Lazard Insights

Most Recent Insights

From Deflation Fears to Inflation Concerns

Thursday, March 30, 2017

Over the past couple of years, persistently low inflation has concerned policymakers and investors. More recently, however, expectations have reached an inflection point as higher inflation will be a key risk going forward. Ron Temple, Co-Head of Multi-Asset and Head of US Equity, reviews recent inflation trends, where inflation stands today, and how to defend capital against inflation risks.

Featured Speaker

Ronald Temple, CFA
Managing Director, Co-Head of Multi-Asset and Head of US Equity
Ronald Temple is a Managing Director and Co-Head of Multi-Asset and Head of US Equity, responsible for oversight of the firm's multi-asset and US equity strategies as well as several global equity strategies. He is also a Portfolio Manager/Analyst on various US and global equity teams. Since joining Lazard in 2001, Ron has developed a reputation as an authority on the global financial crisis and the secular changes under way in the global economy. Beyond his day-to-day responsibilities, Ron engages extensively with a wide range of Lazard's investment professionals across the equity and debt arenas to leverage the firm's insight broadly. Ron's unique perspectives in part arise from his broad range of previous experiences in financial services. Prior to joining Lazard, Ron was a Director and Buy-Side Equity Analyst at Deutsche Bank AG. In a previous role at Deutsche Bank, he oversaw the implementation of merger related synergies on behalf of Deutsche Bank's CEO of the Americas after Deutsche acquired Bankers Trust. During the Asian debt crisis, Ron served as business manager for Deutsche Bank's CEO and Deputy CEO of Asia/Pacific in Singapore, a position in which he supervised the Investment Banking Division and executed on strategic business changes for the Group. He also held a previous role in a global business manager function for Deutsche Bank's foreign exchange business. Ron has had extensive experience developing and enhancing risk management processes at Deutsche Bank, Bank of America NT&SA, and Fleet Financial. Ron began his career trading cash and derivatives in the interest rate and foreign exchange markets at Fleet Financial Group. Ron earned his Master in Public Policy from Harvard University and his Bachelor of Arts in Economics and Public Policy Studies magna cum laude from Duke University. He is a member of the Council on Foreign Relations, the Economic Club of New York, Duke University’s Graduate School Board of Visitors and the New York Society of Security Analysts (NYSSA). He also served as a trustee of the Link Community School in Newark, New Jersey, from 2006-2014, as a member of the Trinity Board of Visitors at Duke University from 2006-2012 and a member of the Financial Accounting Standards Advisory Council from 2013 to 2015.

Previous Insights

US Small-Mid Caps: The Opportunity Ahead

Monday, February 27, 2017

Over the last 25 years, small-mid cap equities have had significantly higher returns than both small cap and large cap equities and, today, the potential for rising interest rates, lower corporate tax rates, and economic growth could provide an immediate boost for this area of the market. Eugene Krishnan, Portfolio Manager/Analyst on Lazard's US Small Mid-Cap Equity team evaluates the distinct outperformance of small-mid caps within different market environments as well as the opportunity for active managers.

Featured Speaker

Eugene Krishnan
Senior Vice President, Portfolio Manager/Analyst
Eugene Krishnan is a Senior Vice President and Portfolio Manager/Analyst on the US Small-Mid Cap Equity team. He began working in the investment field in 1998. Eugene rejoined the firm in 2012, after previously serving as a Research Analyst from 2001 to 2009. Prior to joining Lazard in 2001, Eugene co-founded Carpe Diem Innovations, an incubator for Fortune 500 new ventures, and worked as a strategy consultant at PricewaterhouseCoopers. He has a BS in Chemical Engineering from Columbia University.

Global Outlook 2017

Monday, December 19, 2016

This past year was filled with surprises for global investors, highlighted by the United Kingdom’s vote to leave the European Union, Donald Trump’s US presidential election victory, and Italian voters’ rejection of constitutional reforms. As we look forward to 2017, it is worth noting that on many levels expectations have not changed meaningfully. However, the logic behind our expectations has changed. In the year ahead, while we have a generally positive outlook for growth we can also expect policy changes to create winners and losers across the investment landscape. Ronald Temple, Co-Head of Multi Asset and Head of the US Equity for Lazard Asset Management, discusses his outlook on the global economy in 2017 and implications for investors.

