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The third quarter 2012 issue of Global Foresight focuses on emerging markets. David P. Harris, Chief Investment Officer, assesses prospects across emerging markets. Jimmy C. Chang, Senior Portfolio Manager, delves further into emerging market investment opportunities and examines the trajectory of the largest emerging economy, China. Mark Iannarell...

The ongoing euro currency crisis has led to substantial declines in European asset prices. Measured relative to operating cash flow, European corporate assets are now selling at a 30% discount to the average of the rest of the world. While some portion of this differential can be explained by a weaker macroeconomic outlook, most of it is attributab...

Investing on the basis of fundamentals has long been a cornerstone for prudent investors. However, the rash of extreme geopolitical events over the past several years has tried investors' patience, riled portfolios and turned sound expectations on their heads. In this white paper, Greycourt & Co., Inc. examines the factors that have contributed to ...

In the fourth quarter 2012 issue of Global Foresight, Rockefeller & Co. focuses on the recent QE3 (quantitative easing) announcement by Federal Reserve Chairman Ben Bernanke and the related inflation and market implications, along with a discussion of the current geopolitical overlay. David Harris, CFA, Chief Investment Officer, leads with a hi...

The Fiscal Cliff is a mix of laws and measures that will be triggered automatically if Congress takes no action between now and year-end on reducing U.S. debt. The resulting forced austerity will reinstate policies that will reduce the 2013 budget deficit by $607 billion (roughly 4% of current U.S. GDP). Yet if the U.S. debt-to-GDP ratio falls fro...

When real estate property values, such as housing, are increasing at such a rapid rate that price levels become unsustainable (typically as a function of replacement value, affordability, rental equivalency rates, etc.), a real estate bubble occurs. The consequences of a real estate bubble consist of an inevitable plummet in values and general econ...

Many will recall Carmen Reinhart’s and Kenneth Rogoff’s "This Time is Different: Eight Centuries of Financial Folly," which had a significant impact on the public discussion over the relationship between debt and economic growth following its publication in 2011. In this article, Rockefeller & Co. Senior Advisor and Economist Matthew D. Gelfand dis...

The new landscape of energy in the United States — in particular, domestic oil and gas — is changing the national discourse on “energy independence,” influencing our economic recovery, and offering opportunities for discriminating investors. This paper takes a closer look at what might be a new renaissance in oil and gas.

This presentation details the key findings of a study looking at the effect of private equity on employment.

As shown by local bans in the US and Canada, national moratoriums in France and Bulgaria, and tighter regulation in Australia and the UK, the global anti-fracking movement has mounted an effective campaign against the extraction of unconventional gas through hydraulic fracturing (‘fracking’). Meanwhile, the oil and gas industry has largely failed t...

While several key provisions of the ACA take effect in 2013, the broader market impact is likely muted in the near term. Markets are forward-looking, and stocks have had ample time to digest the legislation since it was passed in 2010. Equities showed little movement when the Supreme Court upheld its constitutionality in June, and though the recent...

News purveyors provide a valuable service, balancing a need to report on noteworthy occurrences while appealing to multiple audiences. Unfortunately, there is often a material difference between what is newsworthy to an investor vs. a broader audience looking to be infotained. With entertainment a necessary ingredient, more titillating stories are ...

In the first quarter issue of Global Foresight, Rockefeller presents an in-depth review of the risks and opportunities facing global investors in 2013. David Harris, Chief Investment Officer, discusses how the slow mend in the global economy, low interest rates, and other factors should keep equities as a logical core of most portfolios. Jimmy Chan...

This study finds optimism returning to Europe’s real estate industry. Sentiment among industry leaders about the prospects for their businesses is more positive than at any time since 2008, despite the uncertain macroeconomic outlook. Equity for investment in prime commercial real estate is expected to increase, but bank debt is predicted to ...

This paper answers frequently asked questions on how health care reform will affect companies with more than 50 employees. The report includes sections on options available to employers, penalties for non-compliance and the industries impacted the most.