Stock Market and Sector Analysis: Upwards, then Upwards Again!

Studying the stock market

Called a voting machine by some investors and viewed as a driver of wealth by others, perhaps the truth about the stock market lies between these seemingly opposing views. Great thinkers have always admired the way of the middle when looking at the world, as it helps one navigate excesses. This selection of insights provides investors with perspectives on today's changing macro landscape, helping identify the middle way through risks to reach the right opportunities.

New Insights on Stocks for the Long Run (CFA Institute Research & Policy Center)

New research by Santa Clara University Professor Emeritus Edward McQuarrie challenges the long-held belief in the superiority of equities over bonds. What does the data say?

The EV Transition: Long-Term Outcomes and Short-Term Uncertainties (MetLife IM)

The future of the EV industry is increasingly uncertain. However, fundamental forces underpinning its growth remain intact.

The Best Versus the Rest: Performance of Regional Equity Markets (LGIM)

For compliance reasons, this paper is NOT accessible in the United States and Canada

This article seeks to answer one critical question for equity investors: "How often might we expect that kind of outperformance of one region?"

Stock Market Concentration: How Much Is Too Much? (Morgan Stanley IM)

In the decade ended in 2023, the concentration of the U.S. stock market, measured as the weighting of the top 10 stocks, nearly doubled from 14% to 27%.

Stock Market Sectors Update - May 2024 (JPM AM)

Ongoing investor optimism about the economic outlook supported risk assets, with developed market stocks delivering returns of 4.5% in May.

Flabert's Riddle on U.S. Equity Market Valuations (Invesco)

Recent data shows that the outperformance and decoupling of U.S. equities is evident and shows little sign of coming to an end.

Equity Return Expectations and Portfolios (The Review of Financial Studies)

The authors of this paper revisit the relationships between subjective equity premium expectations, valuations, and financial portfolios.

Navigating Soccer’s Financial Field (Gabelli Funds)

Entertainment is a big sector, and soccer is one of the biggest drivers of revenues. This paper looks at the soccer industry from an investment perspective.

Microcap Equities (Meketa)

Concrete definitions of microcap stocks vary, and different sources use different guidelines to define the asset class.

IRR: The Inappropriate Return Ratio (CAIA blog)

This blog piece takes a closer look at the IRR metric and asks the question: how accurate (and thus relevant) is this metric?