Riddle No. 2: Why are energy funds not the king of new investment dollars?
Leverage can distort managers’ results, making them look better than they are, its study charges.
Corporate profits are falling back to a more normal pace (absent some nightmare scenario intruding).
Outpaced last year, high yield is in solid shape at a time when stocks may come back to earth, the firm argues.
It’s not pretty: History shows that this bad combo pares equities’ median returns by 2%, Goldman says.
UBS touts a list of what it thinks are the best companies able to keep demand cranking even as they charge more.
The California county pension program says his Bridgewater Pure Alpha has been dogging it since 2015.