The FM Report

Burdened by too much debt and growing societal frustration, the global economy is faced with stark choices, including fiscal austerity and rising defaults. But what if we took a page out of Henry Ford’s playbook, creating a highly paid, highly trained workforce to help usher in a new era of inclusive growth?

It has been ten years since the crash that shook the foundations of modern capitalism. Like the Great Depression of 1929 before it, the Global Financial Crisis revealed the failings of entire economic and political system and the weaknesses in public finances and monetary policy. The crisis led to an essential review of financial regulation and ultimately became a watershed moment.

Over the last 25 years, Exchange Traded Funds (ETFs) have grown in popularity. But many people are still not exactly sure of what they are, believing they can just buy a Global Equity ETF or a North American ETF. But the reality is, there are thousands of different ETFs to choose from and even two that look the same may be very different.

There is a strong rationale for considering tangible equity when assessing corporate balance sheets. For Western companies, particularly those in the US, the ‘safety net’ of tangible assets has noticeably shrunk in recent years while net debt has increased rapidly; This development carries risks and seems unsustainable.

On the surface, value investing seems simple: it’s about choosing stocks that are trading for less than their “intrinsic” or true value. After all, who wouldn’t agree to a deal where one pays less than the market price? Bargains are good! That’s why Value has become one of the most popular philosophical approaches to active […]

In less than a generation, emerging markets and developing economies have gone from being producers of goods and trading hubs for developed countries, to becoming an important destination for consumer goods and services in their own right. They now account for nearly 80 percent of global economic growth, and 85 percent of growth in global […]

Markets appear to be having a bit of difficulty navigating the end of QE; as the Fed balance sheet starts to shrink, non-US markets in particular are feeling the strain.