Posts Categorized: Global Market Strategy

Updating the Global Equity Strategy Investment Clock

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An Increasingly Cautious Near-Term Equity Outlook — Plotting our sector and regional equity recommendations on the face of an “investment clock” suggests an increasingly cautious near-term outlook for global equities. A Tilt Away from Cyclical Sectors and Regions — Last month, we tilted further from cyclical sectors and regions. As for sectors, we are underweight Energy and Materials, neutral Industrials. In terms of regions, we are underweight CEEMEA and Latin America.

Japan’s New Corporate Codes – Studying the Impact on Valuations

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Corporate governance represents the relationship among various corporate stakeholders that determines the strategic direction of a company. Practically, corporate governance adjudicates the balance among key stakeholder interests within the firm. Japan is unveiling a new corporate governance code for companies …

Environmental Issues & Country Valuations: What Matters?

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What Matters? — Some environmental issues that are the subject of popular focus — such as carbon dioxide emissions — do not appear to be statistically significant for global investors. Moreover, many countries’ environmental “health” has moved in the opposite direction of their economic development i.e., more pollution and higher per capita GDP.

Corporate Social Strategies, Investment Decision Making and Income Inequality

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In our recent report, “Income Inequality: Market Mechanism or Market Failure?” we argue that unequal incomes are a normal feature of a free market economy. It is the extent of this inequality, coupled with stagnating wages and persisting poverty, which led us to focus on this topic. Why We Chose to Write on Income Inequality… Read more »

Introducing the Global Equity Strategy Investment Clock

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Developing a multi-class asset allocation model — that also incorporates Environmental, Social and Governance (ESG) factors — is a lofty undertaking. In this report, we take a first step by introducing our global equity strategy “investment clock”, which helps flesh out the equity outlook implied by our sector and regional recommendations….