Lazard Insights

Most Recent Insights

Europe: The Recovery No One Wants to Talk About

Thursday, June 29, 2017

What a difference a year makes. After an era of slow growth combined with a somewhat tepid outlook, we believe Europe and European companies may now be entering a sustainable period of recovery. Key European economic leading indicators are clearly improving alongside European GDP growth. John Reinsberg, Deputy Chairman, analyzes the drivers of this recovery, contrasting macroeconomic observations with the view from the bottom up.

Featured Speaker

John R. Reinsberg
Deputy Chairman, International and Global Strategies
John Reinsberg is Deputy Chairman of Lazard Asset Management responsible for oversight of the firm's international and global strategies. He is also a Portfolio Manager/Analyst on the Global Equity and International Equity portfolio teams. He began working in the investment field in 1981. Prior to joining Lazard in 1992, John was Executive Vice President with General Electric Investment Corporation and Trustee of the General Electric Pension Trust. He was also previously with Jardine Matheson (Hong Kong) and Hill & Knowlton, Inc. John has an MBA from Columbia University and a BA from the University of Pennsylvania. He is an Overseer of the University of Pennsylvania School of Arts and Sciences, Chairman of the University of Pennsylvania Huntsman Program Advisory Board, a Trustee of the NPR Foundation (National Public Radio), a Member of the Board of Directors of the Alliance for Cancer Gene Therapy, and a Member of the Board of Directors of the U.S. Institute (Institutional Investor).

Previous Insights

MENA Equities: An Overlooked Dimension within Emerging Markets

Friday, May 19, 2017

For emerging markets investors, MENA is becoming a more significant part of the opportunity set. MENA governments are committing a large amount of capital to drive growth, while the emergence of an increasingly educated population should boost long-term economic prospects. Walid Mourad, Portfolio Manager/Analyst on the Lazard Middle East North African Equity team, reviews the region’s structural advantages and differentiators, economic reforms, and representation in emerging markets indices.

Featured Speaker

Walid Mourad
Senior Vice President, Portfolio Manager/Analyst
Walid Mourad is a Portfolio Manager/Analyst on the Middle East North African Equity team. He began working in the investment field in 2003. Prior to joining Lazard in 2014, he was a Portfolio Manager and Senior Investment Analyst at ING Investment Management Middle East, co-managing the ING MENA Fund. Previously, Walid was a regional equity analyst at NBD Investment Bank’s Asset Management division, responsible for the coverage of KSA, UAE, Qatar, Jordan and Lebanon. Prior to that, Walid worked as a management consultant for one of the top consulting companies in Lebanon, where he assessed and valued several companies in several industries and regions. In addition, he worked on the strategy formulation and organizational restructuring tasks related to these regional companies. He holds a Masters Honors Degree in Economics from the Saint Joseph University in Lebanon.

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.

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

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Italian Constitutional Referendum Basics for Investors

Wednesday, November 16, 2016

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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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