James Anderson has spent decades capitalising on the market’s short-term focus by buying traditionally “expensive” stocks with incredible upside potential. Here we take a page out of his investment playbook.
During periods of uncertainty, investors often default to first-order thinking and overweight what’s next. In these environments, attractive opportunities can be found by remaining focused on what a business is worth.
Investment returns, in the long run, are dictated by two factors: earnings growth and changes in the earnings multiple. Many high-flying businesses today are trading at exorbitant multiples. What are the implications of this for long-run annual returns for those stocks?
Value investor Connor Leonard successfully filters business opportunities into four subsets. We explore Reinvestment Moats – entrenched flywheels where management can redeploy capital at high incremental rates of return.
An exploration of the structural drivers causing Insurance providers to abandon their legacy liabilities and why we expect to see many more alternative asset manager transactions.
The vision for the Metaverse is that humans will increasingly live in a growing collection of spaces – both physical and digital – that mesh together seamlessly. Similarly, our social lives will increasingly span the physical and real-time 3D digital realms, as will our economy.
A new phenomenon emerged in the credit market in early December, real-yields on investment-grade bonds turned negative for the first time in history. The setup will likely skew incentives for corporations in managing their capital structures.
Inequality creates winners and losers. And there are key steps that investors can take to be on the right side of these changes – to not only protect their portfolios from growing inequality, but also generate strong investment returns into the future.
Our analysis leads us to believe that the forces driving low economic growth, increased indebtedness, low interest rates and asset inflation will only strengthen in a post COVID-19 world.
Contrary to popular mythology, technological disruption very rarely happens in a singular flash of brilliance. The image of a disheveled, genius tech founder, manically coding a brilliant new idea in a garage, has a disruptive vision, and lays waste to incumbent operators is a romantic notion. But unfortunately, it’s rarely true.
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