Insights
The Forgotten Financials
NBR Articles, Published 10th November 2020
Many investors and fund managers avoid financial companies such as banks and insurers. This may not be a good move – the market pricing of these companies means that investors could do well even if the banks and insurers continue to earn poor returns on capital...
Read MoreHow Passive Decisions Affect Investment Markets
NBR Articles, Published 6th October 2020
If ETFs and other passive funds spread their funds evenly across markets, they wouldn't affect market pricing. However, these funds are not spread evenly, which means that passive funds are distorting market prices...
Read MorePremium On Growth Stocks Echoes Dotcom Boom
NBR Articles, Published 1st September 2020
The premium that investors have to pay to invest in growth companies is the highest its been since the dotcom boom. To achieve good returns over the next several decades, a number of today’s darlings (e.g., Nvidia, salesforce.com, Tesla) would need to grow to the point that they become even more dominant than Microsoft and Apple are today. While some companies may achieve this, many will disappoint...
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