Investment Perspectives

Each quarter we explore a topic that we believe is relevant for our clients in understanding the current investment environment and the markets.

Client Letter: Investment Perspectives

Investors are now well aware of the publicity generated by private equity firms making very large acquisitions, and by the recent announcement of the Blackstone Group, a leader in this field, to sell shares publicly. Investors also realize that private equity investing has been very rewarding. However, because we at Aureus believe that current developments may well lead to a more challenging environment for private equity firms going forward, we think it timely to express our views on this matter.

Client Letter: Investment Perspectives

Much has happened in the world since 2000. Americans think immediately of September 11, 2001, and of the wars in Iraq and Afghanistan. We also remember the crash in technology stocks in 2001-2. In the face of those events, not even the best economic prognosticators would have predicted the breadth and strength of the worldwide recovery which started in late 2002.

Client Letter: Investment Perspectives

The news that a large hedge fund lost over 65% of its value in a short period of time in September has re-focused attention on the entire hedge fund industry. Yet it is far from a monolithic industry; hedge funds range the gamut from low to high risk, from substantial to modest volatility, and from opaque to highly transparent operating procedures

Client Letter: Investment Perspectives

The financial markets have begun to anticipate change. As market psychology has shifted from hopeful to risk averse, there are those who have interpreted this recent change as a major inflection point in market direction. Our near to medium term outlook has been tempered by this shift in market dynamics, to a less vigorous second half of 2006 than originally thought.

Client Letter: Investment Perspectives

The past year showed the wisdom of global diversification. In the equity markets, the US lagged, with the Standard & Poor’s “500” providing a return of 3% (4.9% including dividends). Within the US market, there were a few areas of strength, such as energy, utilities, industrial materials and large capitalization biotech leaders. These groups produced gains of from 20-40% or more.

Archived Investment Perspectives