Equity Investments

379 Posts

Book Review: Asset Management

Book Review: Asset Management

This highly engaging book will be warmly received by a wide audience. Anyone teaching entry-level finance should consider adopting it, and practitioners will be well rewarded by a close reading. It belongs on the front shelves of pension and endowment managers, who should read and reread the chapters on hedge funds, real estate, commodities, and private equity. Read more

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Weekend Reads for Investors: Merger Mania, Peak Profits, and Value Investing

Weekend Reads for Investors: Merger Mania, Peak Profits, and Value Investing

The burgeoning market for mergers is reflective of a lack of organic growth opportunities, cheap capital, and flush corporate coffers. Additionally, elevated stock prices provide buyers with a strong currency and sellers with a reason to cash in, which helps explain why M&A activity has tended to peak around market tops, most recently in 2007, and before that in 2000. So while the pace of deals may be a sign that CEOs and their boards are more confident about their prospects for growth, investors should be aware that their timing of late has been less than prescient. For those investors tempted to pick the next takeover target, the safer bet may be on the Wall Street bankers who are doing the matchmaking and financing. They always get paid. Read more

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The Outlook for Spain and the Eurozone

The Outlook for Spain and the Eurozone

The Enterprising Investor recently spoke with José Ramón Iturriaga, one of the top fund managers in Spain — not to mention one of the most prescient. In a wide-ranging discussion, Iturriaga shared his thoughts on developments in Spain and the eurozone as well as his overall investment strategy. Read more

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