Month: March 2023

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View from the Edge

Gimme Credit

The consequence of recent events (SVB) meant that the market had to reconsider the discount rate being applied to future cash and the repricing meant the sector has come back to the Orange line – FV. A moment that we call ‘back to value’ – zero premium to present value so surely an opportunity to buy?

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General Portfolio Construction Smart Alpha

Factor facts

One of the most significant investment developments of recent years has been the emergence of factor-based investing as a mainstay of investment management.

Categories
View from the Edge

House of Cards

For years now we have been extolling the obvious virtue of knowing where value is at any point in time – looking at the expected returns and the discount rate being applied to those cash flows.