The public debate regarding climate change rages daily in the popular press and in the halls of Washington. This report takes a different tack and focuses on the investment implications of what we call the great transformation away from reliance on carbon-based fuels. DOWNLOAD PDF

You often hear that as part of a restructuring to improve its financial position, a company plans to sell assets.  GE is a focal point of such discussion currently and the company has sold off some divisions.  But before you accept the view that such actions are beneficial, you must ask yourself where the benefit

            The total market value of a company can be divided into two parts: the fraction of due to current and short-run foreseeable operations and everything else.  Financial economists have used the term “growth options” to describe the everything else.  Growth options are the new projects that a company will take

[vc_row css=”.vc_custom_1553717404256{margin-top: 100px !important;margin-bottom: 100px !important;}”][vc_column width=”1/2″][vc_single_image image=”1210″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_column_text] On repeated occasions, Eugene Fama has claimed that critics have failed to offer a complete alternative to the efficient market hypothesis (EMH). More specifically, in his Noble speech, Fama said, “Most important, the behavioral literature has not put forth a full blown model for prices

[vc_row css=”.vc_custom_1553718960683{margin-top: 100px !important;margin-bottom: 100px !important;}”][vc_column width=”1/2″][vc_single_image image=”1213″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_column_text] With sky-high valuations in the US stock market, and what we believe is a tech bubble that has dangerous implications for other areas of the market, we suggest four actions investors can take now to avoid the inevitable bursting of the bubble, and which will

A company is never so good or a situation so favorable that it cannot be overpriced.  In my view, that is our situation today.  The pricing of many companies and the market generally suggests a bubble.  The questions are why to I reach that conclusion and what should investors do if I am right?  This