Buy side Archive

May 22, 2020
Buy, sell or do nothing? Timing is everything
The first requirement of great comedy is timing: with great timing, an average gag becomes a rib-tickler; get the timing wrong and the best joke elicits only yawns. Good timing transforms the average into the extraordinary. So it is with investing and M&A. And in the current crisis, we are beginning to see some large transactions that will make sense only if the timing proves to be right. But we will not know until the future, perhaps some years out, whether the...
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May 21, 2020
Global fund managers remain bearish
Stocks may have surged from March lows, but investors remain wary of the recovery and are keeping plenty of cash on hand, according to the latest fund manager survey from Bank of America Merrill Lynch (BofAML).  The study, which polled 223 respondents managing around $650 bn, finds a broadly pessimistic mood: only 10 percent predict a V-shaped economic recovery and 68 percent think we are in a bear market rally. Underlining investor concerns, average cash le...
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May 19, 2020
Advisory intelligence: Nasdaq tracks investor inflows and outflows during Covid-19
Sponsored content The analysis paints a picture of how investors reacted to the spread of Covid-19, which caused stock markets to fall around the world and central banks to step in with unprecedented support. As Covid-19 fears spread through the market in early March, every sector took a tumble. But among the worst affected were energy and financials, explains Prab Sagoo, a Toronto-based senior analyst at ...
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May 14, 2020
Advisory intelligence: Investor preferences toward capital allocation
Sponsored content While the 2010s witnessed a boom in shareholder buybacks, investor preferences have shifted in recent years to favoring dividends, according to new research from the Strategic Capital Intelligence team at Nasdaq IR Intelligence. The analysis offers insight into investor views on capital allocation at a time when many companies are faced with difficult decisions around dividends and buybacks as they manage the impact of Covid-19....
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Apr 15, 2020
Investors display ‘extreme’ pessimism amid recession fears
Investors feel ‘extreme’ levels of pessimism about the economic damage of Covid-19 and are holding the highest levels of cash since the 9/11 terrorist attacks, according to research by Bank of America Merrill Lynch (BofAML). The global fund manager survey, conducted between April 1 and April 7, finds that cash levels have risen to 5.9 percent in April, up from 5.1 percent in March and 4 percent in February. ‘We say April = peak pessimism,’ write the report a...
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Mar 27, 2020
Fund manager profile: 'Forget EPS – focus on the customer'
Founded in 1993, Brown Advisory is an independent investment management firm with offices in the US, London and Singapore. With assets under management of $81 bn, the firm manages assets for both private and institutional clients. The London office opened in 2008 and is where the portfolio managers of the Global Leaders Strategy ($955 mn) and the Global Leaders Sustainable UCITS Fund, which was launched in November 2019, are based. Bertie Thomson and Mick Dillon are the co...
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Mar 25, 2020
Drawing the short straw: How IR responds to short reports
Less than one month after SmileDirectClub’s IPO, an 8,000-word short-report was published about the company. The report was damning: it included analysis of the company’s financials, alleged that the company had a significant number of Better Business Bureau complaints, published screenshots of negative social media comments and suggested that the CEO had personally profited by selling the company his private plane. The publisher, Hindenburg Research, acknowledged in a...
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Mar 25, 2020
IR papers: Do investors look at job postings?
Ensure you make the right impression with your human capital Human capital, arguably a modern firm’s most valuable asset, gets scant attention in financial disclosures. US companies are required to report little more than the number of people they employ each year. But a recent academic study suggests that investors are bypassing stingy investor relations channels and using high-tech tools designed to reap data from online job postings – ...
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Mar 17, 2020
Ticker 113: How IR teams should manage short-sellers
This episode of The Ticker podcast comes to you from the Citadel Securities trading post on the floor of the NYSE.  IR Magazine’s Jeff Cossette talks with Laura Kiernan, founder and CEO of High Touch IR, an IR consultancy, about how short-selling works and how IR teams should respond to it. Listen to the podcast recording below > ...
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Mar 06, 2020
Increasing number of investors vote against FTSE 250 pay deals
Around a quarter of FTSE All-Share companies were subject to shareholder discontent and appeared on the Investment Association’s (IA) Public Register in 2019, with a high percentage of shareholder votes opposing FTSE 250 companies’ remuneration packages during last year’s proxy season, reveals the association. The register records whenever there is at least 20 percent of shares voted against a corporate board decision at an annual general meeting or general me...
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