Finding Value in Australian Equities
Investors in Australia have piled into defensive stocks since 2010, amid a global flight to safety. As a result, many cyclical companies are now unusually cheap, despite strong balance sheets and cash...
View ArticleValue Investing and the Philosopher’s Stone
Kevin Simms and Joseph G. Paul When J.K. Rowling finished her first manuscript of Harry Potter and the Philosopher’s Stone in 1995, she submitted it to 12 publishers, who all rejected the book. In...
View ArticleEquity Market Distortions Create Big Payback Potential
Joseph G. Paul (pictured) and Kevin Simms Even after this year’s equities rally, market imbalances created by the financial crisis in 2008 have not disappeared. When these distortions unwind, we expect...
View ArticleDoes Behavioral Investing Make Sense Anymore?
Kevin Simms (pictured) and Joseph G. Paul Value investing has faced a crisis of confidence after five tough years. Here’s why we think the behavioral investing principles that underpin the discipline...
View ArticleFinding Healthy Stocks in Europe’s Troubled Landscape
European equity markets continue to face severe stress as the continent struggles to contain fallout from the sovereign-debt crisis. Yet this seemingly toxic environment is creating some exceptional...
View ArticleSector Distortions Can Be Costly in Passive Investing
Joseph G. Paul (pictured) and Kevin Simms Passive investing strategies that emulate an index have become increasingly popular. But passive investing can go awry when sector concentrations leave...
View ArticleGetting Back into Value Equities
It finally feels like a great time to be a value investor again. After several challenging years, market conditions have become much more conducive to finding undervalued, controversial stocks with...
View ArticleValue Stocks Beckon in Emerging Markets
Henry D’Auria (pictured) and Morgan Harting Years of playing defense have left many emerging-market (EM) equity portfolios laden with pricey safe-haven stocks. We think they risk missing the big...
View ArticleDon’t Pull the Plug on US Stocks
Investors are wondering whether the bull run in US equities is over. With the economy gathering steam and interest rates likely to head higher, we think stocks are still the best game in town—and value...
View ArticleWallflower Value Stocks Are Ready to Dance
Global equities are notching new highs, valuations are elevated and talk of market bubbles is increasingly common. Yet, by our measure, the potential for outperformance in value stocks has rarely been...
View ArticleThe New Logic of M&A
There seems to be a new calculus at work in the recent rash of takeovers, as investors set aside their usual wariness of deals and dealmakers for the promise of growth these combinations may bring. We...
View ArticleCAPE Fears Miss the Point
With the recent wobbles in the market, scary headlines about stock bubbles are back in the spotlight. We think all this foreboding overlooks an important point: In today’s low-return world, where...
View ArticleAustralian Value Returns to Form
Investors in Australia have been wary of undervalued, risky stocks in recent years. But today, market conditions have improved and many attractively valued companies have strong balance sheets, which...
View ArticleAre Markets More Rational in the Information Age?
Kevin Simms and Joseph G. Paul With so much information available to investors today, you might think that markets have become more rational. Think again. Equity markets are as emotional as ever—and...
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