State of Confusion
FACTORS INFLUENCING FINANCIAL MARKETS From our perspective there are two main factors influencing financial markets: 1) the seeming disconnect between market performance and economic reality and 2) the impact
Research Update – Walls of Worry
WALLS OF WORRY You can be excused for thinking that equity markets have gotten ahead of themselves. As of the close of trading on Monday June 8th, 2020, the
How Will The COVID-19 Experience Affect The Idea of Sustainability for Investors?
Investors can be forgiven for being a little confused as to exactly what “sustainability” means when it comes to investing. The word is used often and, historically, is meant to
Managing Risks: Enhanced Income Mandates
INCOME PORTFOLIOS Professional money managers look at investments in terms of risk versus return. Hence the concept of risk-adjusted return, which is the central theme underpinning portfolio management. However, that
The Shape of the Recovery
FORECASTING RECOVERY SCENARIOS Forecasting is about establishing scenarios and assigning probabilities. While difficult at the best of times, developing a rational thesis on the back of COVID-19, is all
How Will the COVID 19 Experience Affect ESG Investing? – Part 2
Rod Burylo Associate Portfolio Manager Manager of ESG Integration Calgary, Alberta rburylo@croftgroup.com There are two foundational themes to the discussion of the merits of ESG (ethical) investing: values and
Covid-19 and ESG Investing – Part 1
Rod Burylo Associate Portfolio Manager Manager of ESG Integration Calgary, Alberta rburylo@croftgroup.com It should be expected that the COVID 19 experience may have a profound impact on ESG investing
Statistical Life & Modern Monetary Theory
STRIKING A BALANCE President Trump wanted to re-open the US economy by April 12th because postponing a return to normalcy “could make the cure worse than the disease.” He eventually
How The Coronavirus Has Impacted The Markets And Our Look Ahead
EXECUTIVE SUMMARY Marilyn Ferguson[1] lays claim to the following: “Fear is a question… What are you afraid of, and why? Just as the seed of health is in illness,