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  • Brace for sub-zero returns

    Brace for sub-zero returns

    Most asset classes will provide investors with negative real returns going forward, according to US asset manager GMO. There’s just one exception to this rule.

  • Beware of highly-leveraged US stocks

    Highly-leveraged US companies face a disproportionate rise in interest payments as the Fed has started hiking. But investors aren’t being compensated for this at all.

  • Don’t buy America!

    Investors who are buying into the Trump rally now are likely to be disappointed. Long-term return prospects for the asset class are severely impaired.

  • Falling discount rates – gain before the pain

    The ultra-loose monetary policy pursued by central banks since the financial crisis has implied an unprecedented fall in discount rates, which has led to a massive front-loading of returns: not only for bonds, but also for equities. Does this mean you should take your profit now and sell?