Articles written by
Angel Sanz
Perception vs. Reality: US Election
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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A (deep) contrarian view #2: Buy Sterling Pound Vs. Us Dollar
BUY STERLING POUND VS. US DOLLAR CURRENT SITUATION On June 23rd, UK citizens voted to leave the European Union (Brexit). The GBPUSD rate was 1.481 before the referendum. Two days later GBP had fallen 10.8% to 1.321. After that date, the currency has been more or less stable until October…
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Perception vs. Reality: Should we blindy buy high dividend yield stocks? NO. Should we buy increasing dividend yield stocks? YES.
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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Perception vs. Reality: Are Equity Emerging Markets linked to Commodities? No.
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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A (deep) contrarian view: Buy the basket of top holdings in US Hedge Funds
BUY THE BASKET OF TOP HOLDINGS IN US HEDGE FUNDS CURRENT SITUATION 2016 has been a very tough year for active managers, especially in the equity US market (both hedge funds and long only funds). From 31-Dec-15 to 30-April-16, the SP500 NTR has gained 1.73% whereas the Tremont Long-Short Index…
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Perception vs. Reality: Hedge Funds – Bad results, but neutral on a risk-adjusted basis.
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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Chart of the month: April Edition
Biotechnology: a fallen angel or a buying opportunity? The recent performance of the biotech sector has been truly dismal since Hillary Clinton sent her famous tweet on 21st Sept 2015: “Price gouging like this in the specialty drug market is outrageous. Tomorrow I’ll lay out a plan to take it on.”…
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Perception vs. Reality: are high yield ETFs riskier than similar funds?
Daniel Kahneman, the Nobel Prize in Economic Sciences in 2002, wrote a best-selling book entitled “Thinking, Fast and Slow”. The central thesis of the book is that human beings have two modes of thought: System 1: Fast, instinctive and emotional; System 2: Slow, deliberative and logical. We can say that…
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Chart of the month: January Edition
US EQUITIES: “SMALL IS BEAUTIFUL” (SOMETIMES) In 1973, the British economist E. F. Schumacher published the book “Small is beautiful”. Although he did not talk about mid-small caps, the sentence is widely used to champion small players in all kinds of businesses. French & Fama published in the 80s the famous…
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