Taper

 

7.10.13

Taper

Never mind the taper. A comparison of historical and current fundamentals suggests investors are overly apprehensive regarding the Fed's taper of quantitative easing.  

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Richard Bernstein on Morningstar

6.13.13

Morningstar - Going for Growth in U.S. Equities

Investors' real-return expectations are too high for foreign stocks and too low for U.S. stocks, especially for small- and mid-cap names, says Richard Bernstein, CEO of Richard Bernstein Advisors.

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Financial Times-Forget EMs, US investors should think local

 

5.14.13

Financial Times - Forget EMs, US investors should think local

The consensus in the US is that investors should focus on large-cap, multinational companies that offer exposure to global growth. Few have noticed the secular shift in performance that is under way in which smaller, more domestically focused companies are outperforming.

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The REAL Great Rotation

 

6.4.13

The REAL Great Rotation

The phrase "Great Rotation" has come to mean a sizeable shift in asset allocations from bonds to stocks. We, too, believe that stocks are likely to secularly outperform bonds, but we don't think that is the "great rotation" about which investors should be concerned.  

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The Dollar isn't the Peso anymore

 

5.10.13

The Dollar isn't the Peso anymore

Many years ago, we wrote a report called "The US Peso". At the time, investors were generally quite bullish on the US dollar based on the strength of the funds flows into the US to buy technology stocks and the advantages a strong dollar offered US consumers. We felt that such euphoria was misplaced, and that the US dollar was likely to weaken over the ensuing years.

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