In Brief

In Brief

Articles published here are matters of opinion only and as suggested are ‘briefings’ on market issues and should not be construed as advice or form the basis of investment decisions without consultation with your financial advisor.
PETRA

PETRA

PETRA: Our proprietary framework for analysing risk-adjusted returns across asset classes

Complementary Risk and Return

Complementary Risk and Return

Concentrated and yet Diversified: Bonds are contractual agreements by companies to borrow money from investors, pay interest on that money and return it at a specified date in the future.

Investing across the business cycle

Investing across the business cycle

The Tellsons investment team aims to look across many years to generate stable returns from the combination of both bond and equity investments. The horizon we find useful is sometimes referred to as ‘the business cycle’ or economic cycle.

Earnings & Valuation: One Year On

We wanted to revisit this theme which we first commented on last November (2013). At the time, we cited an historically expensive valuation of the S&P500 on the measure of a cyclically-adjusted Price/Earnings of 24 times, (CAPE as devised by Robert J. Shiller, Professor of Economics at Yale University).

Earnings & Market Valuation

Earnings & Market Valuation

November 2013: Earnings per share of the S&P 500 in the US grew less than a real 2% for the 12 months to June driven by sales growth of a mere 1.1% in real terms. The long term historical average for the EPS growth of the US market (12 month rolling) has been nearer to 7%.

Defensive, Income, Growth

Defensive, Income, Growth

Endeavour pursues defensive, income and growth simultaneously in one integrated investment process. This is achieved through individual investment selection in the context of the broader economic outlook.

Endeavour is our only fund, our money's invested in it

so our focus and interests are uniquely aligned with yours

Returns on Capital Employed

your stake in a world at work

Website Terms of Use

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