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

1 post found for August 2013

‘“Dirty Thirty” not “Nifty Fifty”?’

For the past three years there has been little economic or corporate profit growth in Europe. Only above average companies able to leverage their competitive advantages have been able to increase their profits. Given that equity valuations are very sensitive to growth assumptions, investing in higher quality companies has for the most part been a spectacular winning trade, particularly as the lack of value in other asset classes has justified multiple expansion. Although we are not ideologically…