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GMO abandons all hope, almost

GMO has released its latest borderline-apocalyptic seven-year forecast for stocks and bonds as it warns clients to “concentrate assets where the bubble ain’t”. GMO’s extraordinarily bearish forecasts predict a negative annual real return over seven years across the majority of both stocks and bonds, with only emerging markets value stocks getting a positive, if slim,…

Lachlan Maddock | 25th Jun 2021 | More
History rhymes: GMO defends gloomy views

GMO has hit back at critics of its bearish seven-year forecasts, saying “great companies with great narratives can still experience price movements that are too great”. GMO compared asset class forecasts from the seven-year period leading up to March 2000 with forecasts from 2014 onwards, noting that asset prices have both grown around 70 per…

Lachlan Maddock | 11th Jun 2021 | More
Benchmark blip reboots index debate

Index operators could face tighter regulatory controls in the US after a major provider copped a multi-million dollar fine last week. In a settlement announced last Monday (May 17), the Securities and Exchange Commission (SEC) fined S&P Dow Jones Indices (S&P DJI) US$9 million (A$11.6 million), alleging a hidden feature in one of the firm’s…

David Chaplin | 21st May 2021 | More
  • Second big quarter in value rotation

    Value managers are hopeful that, following the second consecutive quarter of the factor’s outperformance, their world has returned to normal. Value may well be back. For the March quarter, for Australian shares, the S&P/ASX 200 value factor index was up 8.50 per cent, making a 12-month return of 42.71 per cent. The S&P/ASX 200 growth…

    Greg Bright | 9th Apr 2021 | More
    SSGA to push big firms on ESG, stays mum on merger

    State Street Global Advisors will sharpen its ESG efforts on climate change and corporate racial diversity in 2021, adopting a more activist approach with investee companies. In a letter to major global corporations this month (January 11), Cyrus Taraporevala, SSGA chief, says the US$3.1 trillion manager will use its financial clout to pressure companies to…

    David Chaplin and Greg Bright | 15th Jan 2021 | More
    Market update; ASX struggles higher

    ASX struggles higher, rates on hold, giant gold merger, US stocks fall The ASX 200 (ASX:XJO) struggled to a 0.3% gain on Tuesday, the energy, +2.3%, and materials sector, +1.1%, the key contributors. The biggest news was the ‘merger of equals’ between Australian gold miners Saracen Minerals (ASX:SAR) and Northern Star Mining (ASX:NST). The merger…

    Drew Meredith | 6th Oct 2020 | More
  • Winning in a “K-Shaped” Recovery

    The S&P 500 Index reached a historic high on February 19th of this year, only to break that record less than six months later. On its face this sounds reasonable, however when considering the unprecedented nature of the events that transpired in-between, this is downright shocking. Over this six-month period the S&P 500 realised its…

    Staff Writer | 28th Sep 2020 | More
    If you can’t beat them, buy them

    While the active versus passive debate rolls on, and on, across the investment world, some active managers have gone to the ‘dark side’, at least partially, by adding more quantitative inputs for new strategies, such as thematic investing. The concept of ‘thematic’ investing, which describes the strategy of identifying sectors of the economy expected to…

    Drew Meredith | 25th Sep 2020 | More
  • ASX update; second wave hits Europe

    Financials, miners hit as the second wave hits Europe, RBA guidance, strong open ahead The ASX 200 (ASX:XJO) fell to a three month low on Tuesday, down 0.7%. The sustained sell off has been driven by signs of a second wave engulfing Europe and the potential for another round of economic restrictions. Materials (-0.2%) was…

    Drew Meredith | 22nd Sep 2020 | More
    ASX shares update; Trump bans WeChat

    ASX 200 ekes out a gain, tech profit taking continues, Trump bans WeChat Global markets continued their negative trend on Friday, the ASX 200 (ASX:XJO) falling 0.3%, but managing to finish the week up a solitary 5 points; outperforming most global markets. It was a similar story in the US, with both the Nasdaq and…

    Drew Meredith | 21st Sep 2020 | More