Archegos, deleveraging and the instant bear market

12 August 2021Fundscounterparty credit risk, equities, hedge fundsNick Dunbar

Using Credit Suisse’s Archegos report, we explore how without any fundamental change in corporate earnings or economic sentiment, deleveraging mechanisms can produce an ‘instant bear market’

Where would the market be without share buybacks?

4 January 2019Articlesequities, S&P 500Nick Dunbar

The decline in equity markets seen in the last few months would have been worse without the countervailing effect of buybacks. But by how much?

Giants of the S&P500

4 January 2016Articlesequities, equity indices, fund management, inequality, Russell 3000, S&P 500Nick Dunbar

In 2015, size equalled success in the stock market. But did benchmarking make this a self-fulfilling prophecy? Let’s start by looking at the market capitalisation of S&P 500 companies at the end of the year, with colours according to price change.