Global Perspectives

KKR Insights
Emerging Market Equities: The Case for Selectivity Remains
BY HENRY H. MCVEY • May 14, 2015

Emerging Market Equities: The Case for Selectivity Remains

While the recent downturn in both valuations and return on equity might suggest that now is the time to begin buying public emerging market equities en masse, we do not hold that view. Leverage remains near all-time highs, which likely means further dilution for equity holders. Also, we think currency will remain a headwind for some time, particularly as the Fed begins raising rates. Finally, EM underperformance cycles tend to run long, with an average of 91 months versus “just” 55 months t....

BY HENRY H. MCVEY • Feb 24, 2015

China’s Rebalancing Effort: Will It Be Enough?

Over the past 10 years, China has been the fastest growing major economy in the world.  It has also had among the worst stock market returns a....

BY HENRY H. MCVEY • Jan 08, 2015

Getting Closer to Home

While the general backdrop for risk assets remains favorable, we are no longer advising folks to “Stay the Course” as we did in our January 201....

BY JOHANNES P. HUTH, Martin Rajcan, Tomáš Kubica • Nov 02, 2014

Unlocking the World for Central and Eastern European Champions

Twenty five years after the fall of the Berlin Wall, the broader Central and Eastern Europe (CEE region) is once again a flashpoint of global geopo....

BY HENRY H. MCVEY • Sep 15, 2014

Investment Implications of an Asynchronous Global Recovery

Unlike past recoveries over the last 20 years, we see the current one as highly asynchronous. Central to our thesis, we believe, is a unique set of ma....

BY HENRY H. MCVEY • Jun 26, 2014

Midyear Outlook: Four Big Macro Trends at Work

Our updated asset allocation framework reflects the four big macro trends we currently see driving returns across the global capital markets. First, i....

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