The impact of events in Portugal on markets last week has highlighted the apparent vulnerability of European banks en masse to changes in investor perception. Coming from the perspective of an equity investor, one often has to consider the extent to which underlying stock picks are simply driven by larger… Read the article
Month: July 2014
“The use of flow-of-funds analysis for capital market forecasts is simply inappropriate. The process assumes that we can forecast flows of funds. We cannot.”
Peter L Bernstein.
One of the more confused areas of commentary and analysis in the world of financial markets is that surrounding the discussion of… Read the article