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

1 post found for July 2012

‘Is a new bull market already underway in “growth” stocks?’

We at Argonaut have a basic investment belief that bull markets rarely repeat; that stock market leadership is unlikely to sustain itself in a new capital cycle. This is in part because financial markets will always over-extrapolate trends and therefore over-allocate capital to booming industries, sowing the seeds of an eventual bust. But this is also true of investment styles: not least the perpetual debate between “growth” (which we define as high ROE/high price to book ratios) and “value” stocks…