Michael takes a close look at the question of rising committed and unspent capital in private equity, and implications for investors.
Explores how institutional investors should reconfigure portfolio allocations/strategies in a world of low returns.
Michael Cembalest analyzes the performance of over 6,700 domestic and international active equity managers, and discusses the challenges they face outperforming at a time of markets distorted by quantitative easing.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Armageddonists and the portfolio cost of fear, 2010-2019
An update from the front lines of the Trade War, with a focus on implications for investors
Eye on the Market: The Verdict
Michael discusses US-China trade war in context, the outlook for prescription drug price legislation, and an updated ideological scorecard for 2020 Presidential candidates.
Michael discusses how short covering, rather than real money, has driven the fastest recovery on record following a bear market, and looks ahead at slowing earnings growth.
For the first time in 20 years, markets will have to survive without support from central banks.