Live From the Desk

VXFD & VGF – the lowdown

Wherefore art thou QE? Much like a long-term relationship you wanted to end – and now miss, once it’s over – quantitative easing is done. Fear not, though, life will go on… So, what to do in a market without stimulus? In the Vertex Fund and Vertex Growth Fund we’ve been adding equities in Europe …

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Vertex Value Fund – quick ‘n dirty

The back drop for US equities is perhaps the best we’ve ever seen. The 10-year bond trades at 50 times earnings with no growth. Stocks on the other hand are trading at 14 times earnings and company earnings are growing. Stocks are poised for a major multiple-expansion, but even without that the earnings yield is …

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