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General

Seeing is believing. It’s a Fact(or).

Constructing a successful investment portfolio requires not only a consistent measure of current values and forecast expected returns across the investible universe but also a clear understanding of what are the causal drivers of these expected return factors. At Libra we offer clients access to this proprietary content via the Apollo EDGE platform but we have also created our own Smart Alpha Strategy which is also available on request.

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View from the Edge

European Banks are back on the menu

Since we ‘called the bottom’ for the sector as you can see from the blog comment on April 14 and the Apollo Margin of Safety chart, the SX7P has rallied from €140 to €157 (12%) but as of today, the sector has not only come back to value (the Apollo FV for the sector is €157.35) but broken above that level and the upper boundary of the FV range.