Blame game – Should investors ever reproach themselves for their advisers’ errors?

By Ian Kelly and Nick Kirrage To what degree should investors ever blame themselves for the mistakes of their investment advisers? Here on The Value Perspective, we were tempted to take a few steps towards this particular ethical minefield after … Read More

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Slow burn – Bad decisions taken in boom times can take a surprisingly long time to unwind

By Andrew Lyddon One of the things that most caught The Value Perspective’s eye about the record $9bn (£5.25bn) settlement BNP Paribas has agreed with US prosecutors in relation to allegations of sanctions violations was not the huge price-tag nor … Read More

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Not so sweet – What should fund managers tell clients if their asset class gets really expensive?

By Nick Kirrage When does an asset class become so expensive that even the fund managers specialising in that area will admit it? It is a pertinent question at a time when, although we would not go so far as … Read More

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Home truths – Next time house prices crop up at a dinner party, take a value perspective

By Nick Kirrage Here on The Value Perspective, we enjoy chatting about house prices as much as the next person although, when the subject does inevitably crop up at a dinner party, we are usually to be found approaching things … Read More

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Smooth operators? – Can so-called ‘yieldcos’ follow through on the quiet life they promise?

By Andrew Lyddon In a world where many people continue to view volatility solely as a negative, it isn’t overly surprising that companies continue to look for ways to carve out assets with more predictable cashflows and sell them to … Read More

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Balancing lacked – Bond investors may need to think harder about the risk-reward equation

By Ian Kelly In recent pieces such as Long-term cares, and Sale of a century, The Value Perspective has raised a metaphorical eyebrow about the way some investors seem to be weighing the balance between risk and reward. This time, … Read More

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Long-term cares – A new paper suggests bond investors need to be careful reaching for yield

By Ian Kelly Long-term bond returns under duration targeting is the name of a paper published earlier this year in the Financial Analysts Journal that recently caught the eye of The Value Perspective. Honestly. To its credit, it makes greater … Read More

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Pipe dreams – Talking up the price of your business can be dangerous if it does not get paid

By Ian Kelly Should you have experienced a strong sense of déjà vu about the way AstraZeneca set about fending off what it clearly saw as the unwelcome advances of fellow pharmaceutical giant Pfizer, it may not have been solely … Read More

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Costa benefit analysis – What can the 2014 World Cup tell us about behavioural finance?

by Andrew Lyddon As we reach the business end of the 2014 World Cup, with all four quarter-finals taking place over the next couple of days, the obvious question has to be: what useful value-oriented lessons might we learn from … Read More

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Wrong target – Investors in absolute return funds may not be buying what they think they are

by Nick Kirrage What are investors looking for from an absolute return fund? Firstly it might help to explain what the IMA define an absolute return fund actually is – An absolute return fund aims to deliver positive returns in … Read More

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