Morgan Creek Capital Management examines how Europe’s sovereign debt crisis, central bank actions, and slowing global growth reshape investment risks and opportunities. It argues short term volatility masks compelling long term value, while disciplined diversification and hedged strategies may better navigate an uncertain macroeconomic environment.
Q2 2012 Market Review & Outlook
Morgan Creek Capital Management
Mark Yusko
Research
14 Pages
Key Takeaways
European Value: Long term investors may find compelling opportunities after many European equity markets fell more than 50%, with Greece declining more than 90%.
Risk Management: Morgan Creek Opportunity Fund outperformed the MSCI World Index by 700 bps during May while hedged strategies sought to cushion volatility amid global market declines.
Bond Outperformance: Long duration bonds gained 7.3% during Q2 2012 while the S&P 500 fell 2.8%, highlighting the market's flight toward perceived safe havens.
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