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Facebook taking a Shotgun Approach to Capital Allocation, says RECM

22 April 2014

With technology companies much in the news recently, RECM’s Paul Whitburn says valuing companies such as Facebook involves more questions than the asset manager is comfortable with. While Facebook’s share price continues to run, RECM prefers to invest in companies that have proven their ability to generate long-term sustainable cashflow, particularly when these shares are out of favour and are a cheap as a result.

How can you prepare your clients for a possible turn in the interest rate cycle?

22 April 2014

Consumers have had significant relief over the past few years with interest rates being close to their lowest levels in almost 40 years. However, with the first 0.5% increase in interest rates behind us and an expectation of further interest rate hikes to come, it is important for investors to position their portfolios appropriately.

Draft regulations for hedge funds welcomed

17 April 2014

Draft regulations published yesterday by the National Treasury and the Financial Services Board (FSB) including hedge funds under the existing Collective Investment Schemes Control Act (CISCA) have been welcomed by Novare Investments.

Fundamentals Support Our Positive US Outlook

16 April 2014

The US equity market has benefited over the last five years from a steadily improving domestic economy and a healthy combination of earnings growth and multiple expansion. Despite the market’s run, we continue to believe the fundamental case for the US economy and the US equity market remains largely intact. In 2013, we saw strong corporate earnings reports, with many companies reporting record levels of earnings and free cash flow. On the economic front, the data generally continue to improve; unemployment rates are at a five-year low and consumer spending data have been strong. US consumers have generally benefited from the improving economy and low interest-rate environment, increasing their savings rates and lowering their debt costs.

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The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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