Argonautica

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

2 posts found for 2019

‘Current yield gap calls for an allocation to European equities’

In Europe, the yield gap or difference between equity yields and bond yields is reaching historic highs (again). History shows that this is an important signal to investors. Indeed, the extent of the current yield gap has not often been seen over the last 20 years – and when it has occurred, investors who moved in to equities have been rewarded - not only would they have generated strong total returns, but also locked-in attractive yields for their portfolios. Although against the grain of current…

‘The hedgehog market’

“The fox knows many things, but the hedgehog knows one big thing” Ancient Greek poet Archilochus The hedgehog knows only one very important thing: when in danger it will curl up into a prickly ball to defy the cunning fox, who despite knowing an infinite variety of things, is defeated. The Oxford philosopher Isaiah Berlin (in his essay on Tolstoy in 1953[1]) divided up historical figures between hedgehogs and foxes: those who believed in a central unified philosophy in which all other things made…