A Journal of Independent Research, Analysis, Opinion and Insight
fullissue
09 23 22 WOWS FULL ISSUE An Alternative Way To View Or Print The Entire Current Issue As A Single Document 9/23/22 Attention Paid-Up Subscribers: To read or print the entire current issue as a single document, use the "easyprint" feature in the "Nav bar" to the right to open it, or any of WOWS' individual features, as an Adobe PDF file, and then print it. Alternatively, you can click "more" at the bottom of this paragraph and then click the red Adobe icon that appears. Your second click will download the full issue .pdf file of WOWS' latest issue to your computer, a process that -- depending on the file size and your connection speed -- might take more than the blink of an eye. Then, depending on preferences you've set on your device, it will either open automatically or show up in your downloads folder, waiting to be opened. [More]
listeningin
09 23 2022 WOWS Listening In - Ignore Fashion Ariel's Rupal Bhansali On Yielding To The Attraction Of Dividends 9/23/22 While Ariel Investment’s corporate motto, “Slow and Steady Wins the Race,” has proven its worth for patient investors for decades now, Rupal Bhansali, who has run the firm’s international and global equities strategies from New York City since 2011, is not one to beat around the bush when it comes to market analysis. Or what she thinks about most anything else.
Which is not to say that Rupal, Ariel’s CIO and PM, Global Equities, in any sense contravenes the corporate ethos. Rather, her patient, research-intensive and non-consensus approach to international investing embraces the same sort of fundamental values Ariel Founder John Rogers has long championed in domestic markets. [More]
By Causeway Capital Management In the liminal space between “value” and “growth” hide underearning companies we believe have some of the greatest return potential in today’s challenging global equity markets.
By Robert Eisenbeis Markets did not like the August CPI increase over the number from July, which remained essentially unchanged, though a significant decline had been predicted. The Bureau of Labor Statistics just published the CPI for August and provided along with it a detailed breakdown of the CPI into over 300 categories and subcategories of price increases and decreases for all items and separately for food and energy.
By Dimitri N Balatsos Yesterday, making good on Chair Jerome Powell’s Jackson Hole comment that “We will keep at it” beating inflation down, the FOMC raised the fed funds rate by 75bps to 3.00-3.50%. In the Fed’s view, the rate was justified in the face of ongoing growth (albeit modest), robust job gains, and low unemployment.
By Anastasia Burya, Rui C. Mano, Yannick Timmer and Anke Weber Some employers can attract a large pool of job applicants without having to offer higher wages.
By Adam Looney The sleeper news in President Biden’s announcement to forgive roughly half a trillion dollars in student loans is his proposed changes to Income-Driven Repayment (IDR) plans that are to take effect in January 2023. The changes mean that most undergraduate borrowers will expect to only repay a fraction of the amount they borrow, turning student loans partially into grants.
Housing Woes Begin And Look To Be Worsening Rapidly 9/23/22 8:20 AM David R Kotok Housing starts data notwithstanding, here’s why we think the US housing market deterioration will have a downside acceleration following what has been a surge in valuations. The two charts show the spread of 15-year and 30-year mortgage rates to the benchmark 10-year US Treasury note. [More]
U.S.’s Sustainability: D-, Maybe The Good News: Plenty Of Room For Improvement In Policies 9/23/22 6:20 AM By Philippa Dunne & Doug Henwood This summer the United Nations Office of Sustainable Development released their 2022 report that ranks countries based on seventeen metrics covering education, pollution & health, and inequality. They lead with a stark statement: the pandemic wiped out four years of progress on eradicating poverty, sending an additional 93 million people into extreme poverty in 2020. [More]
This year’s sharp decline in stock prices and rise in interest rates (and credit spreads) improved the outlook for stock and bonds. The second quarter selloff made it a more attractive time to take risk though July’s strong equity performance, particularly in US Growth, tempered our forecasts.
Despite valuation compression across all countries, U.S. [More]
Jay Powell “We have got to get inflation behind us. “I wish there were a painless way to do that; there isn’t.” The Fed Intensifies Its Battle Against Inflation The New York Times September 21, 2022
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