View PDF | Print Version​There has been a long-standing belief that the small-cap universe offers greater opportunity for active management to add value relative to a capitalization weighted benchmark than is the case for the large-cap universe. We compare the alpha...

View PDF | Print Version“Russia is a riddle wrapped in a mystery inside an enigma” - Winston Churchill This is now the fifth time Russia has become ‘uninvestable’ in our careers, so we have plenty of experience in seismic shocks such as these. The way to successfully...

Sino-pessimism is easy to find these days, perhaps with good reason. China spent 2021 cracking down on its most lucrative businesses, shuttering entire for-profit sectors, seeing several large property companies teeter on the edge of bankruptcy, suffer energy shortages, constrain the economy under an ongoing zero-Covid policy.

As we contemplate fixed income markets in 2021 and what is in store for 2022, it seems clear an inflection point is upon us. We have spent a large amount of the past few commentaries discussing inflation and the implications …

US equities were higher in 2021 with the S&P 500 up for a third straight year. There were a number of big themes in focus during the year. Covid vaccinations formed a key piece of the bullish narrative, particularly over the first several months of the year.