A session at this year's Morningstar Investment Conference, which took place on the 16th and 17th of September, titled "A High-Yield State of Mind," considered where investors could find income in the current market. Q2 2020 hedge fund letters, conferences and more The panelists included Bryan Krug of Artisan Funds, Harley...
As the likelihood of additional federal stimulus fades, U.S. stock investors are returning their focus to the coronavirus pandemic and not liking what they see. Q2 2020 hedge fund letters, conferences and more High-frequency data that tracks economic activity shows a slowdown in the recovery from the height of the lockdowns,...
A group of investors who correctly timed the stock market’s bottom in March isn’t bargain hunting yet during the current selloff. Instead, they’re stepping up sales, flashing an ominous signal to any dip buyers. Q2 2020 hedge fund letters, conferences and more StockSnap / Pixabay Corporate executives and officers at S&P 500...
In an E.W. Scripps press release yesterday, it was revealed that Berkshire Hathaway was planning to assist in the company’s $2.65 billion acquisition of ION Media: Q2 2020 hedge fund letters, conferences and more Berkshire Hathaway investment highlights Amount of preferred stock: $600 million Dividends: 8% per year if paid...
Invesco Ltd. is looking to active, nontransparent exchange-traded funds as the next step forward for the $4.6 trillion industry, hoping the new products will be less vulnerable to traders who exploit expected changes in ETF holdings. Q2 2020 hedge fund letters, conferences and more The Atlanta-based investment firm, which currently manages...
How do you avoid buying value traps? How do you avoid thinking Mr. Market isn’t as smart as he really is? Ask this simple question: Why is this stock being sold at this price? Q2 2020 hedge fund letters, conferences and more Markets are generally efficient the majority of the...
Will Danoff has been wondering why billions of dollars keep flowing out of the Contrafund, the giant mutual fund he manages at Fidelity Investments. Performance isn’t the problem. He’s up 21% this year, trouncing the S&P 500’s 6.2% return. His conclusion: Today’s kids want something sexier. Q2 2020 hedge fund...
August was generally a broadly positive month for the hedge fund industry, though there were pockets of large redemptions clouding the picture for strategies which otherwise would appear to be showing positive investor sentiment. Q2 2020 hedge fund letters, conferences and more Frankly, we did not expect to be writing a...
At present, the S&P 500 is priced to return 3.51%/year over the next ten years. Now if you were buying some ten-year investment grade corporate bonds, you might expect something around 2%. Is that 1.5% over corporates worth it? Q2 2020 hedge fund letters, conferences and more Truly, I don’t know....
Nathaniel August's Mangrove Partners is having a rough 2020. According to a copy of the hedge fund's August update, a copy of which ValueWalk has been able to review, for the year to August 5, Mangrove Funds have returned -38%. Over the trailing 12-month period, the funds returned -44%. The...
BlackRock CEO Laurence Fink spoke at Morningstar's recent conference, and he talked about a variety of things, like his concerns about company culture at a time when all the firm's employees are working at home. Despite those concerns, he doesn't think BlackRock will ever be 100% working in the...
The coronavirus pandemic and the response by governments and central banks have family offices and ultra-wealthy individuals around the world on the defensive, according to a survey from Citigroup Inc.’s private bank. Q2 2020 hedge fund letters, conferences and more Free-Photos / Pixabay[/caption About three-quarters of respondents described their 12-month investment...
The U.S. economy’s recovery from the virus-induced recession will get much harder, with more permanent job losses unless there’s additional fiscal support, Federal Reserve Bank of Atlanta President Raphael Bostic said. Q2 2020 hedge fund letters, conferences and more “I am going to keep talking about this because I think this...
During their recent episode of the VALUE: After Hours Podcast, Taylor, Brewster, and Carlisle discussed Credit To Michael Burry. Here’s an excerpt from the episode: Q2 2020 hedge fund letters, conferences and more Tobias: I think that Burry doesn’t get enough credit for his recent– Like, I think that’s what Burry was...
In the U.S. Navy in the 1950s, Dan Fuss learned a maxim he still finds useful to this day while navigating pandemic markets: “Don’t sail close to the reef unless you have to.” Q2 2020 hedge fund letters, conferences and more Shutterbug75 / Pixabay It’s why the legendary bond investor and former...
The debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be...
The fortunes of the world's hedge funds have continued to vary widely this year. While the industry as a whole recorded its best five-month performance since the financial crisis in the months to the end of August, the spread of returns has exploded. Q2 2020 hedge fund letters, conferences and...
September has been rather nasty (so far) not just in equities, but across the various asset classes purporting to provide diversification from such down turns. After today’s sell off, the S&P 500 is down around -9% for the month. Gold is off about -3%, Commodities down about -5%, and...
The negative impact of demographics on equities Q2 2020 hedge fund letters, conferences and more This research note was originally published by the CFA Institute’s Enterprising Investor blog. Here is the link. SUMMARY There is a negative relationship between aging populations and stock valuations Given that most developed markets are aging, this creates structural headwinds...
There’s no asset class too much money won’t spoil. ~Barton Biggs via A Hedge Fund Tale of Reach and Grasp Q2 2020 hedge fund letters, conferences and more Good morning! In this week’s Dirty Dozen [CHART PACK] we look at the latest Global Fund Manager Survey, talk some more about ALL the...
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. Q2 2020 hedge fund letters, conferences and more In the revised edition of The Incredible Shrinking Alpha, Larry Swedroe and Andrew Berkin make the case that investors are better off choosing passive investments because...
Investors underestimate the negative consequences of high environmental, social and governance (ESG) risks, and underreact to prior negative ESG events. High ESG risks destroy shareholder value. Q2 2020 hedge fund letters, conferences and more To appreciate the significance of this finding, consider that, over the past decade, there has been an...
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