Consensus is a wonderful thing, not because it necessarily forms around a correct view of the world, but because it opens up investment opportunities for those prepared to take a contrarian approach.
An inevitable by-product of consensus in financial markets is that alternative outcomes, however plausible, become under-priced. A case in point is the outlook for long-term interest rates. That US...
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Global economic cycle is among the longest in history
Fixed income manager takes a more cautious approach
Duff & Phelps IM selected for real estate vehicle