Steve summarizes his quarterly update on the Gavekal Knowledge Leaders Strategy. In this video, he shares our macro views on valuations of the global equity markets and why divergent monetary policy is driving the current deflationary pressures.
2015 has so far thrown investors some curve balls in just three short weeks. Fortunately, one trend has remained firmly intact this year which is the outperformance of global Knowledge Leaders.
GaveKal Capital’s Jennifer Thomson checks in on how our own investment in innovation is performing, comparing the new GaveKal Knowledge Leaders Indexes to the leading mutual funds in their categories.
Autodesk (Ticker: ADSK) is a design software and services company that serves customers in various fields ranging from architecture, engineering, construction, manufacturing, digital media and entertainment. We think there is a positive case to be made for Autodesk in 2015, especially when one properly accounts for their vast intangible capital reservoir on their balance sheet.
GaveKal Capital’s Steve Vannelli discusses the GaveKal Knowledge Leaders Emerging Markets Index, explaining how stocks are selected for inclusion in the index and providing a new performance update.
As we never tire of saying, we believe that companies that continually invest in knowledge-intensive activities such as research and development and have deep reservoirs of intangible capital on its balance sheet are structurally misunderstood and undervalued in the financial community.
For most investors, investments in research and development (R&D) and investments in other intangible assets such as brand building, employee training and codified information are overlooked and misunderstood. Current business accounting standards contribute to this misunderstanding by treating intangible investments as current period expenses rather than as the capital investments they truly are.
We have introduced our knowledge leader concept to our readers over the past few weeks (click here, here, here and here for more information). Today, we thought we would check in on how knowledge leaders (i.e. leading, innovative firms with a deep intangible capital reservoir) have done relative to knowledge followers (i.e.
Firm Launches First Strategic Beta-Style Index Family to Track World’s Leading Innovators DENVER, Colo., September 17, 2014 – GaveKal Capital today introduced the GaveKal Knowledge Leaders Indexes, the first family of indexes designed to track the world’s leading innovators.