"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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Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015.
Investor Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees [more]
North Carolina workers call on state pension to dump up to $6bn in hedge funds
From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest [more]
Limited partners of investment managers may be subject to self-employment taxes
On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments' [more]
Adviser's faith in hedge funds unshaken by CalPERS' move
From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali