Hints and tips:
Related Special Reports
...Presidio has long been a favourite with private equity firms. The company was bought by US buyout group American Securities in 2011 before Apollo agreed to acquire it in 2014....
...In the MSCI World Index, which covers developed markets only, the 10 heavyweights — which are all American companies — are now 21.7 per cent of total market capitalisation, helping drive the US share of...
...These are admittedly price returns, since no total return indices go back this far. But including dividends wouldn’t change the picture....
...The outsize returns of small companies relative to larger peers was documented in the early 1980s using evidence from the half-century to 1975. The idea found theoretical support....
...Dimson’s work on 20th century returns has long found US equity market performance to be exceptional....
...British American Tobacco shares have fallen by a quarter over the past year as it grapples with the uncertain long-term future of its traditional cigarette business and investors push for the return of share...
...Last year, for example, the S&P 500 gained 26 per cent on a total return basis — a couple of percentage points above basic price gains in the index....
...They have matched the total returns of Wall Street’s Magnificent Seven tech stocks since the start of 2021....
...We hope our fellow American eclipse-watchers emerged with spirits high and without fried corneas....
...Lower buffers should improve a bank’s return on tangible equity, a crucial determinant for bank valuations. Higher returns should mean improved valuations....
...Liontrust’s total assets under management fell more than a tenth over the year to £27.8bn....
...European football has become increasingly popular with US investors in recent years, with Americans now owning stakes in dozens of clubs....
...On most metrics the US economy is in late-cycle, a vantage point from which equity returns have historically been mediocre. Globalisation is in retreat today, while the 1990s saw it at its peak....
...Absent early repayment via massive tax rises, miraculous growth and/or default, “interest payments could total over $6.5tn by the 2050s”....
...Handler yesterday said that he had sold 1.5mn shares or about 7 per cent of his total holdings in Jefferies....
...This eats into investors’ returns and thus drives investment to more benign locations, potentially having a knock-on effect on valuations....
...Why does BHP want to own Anglo American? It doesn’t, it wants to own some of Anglo American, specifically the bits that don’t need fixing....
...Next, investors have shown themselves willing to pay more and more for American stocks relative to stocks from the rest of the world: Finally, American companies tend to be much larger than UK ones....
...C Shawn Booking agrees that private credit funds earn higher spreads and total yields because they’re providing speed, certainty of execution and cost of capital; privacy in terms of the borrower not needing...
...However, a review of its investment policy found that, despite the gains it had already missed, private equity was still the asset class with the highest expected long-term total return....
...Over time, we think US equities should continue on their upward path to drive healthy returns.”...
...Credit card companies are high-margin businesses, with returns on equity far above those elsewhere in the banking sector. Amex reported a 33 per cent fourth-quarter return on average common equity....
...I’m not seeing it in tobacco: The difference in returns here is amazing, and there is a leverage difference, too. Give me Altria over British American Tobacco all day....
...Investment trusts, a cornerstone of UK equity markets with roots stretching back more than a century, have seen a gap open up between their share prices and the value of the assets they hold while they battle...
...More than half a century later, in 1988, economists Robert Shiller and John Campbell investigated whether this approach could help predict aggregate stock market returns. They found that it could....
International Edition