Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

2 posts found for 2009

‘A very good year?’

This is a decidedly unpopular bull market. New objections to investing in equities continue to emerge. We read every day that the market rally has gone too far and that a significant pullback or a resumption of the bear market is imminent. These noisy bears tend to fall into three camps: those who are hoping for a better entry point; those who are looking for confirmation that their entrenched bearishness was right all along and those who on “up” days are in the former camp and on “down” days in…

‘Dollar bears, China bores and the V-shaped recovery that no-one is predicting’

A good story has always gone a long way in the stock market. Expensive valuations can endure if the market has conviction in a compelling growth narrative. Equally, cheap assets are often neglected through the lack of “catalysts”. Moreover, once “belief” in a story is established it is often difficult to shift even when fundamentals begin to change. Currently, the highest conviction “beliefs” in the market are that: i) the economic recovery will be anything other than “V”-shaped; ii) Emerging Markets,…