"This is a waiting game"
Radio Feature 68: James Montier in conversation with Sona Blessing
Wednesday, March 20, 2013
James Montier is a member of GMO's Asset Allocation team. Prior to joining GMO in 2009, he was co-head of Global Strategy at Société Généralé. He has authored several books including "Behavioural Investing: A Practitioner's Guide to Applying Behavioural Finance; Value Investing: Tools and Techniques for Intelligent Investment"; and "The Little Book of Behavioural Investing". James is a visiting fellow at the University of Durham and a fellow of the Royal Society of Arts.
In this podcast he talks us through amongst others why in many ways he thinks this is the most difficult opportunity set an investor can face ...
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"This is a waiting game"
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Asset allocation "when the Fed spikes the punch bowl".
Thoughts on the opportunity set within commodities?
Identifying investment opportunities now: where and which might they be?
What in your view are likely exogenous shock factors and what could be in the short term, some of the opportunities they would lead to?
What makes this particular investment environment so challenging?
The rationale for adjusting equity exposure allocations in the context of financial repression; and the role that dividend yields play in raising equity exposure.
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Big hedge funds win again on PetSmart, Riverbed
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Hedge fund manager who remembers 1998 rout says prepare for pain
From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s Opalesque Exclusive: U.S. legal receivables fund launched in August [more]
Benedicte Gravrand, Opalesque Geneva for New Managers:
Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c Comment - High fees and low performance hit hedge funds [more]
From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010 [more]
Lansdowne, Man Group, other hedge funds profit from shorts in oil
From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar