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📑 Research Notes for 2021-03-15
This week, we look at how emerging markets will benefit from a U.S. infrastructure plan, small caps vs. value stocks, climbing treasury yields and the effect on equity valuations.
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Emerging Markets to Benefit From U.S. Infrastructure Plan.
Mark Mobius, founder of Mobius Capital Partners, says emerging markets would benefit from a U.S. infrastructure plan. He also says the dollar probably won't get any weaker from here.
The Small Cap Comeback is More Impressive than the Value Comeback.
If you look across the value ETF landscape, you will see many similar examples of market beating returns since the market bottomed. So it seems like it would be obvious to conclude that value investing is back, right? After all, how could value funds produce these kinds of returns without a significant tailwind from the value factor itself? But as is often the case in investing, the reality behind the scenes is a little more complicated than the way things appear on the surface.
How Do Climbing Yields Impact Equity Valuations?
Yields on the benchmark 10-year Treasury have experienced a rapid rise since the start of the year. Though low by historical standards, it’s been enough to cause some pain in many sectors of the market. What does a continuous increase in Treasury yields mean for equity valuations?
Credit Suisse Global Investment Yearbook Is Updated.
In the Yearbook, renowned financial historians Professor Elroy Dimson, Professor Paul Marsh and Dr. Mike Staunton assess the returns and risks from investing in equities, bonds, cash, currencies and factors in 23 countries and in five different composite indexes since 1900.
Curated by Joseph Lu, CFA®
Joseph has over a decade of experience as an investment professional, primarily in quantitative analysis and portfolio management roles. He is the founder and managing director of Conscious Capital Advisors and a CFA® Charterholder. The CFA charter is a globally respected, graduate-level investment credential by the CFA Institute, a global association of more than 90,000 investment professionals working in over 133 countries.
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