Managing Directors

APRIL 2020

CARES Act: Congress Approves Economic Relief Program for Individuals and Families

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. In the wake of the coronavirus public health crisis and associated economic fallout, this federal government support is designed to provide support to both individuals and businesses, including changes to tax and retirement account policies.

APRIL 2020

The Road to Recovery From Alphabet City

With so much being written and said about the rapidly changing market environment, we will not attempt to break any new ground on the key issue—the magnitude and duration of the COVID-19 outbreak. We’ll leave that to the infectious disease experts who, not surprisingly, remain sharply divided on the likely trajectory. While we are surely still in the early stages of a recession, there will just as surely be a recovery.


In Search of Quality-Compounder Companies in the Asian Equity Markets

US equity multiples are at historically elevated levels. With the S&P 500's impressive 30% return in 2019, a majority of that return derived from multiple expansion. As global investors, the Athena Research team wondered whether there might be a market where the potential for shareholder value creation is comparable to that of the US, but with more favorable valuations?


Part I: Record Economic Expansion and Reduced Recession Indicators Drive Consensus Views for 2020

Doug Cohen, managing director, portfolio management introduces us to consensus views for 2020 that prolong the longest US economic expansion on record extending into its 12th year. New year consensuses favor dwindling recession indicators and stabilized credit conditions. In Part I of his observations, Doug also shares his take on the Fed, election odds, and investor sentiments around the bull market.


Part II: Record Economic Expansion and Reduced Recession Indicators Drive Consensus Views for 2020

In the second and final synopses of his market outlook, Doug Cohen, managing director, portfolio management addresses lingering consensuses surrounding geopolitical shocks, overseas market performance, stocks and earnings, and trade policy concerns.