to bet on 75-100 basis points of rate cuts over the next 18 months, few think that the Fed will cut this week.

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  • Bounded Rationality:
    Tapping Investor Behavior to Source Alpha

    Tapping Investor Behavior to Source Alpha

    Behavioral biases influence even the most expert investors, and often create a predictable pattern of how future company expectations could evolve.

     

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  • Defining Alpha...It's Skill Not Excess Return

    Alpha vs Excess Return

    Alpha may be a common investment term, but it remains commonly misunderstood. Market observers often define alpha simply as a fund’s outperformance relative to a benchmark. This misconception is not only incorrect, but ignores what alpha truly identifies: manager skill.

     

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  • The New Core Allocation:
    Long/Short Equity

    Core Allocation Long Short Equity

    With equity valuations at elevated levels, subdued economic growth due to changing demographics and stubbornly low productivity gains, as well as a bleak outlook for fixed income, advisors are challenged to rethink foundational portfolio elements of investor portfolios—which means seeking out strategies that bolster the core going forward.

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