What are Cambridge Associates’ clients reading today?
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Can U.S. Profit Margins Continue to Defy Gravity?
Equity investors are right to be focused on corporate earnings, given that a lackluster recovery and slowing global growth may weigh on sales. However, profit margins may be of lesser concern, due to index mechanics and the limited correlation between margins and returns.
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MENA Equities: Is There an Opportunity?
MENA markets do not offer compelling value today, but may prove attractive from a long-term growth and development perspective for investors that can withstand the volatility inherent to the region.
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C|A Perspectives
The fall edition of our client newsletter, C|A Perspectives, features stories on how rising commodity prices are setting the stage for real assets to expand their role in investor portfolios; the unique challenges pension funds face during volatile markets; Paul Volcker's view on the role of commercial banks, regulation, and financial reform; ways to educate the next generation of family wealth owners; and a client profile of Kamehameha Schools, which provides a look into how the institution manages its investment office.
Other commentaries we’ve recently written for clients
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Master Limited Partnerships
This evolving asset class has a number of unique features, including market niche and favorable tax treatment for taxable investors.
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The Case for Diversified Emerging Markets Exposure
While emerging markets have historically been viewed as a high-beta play on economic growth, today they deserve a diversified investment approach similar to that used for developed markets, particularly for investors with meaningful emerging markets overweights.
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The Benefits of Selling Volatility
A fully collateralized option-selling program has historically provided strong returns with low volatility and high liquidity. Looking ahead, we expect this to be an attractive portfolio diversifier that seeks to capture the seemingly persistent gap between implied and realized volatility.