The current hype about two-sided digital platforms, blitzscaling and winner-takes-most markets has fuelled a surge in IPO listings. It is perhaps unsurprising that this exuberance, especially when combined with inordinate liquidity, record levels of VC activity and multiple fundraising rounds, has often produced stratospheric valuations that are difficult to reconcile with free-cash-flow (FCF) fundamentals. As […]
continue readingWhile the US is ‘back from the brink’ and markets have returned to positive territory in 2019, this cycle is well into its late innings. As discussed in this article from GSFM’s investment partner, Epoch Investment Partners, written by CEO and co-CIO Bill Priest, there are three reasons to maintain a cautious investment stance. The […]
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01
Jul
2019
China 2025 is perceived as an existential threat to US commercial and technological leadership. This raises the risk that the Trump administration could conclude that its best response is to decouple much of the US supply chain from China. As discussed in this paper from Epoch Investment Partners, penned by CEO and co-CIO Bill Priest […]
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30
Jan
2019
In a recent series of presentations to advisers in Australia, industry veteran Epoch’s CEO and co-CIO Bill Priest, discussed the new world order, in which bits replace atoms, tech is the new macro and companies need to evolve to stay relevant. Global businesses have arguably entered a period of unprecedented innovation and disruption, one where […]
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23
Oct
2018
Following the US election, Epoch Investment Partners (Epoch) hosted a webinar to discuss the implications of the US presidential election result. It was hosted by Bill Priest, co-CIO and CEO, and Kevin Hebner, Managing Director of Global Portfolio Management. Their views are outlined in the following article. New York-based Epoch manages the Grant Samuel Epoch […]
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16
Nov
2016
There are so many ways companies, sectors and economies can be viewed: many investors study traditional accounting metrics such as price/earnings (P/E) and price/book value (P/BV) ratios of companies and sector. Economic data is put under the microscope. On the other hand, Epoch Investment Partners (Epoch), manager of the Grant Samuel Epoch Global Equity Shareholder […]
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24
Oct
2016
Speaking from New York by video link at the PortfolioConstructionForum Conference in Sydney yesterday, Mr Bill Priest, CEO of Epoch Investment Partners said that active managers who focus on the short term negate the longer-term advantages of active asset management. “While active managers may be under pressure from passive and low cost approaches, they must […]
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25
Aug
2016
Bill Priest, CEO and co-CIO at New York-based Epoch Investment Partners, manager of the Grant Samuel Epoch Global Equity Shareholder Yield Funds, provides an update with two subjects — Epoch’s capital markets outlook and their view of the implications of Brexit; the latter is inextricably tied to the former. We analyse the potential impact of […]
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18
Jul
2016
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