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  • Flashing lite - Ever-greater issuance of 'covenant-lite' loans is a warning sign for markets

    Flashing lite - Ever-greater issuance of 'covenant-lite' loans is a warning sign for markets

    Jamie Lowry

    11/04/2014

    A friend on secondment in Los Angeles emails with an example of US hospitality – although the precise term he uses in connection with a recent offer of a mortgage with a 3.5% deposit, 4.5% interest fixed for 30 years and a salary multiple of 5.5x is “stupid lending”. “Repayments equate to 60% of my monthly pay,” calculates our Green-Cardless chum, “and that is considered normal!”

  • Electric blues - Reasons to worry about the US market include its current valuation of Tesla

    Electric blues - Reasons to worry about the US market include its current valuation of Tesla

    Jamie Lowry

    10/04/2014

    In Forever with blue genes, we quoted some observations of one of The Value Perspective’s favourite investors, Seth Klarman, on current market valuations. One “fashionable” company the Baupost Group founder has picked out by name as having “nosebleed” valuations is Tesla so we thought we would take a closer look at how the electric vehicle manufacturer comes to be valued as highly as it does.

Cazenove Capital funds have changed names

All of the Cazenove Capital funds have changed their names. View the full details.