|
Wednesday, 18 January 2012 16:00 EST - New York
(Wednesday, 18 January 2012 21:00 - London)
(Wednesday, 18 January 2012 22:00 - Germany)
A Broader Context for Understanding Bubbles, Crises, and Panic
Since 1997, investors have experienced a series of bubbles, crises, and panic, which have caused market volatility and unintended consequences as capital has shifted rapidly between perceived risk and perceived safety. We believe that opportunities exist for those investors who can draw from history and challenge conventional wisdom amid today's market environment. Please join David Cleary, Managing Director and Portfolio Manager/Analyst, and an experienced global asset allocation professional, as he provides his perspective on the macroeconomic environment for 2012 and where he sees opportunity beyond the bubbles.
Featured Speaker:
David Cleary
Managing Director, Portfolio Manager/Analyst
David Cleary is a Managing Director of Lazard Asset Management LLC. David provides oversight and management to Lazard's U.S.-based fixed income and asset allocation platform. Additionally he is directly responsible for the management of the Lazard Capital Allocator Series ("LCAS"). LCAS is a global tactical asset allocation investment strategy. David works on asset allocation modeling and total portfolio risk management and is a member of the LCAS Advisory Board. He is also a member of the Lazard Investment Council. Previously, he spent nine years as a senior fixed income portfolio manager at Lazard with a focus on risk control, sector allocation and total portfolio management. David began working in the investment field in 1987. Prior to joining Lazard in 1994, David worked as a portfolio manager with Union Bank of Switzerland and an assistant treasurer with IBJ Schroeder, both primarily in fixed income asset management. He has a BS from Cornell University.
 View Presentation
|
Opportunity, Austerity, Growth, and Inflation:The Road Ahead
2011 was a year largely marked by macro uncertainty. As we look ahead to 2012, we believe that much of this uncertainty will continue, as developed markets remain largely focused on balancing austerity measures with the need for growth. However, emerging markets appear to be at a turning point with regard to inflation. Against this backdrop, we believe fundamental research and security selection will be pivotal for investors in the new year. Please join Ron Temple, Managing Director, Portfolio Manager/Analyst on several of Lazard's U.S. and global equity strategies as he provides context for debt sustainability, and reviews the issues facing Europe, the United States, and the emerging markets. He will also discuss the potential implications for investors going forward.
View Presentation
 Download the call summary.
Finding Growth in a Slow Growth Environment
Given the current low growth expectations for global capital markets, companies are being challenged to find ways to sustainably grow their business and enterprise value. There are many levers available for companies to do so, but we believe that some are more sustainable and better indicators of future success. Join Chris Blake, Managing Director, Portfolio Manager/Analyst on Lazard's U.S. Equity Platform, as he explores the interplay among the P&L, balance sheet, and cash flow statements, explains how earnings can be driven by these and other factors, and discusses which elements we believe investors may want to focus on to identify the eventual winners.
View Presentation
Download the call summary.
Emerging Markets: Risk or Opportunity?
Many emerging market currencies have experienced a dramatic sell-off in recent weeks driven by developed market sovereign debt crises as well as fears of a global economic slowdown. Given this global macro backdrop and market fear and uncertainty, is it time to reassess the fundamental outlook for emerging markets?
View Presentation
Download the call summary.
Gripped by Fear
Amid all of the recent market volatility, many key data points that have historically been reliable indicators of economic direction are currently pointing to very different outcomes, ranging from inflation, a slow recovery, a soft patch, or a deep recession. This extremely conflicting data has left many investors wondering which indicators are correct and which way markets are heading.
View Presentation
Download the call summary.
Low Volatility Equity Investing: Evolutionary not Revolutionary
Traditional asset allocation models are being re-evaluated as investors look for a more dynamic approach against the uncertain economic and geopolitical backdrop and ongoing volatility in equity markets. The world is grappling with an era of deleveraging, the spectacular growth of the developing world, and challenges to political and financial institutions at a global, regional, and domestic level. Please join Craig Scholl, CFA, Director, Portfolio Manager/Analyst on Lazard's Quantitative Equity team as he discusses how low volatility equities could form one part of a credible solution.
View Presentation
Download the call summary.
Half Time Report: Understanding the Oscillating Waves of Fear and Greed
Global capital markets continue to be volatile in reaction to economic events that are causing markets to radically shift between risk-on and risk-off assets. With much uncertainty around sovereign debt crises, global growth expectations, emerging market inflation, and other important issues, we believe that much of the opportunity for investors can be found within the wide dispersion that is occurring around major market indices. Please join David Cleary, CFA, Portfolio Manager/Analyst, as he addresses these major themes and how tactical investing in this rapidly changing market environment can be advantageous if investors can identify the true beneficiaries of the next wave in the market.
View Presentation
Download the call summary.
The Invisible Han of the Market: Ten Perspectives on China
China's economic transformation has been an engine of growth for the global economy. Many investors want to participate, but others consider China's socio-economic model unsustainable. Please join Kevin Matthews, CFA, Director, Portfolio Manager/Analyst on Lazard's International Equity Select team as he discusses his observations from his recent trip to China.
View Presentation
Download the call summary.
Breaking Down Global Barriers: Benefits and Challenges of Investing in the Broadest Opportunity Set
We believe unconstrained global equity portfolios offer many advantages over the traditional regional approach, most importantly higher levels of alpha, as the broad opportunity set enables one to maximize the potential of stock selection. Therefore, carving out space for a global equity allocation and removing benchmark-imposed constraints on portfolio managers may allow them to enhance returns. Please join Patrick Ryan, CFA, Director, Portfolio Manager/Analyst on Lazard's global equity teams as he addresses how to maximize the potential benefits of unconstrained global portfolios.
 View Presentation
Download the call summary.
Adjusting to the New Landscape of the Municipal Market
Since the collapse of the monoline insurance companies during the financial crisis, the municipal securities market has undergone a structural adjustment, as lenders and borrowers have had to re-evaluate previous assumptions about this marketplace. Additionally, the municipal market has been quite volatile as we have now seen 22 consecutive weeks of net outflows. John Senesac, Portfolio Manager/Analyst, will discuss the current landscape of the municipal bond market including current volatility, fund flows, and how headline news provide an opportunity for investors to potentially capitalize on the sound issuers in the market.
View Presentation
Download the call summary.
It Is Different This Time
The global investment landscape continues to evolve as we move beyond the financial crises and witness the emergence of developing economies. Please join Nicholas Bratt, Managing Director, Portfolio Manager/Analyst as he addresses why we believe this may be an inflection point for investors for the decades ahead. Topics will include: debt overhang, globalization, the growing importance of emerging markets, the changing economic and geopolitical landscape, and why we believe it is truly different this time.
View Presentation
Download the call summary.
Emerging Markets Debt: A Strategic or Tactical Asset Class?
The emerging markets continue to garner headlines as investors increasingly recognize the potential long-term growth trends of the asset class. Additionally, as many of these markets continue to develop, they often represent very different structures and opportunities compared to developed markets.
View Presentation
Download the call summary.
Kick-off Report: Engaging Risks and Finding Opportunities in 2011 (January 2011)
Download the presentation PDF.
Download the call summary.
 Play audio.
The European Debt Crisis, Quantitative Easing, and Basel III: An Outlook for 2011 (December 2010)
Download the presentation PDF.
Download the call summary.
Play audio.
Shifting Fundamentals in the Oil and Gas Industry (November 2010)
Download the presentation PDF.
Download the call summary.
Play audio.
|
