Global Equity Strategist
Lars is not your average German: he owns the house he lives in, has two children and drives Japanese cars (one electric). Maybe that’s also why he covers equities rather than bonds?
By Lars Kreckel - March 15, 2018 3 mins
In a raging bull market there is always the temptation to buy the laggards in the hope of juicy returns from a 'catch-up' trade. Unfortunately, all too often you end up in a value trap instead: there’s a reason the stock has lagged and that reason often turns out to be annoyingly persistent. There’s no doubt that Mexico meets the laggard definition. But I would argue that there’s a strong case it could actually be a catch-up story.
By Lars Kreckel - March 09, 2018 3 mins
How could investors not like technology stocks? They’re cool companies, led by charismatic CEOs making irresistible products. And what's more, they're posting amazing growth rates with stocks that just keep going up. I’m sure the bottom-up investment case is much more sophisticated than that, but today I want to lay out the strong macro case for tech stocks.
By Lars Kreckel - January 09, 2018 2 mins
It’s a new year, but some things haven’t changed. The "fear of missing out" market continues. However, with the rally come worryingly bullish sentiment indicators. One of our favourites is flashing red for the first time since 2010.
By Lars Kreckel - November 30, 2017 2 mins
In at least one respect, I can identify with Millennials: FOMO. The ‘fear of missing out’ on things such as Game of Thrones, tickets to FC Cologne vs Arsenal, that perfect powder run on my snowboard holiday or front row seats at my daughters’ nativity plays. But looking at markets at the moment, it’s pretty obvious I’m not the only one with FOMO!
By Lars Kreckel - November 10, 2017 3 mins
It’s easy to build a buy case for European equities at the moment. The economy is booming, earnings are growing, politics look as stable as they have been for years and the European stock markets have lagged behind for so long that surely it’s time for some catch up? But perhaps constructing this buy case is a bit too easy?
By Lars Kreckel - September 28, 2017 3 mins
How much of where equities are today has come from quantitative easing (QE)? For a long time the answer to this question has not really been that important to equity investors. But now, with central banks moving towards shrinking their balance sheets, it’s a question equity investors can no longer ignore. My view is that QE may not have contributed much to the equity rally and therefore its unwinding may not be a major concern either.
By Lars Kreckel - September 20, 2017 2 mins
After eight bull market years and with strong macro data all round, recession and bear market memories must surely be fading. Still, signs of exuberance or great bullishness are difficult to find; at most there is cautious optimism. Why? One of the most common push-backs against an equity bull case is that equities are too expensive. I can see where this concern comes from, but believe it’s something to push back against. Here are my top 10 points on equity valuations.
All posts: 33
Page No: 1
All posts: /authors/lars-kreckel/?page=2