Price is what you pay, value is what you get . . .
Guest contributor – Jean-Paul Jaegers, CFA, CQF (Senior Investment Strategist, Prudential Portfolio Management Group)
… however, what is often less debated is the impact that time can have on these variables.
This is relevant as investors’ holding periods have generally shortened and as a result the variables that influence the… Read the article
Small-cap ‘haves’ and ‘have nots’
Most investors are aware that the post-referendum UK equity market rally has not treated all stocks or sectors equally. Since 23 June, for example, the mining sector is up (+38.6%) to date, while retail stocks are down (-8.4%).
In the small-cap space, much of the recent focus post-Brexit has been… Read the article
Many investors are rightfully sceptical of executive share-based compensation, particularly in the US. But the debate is typically around the adjustments made to companies’ declared earnings or the very large payments that can result, rather than a view of the absolute level of dilution and how this should change over… Read the article
Brexit – the biggest spin-off of all time?
The thought of a ‘Brexit’ conjures up images of a drawn out, messy divorce for most – a painful process, with a net negative result. However, I believe that there are reasons to be hopeful. I think a positive analogy can be drawn between the spin-off of a company from… Read the article
As the presidential race enters the final lap, rhetoric around political drug pricing remains high and the pharmaceutical and biotech sectors are lagging the broader market year-to-date. However, in my opinion, US political drug pricing fears are overstated and investors should be more concerned about commercial drug price and market… Read the article
Pensions: unrealistic assumptions for tomorrow cause real pain today
Pensions are long-term obligations. Falling interest rates have affected both the way that companies calculate the size of these liabilities, but also the assumed growth rates of the assets that they hold in order to pay those pensions.
What is quite extraordinary in my view is that QE, which now… Read the article
European markets are facing a number of challenges, not least in the region’s banking sector as recent events highlighted. However, European equities are attractively valued and there are signs of an improving economic backdrop.
In the latest in our regular video series on the equities markets, Investment Director, Ritu Vohora… Watch the video
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OKWelcome to the M&G Multi Asset Team’s Allocation blog, previously known as the Episode blog. We have changed the name of our blog to resonate better with our readers in Europe, however, the content and purpose of the blog has not changed. The Allocation blog continues to aim to provide unique market perspectives from our dedicated team of experienced asset allocators.
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