Is there opportunity in small-cap banks?
As profitability rebounded from the financial crisis and return on assets improved in 2012 and 2013, the banking industry once again began to outperform. We continue to see growth in commercial and...
View ArticleGlobal asset allocation outlook (October 2014)
There were no changes from the previous month. Source: Columbia Management Investment Advisers, LLC. The chart reflects the views of the Global Asset Allocation team as of October 17, 2014. Asset...
View ArticleQ&A with Jeff Knight
Q: What indications did you observe that pointed to the recent market volatility storm? A: In our adaptive risk allocation framework, one of the key first level characterizations we make on markets is...
View ArticleAsia’s emerging markets – Room to run
As emerging markets investors, we like Asia because of its strong reform momentum and the depth of its stock market. Rising interest rates will be good for exports and Asia’s earnings story....
View ArticleRamifications of Republican romp
Republicans exceeded expectations across the board, gaining control of the Senate and picking up significant net new seats in the House as well as in state capitols. We aren’t expecting the GOP to...
View ArticleBuilding better portfolios in a low return world
The near-zero interest rate environment has been a support for the financial markets, but as the economy normalizes so will interest rates. While we expect the bull market in equities to continue,...
View ArticleEmerging market equities — Still a world of opportunity
Despite a disappointing last five years, the structural growth drivers that have long made emerging markets an attractive area in which to invest are as compelling as ever. While emerging markets may...
View ArticleDigging deeper for market valuations
When discounted for index composition, U.S. equities are not trading at a significant premium to Europe. One can draw some very misleading conclusions about any disparate group by only looking at the...
View ArticleOil at $70 — How will the markets rebalance?
Lower oil prices should translate into higher demand as a result of cheaper petroleum prices and through higher global GDP growth, which in turn drives oil demand. While there are several factors that...
View Article2015 Outlook — Same song, slightly different arrangement
We are as convinced as ever that equities have a significant advantage over other asset classes based on valuation. Managing the risk of simultaneous drawdown across asset classes requires a process...
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