Global Perspectives

  • Portfolio Allocation Amid the Tidal Effects of Renewed Fed Easing

    The Fed is poised to join the global easing bandwagon, fueling a surge in risk asset prices. As market distortions from easy money grow, so does the importance of security selection and portfolio allocation.

  • The Perils of Inflexible, Formulaic Investing

    As downward pressure on negative bond yields builds, a flexible approach helps in the search for attractive, relative values.

  • Dollar Headwind to Emerging Markets Equities Lifting, Though Trade Dispute Still Drags

    After a turbulent May, China and emerging markets appear poised to resume their ascent from the first quarter, even as trade-related air pockets remain likely.

Parsing Long/Short Equity Liquid Alts Performance, Fees and Net Exposures

Investors interested in long/short equity mutual funds would be well advised to consider more than their much-more competitive fees vs. private hedge fund peers. To genuinely hedge the long components of a portfolio, look for lower net long exposures in a long/short equity allocation, and added value on the short side even in rising equity markets.

Guess What Delivered in Spades in Thornburg’s Internal 2017 Global 3 Stock/Security Competition?

At the beginning of every year, a number of investment professionals at Thornburg voluntarily place their informal, internal-only bets on which three securities—from stocks to currencies or other financial assets—might together produce the best beta-adjusted returns in the year ahead. In 2017, the winner was Sean Sun, whose three picks included bitcoin. The cryptocurrency skyrocketed last year, of course, helping Sean win the prizeless competition by a wide margin.

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