Why Don’t More Investors Question ROE Figures?

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Return on equity (ROE) is one of the foundational measures of profitability in finance. It is taught in many first year finance courses in college, it’s a staple in the CFA curriculum, and is widely used as a “go-to” indicator of how profitable a firm or an industry is in the investment management profession. In many industry groups ROE […]

Knowledge has Outperformed by 6% Over the Past Year

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Over the past year the Gavekal Knowledge Leaders Developed World Index (KNGLX) has gained 5.62% while the MSCI World Index is down -0.46%. Cumulatively on a total return basis, KNLGX has almost quadrupled the performance of the MSCI World Index since 3/31/2000. Since 3/31/2000, KNLGX is up over 200% while the MSCI World Index is up just 55%. A […]

Knowledge Leader Spotlight: Siemens

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German industrial conglomerate, Siemens, made a splash last Friday when it announced the combination of its wind turbine business with Spanish renewables company, Gamesa. With the latter’s already significant exposure in developing markets such as India, the deal was well received (judging by the 3% daily gain in Siemens’ stock price). While Knowledge Leaders are […]