Quarterly Commentary – Q2, 2019 – Blair Campbell of MitonOptimal Portfolio Management in Guernsey discusses the 2019-Q2 markets and portfolio performance and the quarter ahead.
When viewed within the context of other fixed income assets, Emerging Market Debt (EMD) has a great deal going for it: it’s a mature, diverse and liquid market offering cheap valuations, relatively low default rates and attractive yields. Moreover, despite perceptions to the contrary, economic fundamentals for many EM countries are meaningfully superior to the
Rewind to the 4th Quarter of last year when numerous commentators and analysts were calling an end to arguably the longest bull market in history – certainly since World War II – with major indices, such as the S&P quadrupling since the lows of 2009. Since the end of Q4, and as we approach the
One aspect of our multi-asset fund asset allocation that has historically taken up a lot of airtime during investment committee meetings is that of the ‘alternative’ sector, which can often be rather subjective in its interpretation and the subsequent merits about inclusion in the portfolios questioned. My own views are not necessarily representative of the
It is often said that the most dangerous words in investment are “This time it’s different”. Indeed, long-term economic and market cycles, the principle of mean reversion and the generally accepted tenet that, while history doesn’t necessarily repeat itself, it certainly rhymes, are all central to the philosophy of most asset managers. I can vividly
The unintended consequences of trade barriers. “Obviously it’s not meant to be taken literally; it refers to any manufacturers of dairy products” – Monty Python, Life of Brian As President Trump sets off trade clashes with countries across the world, traditional US business partners move towards retaliatory barriers to American goods. For US cheesemakers, the