Building durable portfolios in uncertain times
http://ngam.natixis.com/docs/123/456/December_1.pdfDramatic market swings have become common occurrences in the past three years. With many weighty issues such as euro-zone sovereign debt and U.S. unemployment far from being resolved, volatility could be around for awhile. So how can investors construct portfolios that will endure and keep them on track of long-term goals?
Five portfolio managers from across the Natixis Global Asset Management group who take varying investment approaches – from alternative to unconventional to traditional – discuss the strategies they incorporate to add durability and position portfolios for long-term results.
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Global Markets in 2012
http://ngam.natixis.com/docs/123/456/January_4,0.pdfInvestors may flip the calendar to a new year on January 1, but the market environment may feel as in flux as it was in 2011 for some time. Not only are there major unresolved issues, such as the European debt crisis and slow growth in developed nations, but 2012 is an election year for many large countries on just about every continent.
So where might the bright spots for investors be? And what challenges should we be aware of? Investment professionals from across the Natixis Global Asset Management group, and with different asset class expertise, share their insight on investing in 2012.
Comments
http://www.roycefunds.com/News/Commentary/2011/1215-david-nadel-looks-back-on-2011-global-market.asp
A Look Back at 2011’s Global Market and a Bullish Outlook for 2012
"We don't see default as a major risk factor, but more as a potential cleansing event. After Brazil defaulted on its sovereign debt in 1983, its stock market roared back in the next two years. The Bovespa surged about 125% per year.1 Think also about Mexico in the two years after its 1982 sovereign default: The Bolsa rose 115% a year.1 Russia had a similar bull run after its 1998 sovereign default, up 116% per year for two years.1 Similarly, today, the Greek market has lost 90% of its value in four years, with the Greek stock market's aggregate market cap at just 14% of the country's GDP. However, history shows that sovereign defaults are far from the end; they are often a new beginning for stock investors. In fact, we've got our "shopping list" of Greek and other PIIGS equities at the ready should defaults materialize. We'll be buying while many others hide. Our portfolios currently have very little invested in 'PIIGS' companies, but we're watching that situation carefully for opportunities."