Market Thinking

making sense of the narrative

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Category: Model Portfolios

Money in the Bank(s)

The top down case for European Banks – this time it really is different As Hong Kong finally opens up, we had the opportunity to catch up with some of our friends and colleagues from Toscafund who were marketing in Read more…


Model Portfolios 60:40

Bringing together our series on Model Portfolios, we show how a balanced 60:40 Portfolio of Equities and Bonds based on our Global Bond Model Portfolio combined with either our Global Equity Factor Model Portfolio (Portfolio 1) or our Global Equity Read more…


Model Portfolios – Global Themes

In our last post on Model Portfolios*, we considered looking at Global Equities through the lens of Factors – Momentum, Min Volatility, Value, Quality and Size. This allowed us to achieve diversification, while Dynamic allocation between the factors allowed us Read more…


Model Portfolios – Global Equity Factors

In our first post about our Model Portfolios*, on Global Bonds, we explained that we run Model Portfolios for two reasons: Firstly, to help us understand the dynamics operating within markets and second to demonstrate the power of Dynamic Allocation between components Read more…


Model Portfolios – Global Bonds

We are making a series of posts about our various model portfolios, starting with Global Bonds. The Bond Portfolio shown here is key to what drove our earlier views on not owning bonds at the end of last year (see Read more…


Model Portfolios- March

Market Thinking Model Portfolios use the principles of behavioral finance within a systematic risk management framework to deliver a dynamic asset allocation process for Absolute Return products. We do not use derivatives, seeking instead to reduce downside risk via the Read more…


A New Model Portfolio – Global Multi Thematic

The existing Global Equity Factor and Global Bond Portfolios allow asset allocation at the subgroup level between different ‘styles’ and also with cash, all based on a risk rather than a return basis.These can, and we believe should, be used Read more…


Market Thinking July 2020

Market Thinking is about making sense of the behaviours of the three key ‘tribes’ operating in markets; short term speculative traders, medium term asset allocators and long term investors. The first group are the most active and use a combination Read more…