Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

2 posts found for March 2013

‘Why are European Equities Outperforming Emerging Markets?’

Everyone knows that emerging market (EM) economies are growing faster than those in Europe. However, European companies have been outperforming those in EM for over two years now. Not many people are talking about this and mutual fund flows definitely don’t reflect this, but you would have to go back to calendar year 2010 to find the last time emerging market stock indices outperformed their European peers. So what is going on? In order to analyse this we used the MSCI Pan European and the MSCI…

‘Ryanair and the importance of high ROE for growth and dividends’

Warren Buffett once quipped that the way to become a millionaire was to “start as a billionaire and buy an airline”, but our experience of investing in Ryanair, Europe’s leading low-cost airline has been somewhat different. In fact Ryanair is an excellent example of how a company with a superior business model can generate consistent compound earnings growth in a difficult industry environment. And given how few industries are currently booming, the success of the Ryanair may offer some useful insights…