2021 Outlook: Can Asian Equities Lead the Way to a Global Recovery?
As an unusually extraordinary year comes to a close, investors may still have many lingering questions about where the global economy may be headed. Even as the world continues to fight the pandemic, there is reason for optimism in 2021. The strength of Asia’s economies—and China in particular—are recovering and are well-positioned to set the stage for future growth.
Attractive Equity Investment Opportunities in a post-COVID Environment
Where are the most attractive investment opportunities in U.S. equity markets going into 2021?
In this webinar, Alan Langsner and Matt Kelley will outline underlying trends significantly impacting the U.S. equity market in 2020, including the disparity of growth versus value and the outsized contribution from the Information Technology and Communication Services sectors. In addition, Alan and Matt will discuss attractive investment opportunities that Sirios has found in 2020 and how Sirios and its 21-year history of fundamental, bottom-up, long-short investing fits into a portfolio. The webinar will cover:
- Disparity of returns in growth versus value in the U.S. equity market this year
- The impact of the Information Technology and Communication Services sectors on investors’ performance in 2020, and influence of other sectors on performance
- Where has Sirios found compelling new investment opportunities?
- How does Sirios fit into a portfolio?
- How can skilled shorting add value to portfolios?
The presenters will be available after the presentation to answer attendees' questions live.
Tesla’s S&P 500 Entry Puts $70 Billion of Passive Trades in Play
Tesla Inc. climbed on Tuesday as investors braced for the company’s addition to the S&P 500 in one shot on Dec. 21, a move that’s expected to spur as much as $70 billion worth of passive-fund flows.
Regression to Trend: Another Look at Long-Term Market Performance
Quick take: At the end of November the inflation-adjusted S&P 500 index price was 144% above its long-term trend, up from 135% the previous month.
About the only certainty in the stock market is that, over the long haul, over performance turns into underperformance and vice versa. Is there a pattern to this movement? Let's apply some simple regression analysis to the question.
Absolute Return Letter - December 2020
Zombies are firms that are neither dead or alive. They are in so much debt that virtually all their free cash is used to service their debt, and that is very damaging to GDP growth. This month, we explain why there are more and more zombies all over the world, and why they do immense damage to the global economy.
How Much Debt Is Too Much?
The new conventional wisdom in these unconventional times is that advanced-economy governments can take advantage of today's ultra-low interest rates to borrow and spend without limit in order to support the economy. But the fact is that there is always a limit, and it may come into view sooner than many realize.
Making Sense of Sky-High Stock Prices
Many have been puzzled that the world’s stock markets haven’t collapsed in the face of the COVID-19 pandemic and the economic downturn it has wrought. But with interest rates low and likely to stay there, equities will continue to look attractive, particularly when compared to bonds.
Markit Manufacturing Continues Improvement in November
The November US Manufacturing Purchasing Managers' Index conducted by Markit came in at 56.7, up 1.8 from the 53.4 final October figure. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.