Embracing volatility

The abrupt reversal of equity markets in the last few weeks has sent shivers down investors’ spines, particularly as momentum was the dominant factor behind the rally that preceded it. Time to panic? On the contrary, history shows that buying into short-term weakness has been a fruitful strategy for long-term… Read the article

Like the ghost in Charles Dickens’s “A Christmas Carol,” recent price action in Japanese equity markets has been an unwelcome echo of the past. Outperformance of stocks with more stable earnings streams has resembled the market dynamics that provided a headwind to value investors in the decade after the financial… Read the article