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Insights

Insights

By Henry H. McVey, May 17, 2013

By Henry H. McVey, April 9, 2013

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China in Transition

From almost any vantage point, it appears that China is at somewhat of an inflection point in its rich cultural and economic history. The government, under its new leaders President Xi Jinping and Premier Li Keqiang, should deal with some important structural issues: slowing urbanization, increased export competition, heavy real estate lending and wide income inequality. We do not want to underestimate these significant challenges, but our recent time spent on the ground in China...

By Henry H. McVey, February 19, 2013

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Natural Resources: A Step Further

The recent macro backdrop of historic quantitative easing, intensifying globalization, and geopolitical supply threats has increasingly informed our positive stance on real assets, energy and natural resources in particular, as compelling investment opportunities. In this report, however, we go a “step further,” detailing the specifics of why we believe that at least a 6-8% allocation towards energy and natural resources investments is likely the most appropriate level to both maximize...

By Henry H. McVey, January 16, 2013

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Outlook for 2013: A Changing Playbook

As part of our “changing playbook” thesis, we see four important macro themes worthy of investor attention in 2013. While emerging markets remain the growth engine of the global economy, we increasingly see government and central bank intervention in large corporations as an immediate threat to shareholder returns. CIOs should consider accessing emerging markets through concentrated public equities, local mezzanine debt, and/or even private company investments rather than owning traditional passive equity indexes or ETFs.

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