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Portfolio Protection: Challenges with Equity Put Options

We advise extreme caution in using derivatives to protect portfolios from sharp equity drawdowns. We recommend that investors look to asset allocation to defend against equity risk before buying puts. For those investors who must pursue a tail-risk hedge, we provide a list of potential pitfalls and solutions, in the form of a case study.

May 2021

VantagePoint: Investment Opportunities Six Months Into the Pandemic

Economic, market, and healthcare circumstances have been extraordinary over the last six months. However, attractive opportunities exist in some pockets of tech, relatively cheap public equities, and even in credit less supported by central bank activity. Additionally, the importance of investing in social equity has been brought into sharp relief by this crisis.

September 2020

Will Virus-Linked Risks Overwhelm Small-Cap Equities?

No, we’re optimistic about this diverse collection of companies, and we think investors without dedicated allocations should establish toe-hold positions in developed markets (DM) small-cap equities funded from DM mid- to large-cap peers.

July 2020

Have Global Equities Bottomed?

Investors should maintain a healthy degree of skepticism about the ability of the global economy and risky assets to manage a V-shaped recovery.

June 2020