Salient to Investors: Andrew Garthwaite et al at Credit Suisse say there is a 25% chance Scotland will choose independence on September 18, while markets will price in a 35% chance, so recommend buying Scottish stocks 2 days before the vote because investors tend to overact to political uncertainty. If independence wins, they
READ MORE... →Salient to Investors: The FTSE 100 Index is within 0.1% of its 1999 high, after which it fell for 3 years, The cost of hedging against losses in the FTSE 100 is close to a 2-year high. Alan Higgins at Coutts is not overweight UK equities and said the FTSE
READ MORE... →Salient to Investors: Jay Pelosky at 2Z Advisory says investors should focus first on where there is flexibility by policy makers, and the best places to invest in order are: Japan has twin engines of fiscal and monetary policy. UK government has made it clear they will not move off austerity but
READ MORE... →Salient to Investors: The FTSE 100 is at 11.9 times estimated earnings versus an average of 11.3 over the past 7 years. Bob Parker at Credit Suisse Asset Mgmt said equities are the most attractive asset class by default, valuations are still reasonably cheap, and Germany, America and Japan are
READ MORE... →Salient to Investors: From January 1, 2013, UK advisers will be banned from accepting commissions from asset managers and instead charge clearly delineated fees. In 2009, the Review of Financial Studies said the cost of investing in British funds is higher than anywhere in the developed world aside from Scandinavia and Canada – and average 2.21 percent of
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