Investing When There’s No Playbook: 5 Questions to Assess the COVID-19 Market Environment
As the repercussions of COVID-19 evolve, many investors have come to terms with the fact that there is simply no normal playbook for a market defined by a pandemic. With that in mind, Doug Cohen, managing director, portfolio management, delves into the broad parameters of five questions that are particularly pertinent, including the timeline for a medical breakthrough, emergence of a new paradigm, and the market and Fed’s place in economic recovery.
In Search of Quality-Compounder Companies in the Asian Equity Markets
US equity multiples are at historically elevated levels. With the S&P 500's impressive 30% return in 2019, a majority of that return derived from multiple expansion. As global investors, the Athena Research team wondered whether there might be a market where the potential for shareholder value creation is comparable to that of the US, but with more favorable valuations?
Part I: Record Economic Expansion and Reduced Recession Indicators Drive Consensus Views for 2020
Doug Cohen, managing director, portfolio management introduces us to consensus views for 2020 that prolong the longest US economic expansion on record extending into its 12th year. New year consensuses favor dwindling recession indicators and stabilized credit conditions. In Part I of his observations, Doug also shares his take on the Fed, election odds, and investor sentiments around the bull market.
Politics and Lingering Uncertainties Drive 2020 Market Outlook
As the closing bell of 4Q19 draws nearer, Doug Cohen, managing director, portfolio management, reflects on the current and upcoming political climate that will impact the 2020 markets. Doug considers investors' political reactions, evaluates wins and losses, and looks ahead at the market narrative to come.