The Editorial Team |

Value Investing: Capitulation or Opportunity?

LAGOS (Capital Markets in Africa) – Value stocks trade at prices below their fundamental value. If prices of stocks converge towards their fundamental values then it is natural to expect value stocks to outperform their more expensive peers, at least on average. This outperformance is known as the value premium. Value stocks have severely underperformed in recent years, leading many investors to question the relevance of value investing or even to contemplate its demise. However,…

Investing after COVID-19: finding lasting opportunities in the new normal

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LONDON (Capital Markets in Africa) – To call 2020 “unprecedented” wouldn’t begin to do justice to the depth of challenges individuals and organizations around the world found themselves unexpectedly confronting over the past year—nor the speed with which those challenges arrived. It was early January when news broke of a pneumonia-like virus circulating in Wuhan, China; before the end of the month, the World Health Organization had declared COVID-19 a global public health emergency, and…

Bitcoin Is Exactly Like Gold Except When It Isn’t

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LAGOS (Capital Markets in Africa) – Bitcoin has been described as digital gold. The phrase digital gold may be a brilliant and highly informative metaphor, a cynically clever sales trick (a form of associative and repetitive priming) intended to boost bitcoin trading by naïve investors or, perhaps, an indication of the futility of explaining the utility of bitcoin. Elmandjra (2020) embraces the concept of bitcoin as digital gold and enthusiastically recommends bitcoin investment while Furman…

Bond market riot: Rates are rising but is it sustainable?

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LONDON (Capital Markets in Africa) – The new year has awoken the bond market from its slumber. What began as a gradual climb in nominal yields from the summer accelerated in February with the yield on the US 10-year Treasury note briefly topping 1.6%, and significant moves higher globally including in Australia and the UK. Moves of this speed are rare, so Janus Henderson dedicated an ISG meeting to ask why global yield curves have…

Stock Market Bubble? By Ray Dalio, Founder of Bridgewater Associates

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LONDON (Capital Markets in Africa) – Ray Dalio has seen a lot of bubbles in his time and he has studied even more in history, so he knows what he means by a bubble and he systemized it into a “bubble indicator” that he monitors to help give him perspective on each market. We now use it to look at most markets we are in. He wants to show you how it works and what…

Transition Pathway Initiative: State of Transition Summit 2021

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This is the transition decade, and companies are starting to detail their transition plans whilst investors are committing to net-zero targets. Ahead of the major UN climate conference, COP26 Summit to be held in Glasgow, please join the Transition Pathway Initiative (TPI) for the fourth ‘Annual State of the Transition Summit’ to hear what progress has or has not been made. During this webinar we will bring leading global investors together for an honest dialogue…

Oil Rises After Suez Canal Blockage, Strong European Data

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LAGOS (Capital Markets in Africa) — Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added as much as 3.4% after a ship ran aground, giving the market a reprieve after prices sank to the lowest level since early February. Despite efforts to move the vessel, it could block the route for days, according to people…

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