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Six Sources of Alpha in Emerging Markets
The emerging markets (“EM”) equity asset class has evolved considerably over the past decade such that many active EM equity managers may find it challenging to create long-term alpha over the benchmark. Countries such as China and India are moving to the fore, historical drivers of growth are changing and technology, innovation and health care are becoming a larger part
Here's What Wall Street Thinks About Facebook's Big Earnings Beat
Facebook, Inc. (NASDAQ: FB) reported record profit in its fourth-quarter results while daily active user metrics grew in all geographic regions. Here is a summary of how some of the Street's top analysts reacted to the print. The Analysts Bank Of America's Justin Post maintains a Buy rating on Facebook with a price target lifted from $190 to $205. Wells
China’s Growth Playbook: How to Get Out of a Fix
After a long period of investment-driven growth, China is changing its policy playbook. In recent months China has rolled out tax cuts and incentives to boost consumption over investment while taking steps to further open its capital markets – a shift in approach that seems to accept a natural slowing in growth over time and to acknowledge the costs of
The Impact of US Policy on Emerging Markets: Three Investor Misconceptions
As investors continue to grapple with market jitters brought on by months of US-China trade tensions and other market uncertainties, Franklin Templeton Emerging Markets Equity’s Chetan Sehgal explains why the recent volatility could present opportunities in the medium to long term. He also considers some investor misconceptions about emerging markets and the positive factors that many are missing in part
Texas Attorney Sues Apple Over FaceTime Bug
A lawyer from Houston, Texas has sued Apple over the security flaw with its FaceTime feature that allowed anyone with an iPhone to listen in on any other iPhone user's conversation, without that person knowing you were eavesdropping. Larry Williams II, the Texas attorney, claims that the iPhone bug allowed a person to record a client's sworn testimony, as CNBC
What to Do With China: Part I
Graham Allison published a controversial book in 2017 in which he argued that the probability for a major war increases when an established hegemon faces an emerging power that threatens the hegemon’s position. He used Thucydides, the Greek historian who wrote a history of the war between Sparta and Athens, as his model for superpower competition.1 Over the past few
U.S. Charges Huawei With Stealing Trade Secrets and Attempting to Evade Sanctions on Iran
The United States Justice Department and acting Attorney General Matthew G. Whitaker unveiled a 13-count indictment against the Chinese telecom giant Huawei and its chief financial officer, Meng Wanzhou, charging the company  with bank fraud , wire fraud and attempting to evade sanctions on Iran and more. In one indictment, which was returned by a grand jury on Jan. 16,
Income Fund Update: Building Resiliency in Volatile Markets
SUMMARY During the fourth quarter of 2018, high quality assets were the key drivers of the Income Fund and helped preserve capital for investors. Because we think the markets will remain volatile in the year ahead, the Income Fund is defensively positioned overall but will aim to use any market dislocations to go on offense. With high volatility in corporate
Report: Facebook To Unite Messenger, WhatsApp, Instagram
Facebook, Inc. (NASDAQ: FB) CEO Mark Zuckerberg plans to upgrade privacy measures and combine the infrastructure of the firm’s three messaging platforms, according to a Friday report by The New York Times. “We’re working on making more of our messaging products end-to-end encrypted and considering ways to make it easier to reach friends and family across networks,” Facebook said in a
Brexit and Beyond: Investing in Europe amid Political Risk
With Brexit headlines dominating the European news, equity investors face an ongoing challenge. Building resilient portfolios requires a clear view of the long-term outlook for European companies that also reflects major short-term political uncertainties. Political risk has been a feature in European markets for years. Lately, from Italy’s fiscal squabbles to turmoil in the streets of France, it feels like