Strategy Outlook Third Quarter 2016

Our Global Investment Strategy service recently published their Q3 Strategy Outlook, which discusses the major investment themes and views we see playing out for the rest of the year. Key take aways from this quarterly report include: Global … [More.]

BREXIT – Next Steps

Investors trying to make sense of the post-Brexit political environment should adopt a simple maxim: the only certainty is uncertainty. No amount of poring over EU Treaties, U.K. legislative acts, or ancient Celtic runes will bring clarity on whether … [More.]

Policy Uncertainty And Global Equities

Rising global policy uncertainty should lead to lower equity multiples. There is no doubt that policy uncertainty in Europe has risen since last week's U.K. referendum. The Global Policy Uncertainty Index, created by Baker, Bloom and Davis, is … [More.]

Timely Reminders Of Sterling’s Bearish Fundamentals

The surprise Brexit vote last week dealt a severe blow to sterling. Beyond the vote, the fundamentals remain negative for the British pound. Timely reminders came today from the BoE governor and the Q1 current account release. Even before the … [More.]

The Coming EXITentialist Crisis

British voters decided to leave the European Union on June 23, potentially ending 43 years of membership. At BCA Research, our investment philosophy is that, at critical junctures such as this one, it makes sense to take a cold shower and resist … [More.]