Lawrence Park Asset Management

Lawrence Park Asset Management (“LPAM” or “Lawrence Park”) is an independent investment management firm based in Toronto, Canada. LPAM is dedicated to creating world class alternative investment products specializing in Fixed Income and Credit.

The team at Lawrence Park brings over 70 years of combined international and domestic experience in the global credit markets. Our disciplined approach, market insight, and dedication to sound risk management gives our funds the best possible opportunity to deliver consistent institutional class returns.

Lawrence Park Asset Management proudly manages investor assets across three separate Alternative Credit hedge-fund and mutual fund mandates.

Cash and Savings

How Much Cash is Too Much in Your Portfolio? – Globe and Mail

“There are better things out there than money market accounts,” says Andrew Torres, Chief Investment Officer at Lawrence Park Asset Management in Toronto. The key is finding a balance between being too cautious – in other words, having cash sitting there doing nothing – or the opposite, in which clients scramble to get their money working for them through riskier plays. Investors should look for what Mr. Torres calls the “sweet spot of liquidity versus volatility.”

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S&P Forward Earnings Yield

Beware the Downside of Dividend Income

The Wall Street Journal recently showed a chart comparing the forward earnings yield of the S&P 500 to that of the 10-year U.S. Treasury yield over the past 30 years. Around 2002-2003, the two yields were almost identical at 5%; today, the proxy yield for stocks is three times that of U.S. 10-year treasuries suggesting, at least by this valuation metric, that stocks are currently cheaper than bonds.

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