Please explore this section to learn more about Plimsoll Mark Capital’s views.
QUARTERLY COMMENTARY
Fourth Quarter 2011 Review & Outlook
For the global investor, 2011 was a rough year for stocks. Excluding the US, the global stock market declined 14%, with minus 13% for developed markets and minus 18% for emerging markets. All in all, 2011 was a year which most investors will be happy to consign to history. And it’s not just because most equity markets fell (sometimes sharply) but also because the prevailing mood was so gloomy. The only respite was the positive 2% return turned in by the US stock market, making it look like the nicest house on a bad block. So, standing at the threshold of 2012, what looks different? Read in full.
POSITION PAPERS
Toward Energy Independence and a U.S. Manufacturing Renaissance
While we remain cautious in our overall view about the global economic outlook because of too much debt in the system and continue to be concerned about “crisis risk” related to politically motivated policy mistakes, we are optimists by nature and are always looking for the “glass is half full” side of the story. In the spirit of Joseph Schumpeter (the economist that popularized the theory of creative destruction), we currently see the seeds of a possible U.S. manufacturing rebirth led by transforming advances in energy technology. Read in full.
PLIMSOLL PERSPECTIVE
“Don't Ignore Equities”
The S&P 500 last achieved a meaningful new high in the year 2000, at the end of the dot com bubble. Today, eleven years later, the S&P Index remains more than 25% below that peak as our economic and financial woes continue. Will our economy slip back into recession? Will the Euro break down along with the European banking system? Is the Chinese economy in its own bubble? Is our political process still functional? Read in full. |