Featured Speaker

Ronald Temple, CFA
Managing Director, Co-Head of Multi-Asset and Head of US Equity
Ronald Temple is a Managing Director and Co-Head of Multi-Asset and Head of US Equity, responsible for oversight of the firm's multi-asset and US equity strategies as well as several global equity strategies. He is also a Portfolio Manager/Analyst on various US and global equity teams. Since joining Lazard in 2001, Ron has developed a reputation as an authority on the global financial crisis and the secular changes under way in the global economy. Beyond his day-to-day responsibilities, Ron engages extensively with a wide range of Lazard's investment professionals across the equity and debt arenas to leverage the firm's insight broadly. Ron's unique perspectives in part arise from his broad range of previous experiences in financial services. Prior to joining Lazard, Ron was a Director and Buy-Side Equity Analyst at Deutsche Bank AG. In a previous role at Deutsche Bank, he oversaw the implementation of merger related synergies on behalf of Deutsche Bank's CEO of the Americas after Deutsche acquired Bankers Trust. During the Asian debt crisis, Ron served as business manager for Deutsche Bank's CEO and Deputy CEO of Asia/Pacific in Singapore, a position in which he supervised the Investment Banking Division and executed on strategic business changes for the Group. He also held a previous role in a global business manager function for Deutsche Bank's foreign exchange business. Ron has had extensive experience developing and enhancing risk management processes at Deutsche Bank, Bank of America NT&SA, and Fleet Financial. Ron began his career trading cash and derivatives in the interest rate and foreign exchange markets at Fleet Financial Group. Ron earned his Master in Public Policy from Harvard University and his Bachelor of Arts in Economics and Public Policy Studies magna cum laude from Duke University. He is a member of the Council on Foreign Relations, the Economic Club of New York, Duke University’s Graduate School Board of Visitors and the New York Society of Security Analysts (NYSSA). He also served as a trustee of the Link Community School in Newark, New Jersey, from 2006-2014, as a member of the Trinity Board of Visitors at Duke University from 2006-2012 and a member of the Financial Accounting Standards Advisory Council from 2013 to 2015.

Italian Constitutional Referendum Basics for Investors

Wednesday, November 16, 2016

The Italian referendum on constitutional reform may be the next source of geopolitical risk in Europe. However, we believe that, if successful, the reform should simplify the process for laws to be approved in Italy and ensure government stability—this would help implement much-needed structural reforms to address economic issues. Giuseppe Ricotta, Portfolio Analyst on Lazard’s Multi Asset team, reviews the merits of the proposed reform and discusses the implications for investors.

Featured Speaker

Giuseppe Ricotta, CFA, FRM
Senior Vice President, Portfolio Analyst
Giuseppe Ricotta is a Senior Vice President and Portfolio Analyst on Lazard's Multi-Asset investment team, specializing in strategy research. Prior to joining the Multi-Asset investment team, Giuseppe worked in Marketing, where he led several projects for the strategic marketing of Lazard's investment strategies. He began working in the investment field in 2004. Prior to joining Lazard in 2007, he worked at American Express Bank, where he was a senior manager responsible for institutional marketing and sales support for the firm's offshore funds platform. Prior to that, he worked at the Telecom Italia Group. Giuseppe has an MBA (Hons) from Fordham University and an MS (Summa Cum Laude) in Electronic Engineering from the University of Palermo in Italy.

Emerging Markets Reforms: Short-Term Pain, Long-Term Gain

Wednesday, September 28, 2016

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Real Estate: A New Sector in Global Benchmarks

Monday, August 22, 2016

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The Art and Science of Volatility Prediction

Thursday, June 30, 2016

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Brexit Basics for Investors

Friday, May 27, 2016

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Is the Market Setting Up for Value's Comeback?

Friday, March 11, 2016

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The Opportunity in US High Yield

Wednesday, February 17, 2016

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Global Outlook for 2016

Monday, December 21, 2015

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Liquid Alternatives: The Next Wave in Asset Allocation

Thursday, November 19, 2015

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China’s Onshore Stock Market: Fiction, Fad, or the Future?

Wednesday, September 23, 2015

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Capturing the Small-Cap Effect

Wednesday, August 26, 2015

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Health Care Innovation: Disrupting the Paradigm

Wednesday, June 24, 2015

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Understanding the Effects of FX

Wednesday, May 27, 2015

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Interpreting Active Share

Tuesday, March 17, 2015

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