- Home
- Shifts & Narratives #1 - Do not give up on fundamental valuations
Shifts & Narratives #1 - Do not give up on fundamental valuations
Friday 09 April 2021
Research / Market
Today, most investors are at a loss regarding what to think of the notion of value and valuations and, even most importantly, how to use it in portfolio construction. We are at the start of a sort of crisis in confidence regarding valuations (and therefore also fundamentals, as they are interlinked) because few to no valuation indicators seem to be effectively working and irrational forces are perceived to be taking a prominent role in driving financial markets. There is a great disconnect between financial markets and the real economy...
Other news
09/04/2021
Research / Market
ECB QE Monitor - April 2021
The Eurosystem started its QE in March 2015.
02/04/2021
Research / Market
Dollar: short-term bull, medium-term dull?
As the global economy recovers from its worst economic slump since the 1930s, any investment decision will hinge critically on the evolution of the dollar. In the medium to long term, the extra-sized US fiscal stimulus will provide downward pressure to the dollar.
29/03/2021
Research / Market
European equity value has further to go in this cycle
Initiated in April based on a cheap quality cyclical stock rebound, the value rotation in Europe has accelerated, favouring deep value names – the segment most impacted by the Covid-19 crisis – in early November, after the announcement of the development of an effective vaccine. Since the beginning of this year, we are in the third stage, led by financials and banks in particular, supported by higher rates and inflation expectations. This means that the rotation is broadening.