By Jacob Miller, Chief Solutions Officer, Opto Investments The Greatest Tailwind Ever Told U.S. equities haven’t just been good for the last 40 years—they’ve been gift-wrapped, thanks to three macro forces that lined up like a NASA launch window: Interest rates that fell almost uninterrupted from Volcker’s 20% peak to near-zero A historic […]
By Fernando Walter Lolo, CAIA The objective of this analysis is to provide a summarized framework of key drivers to trade cryptocurrency, supporting Chief Investment Officers (CIO), portfolio managers, crypto hedge funds (HF) traders, wealth managers, allocators, practitioners, and investors in their job. This analysis includes my own calculations, assessments, and estimates, which […]
By Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDPManaging Director, Global Content Strategy, CAIA Association Asset-based lending (ABL) has undergone a quiet but significant transformation in recent years. Once viewed primarily as a capital source of last resort, used only when traditional cash flow-based financing wasn’t available, the asset class has evolved into […]
By Andreas Rothacher, CFA, CAIA, Head of Investment Research, Complementa AG & Thomas Breitenmoser, CFA, CAIA, Head of Investment-Consulting, Complementa AG Allocations, backdrop and historical development The assets under management in alternative assets such as private equity, infrastructure, and private debt have increased significantly over the past decade. This is reflected in institutional […]
By William J. Kelly, CAIA, Founder & Managing Member, Educational Alpha LLC While clever headlining (at least IMHO!) has been a hallmark of this newsletter, some matters are just too important to be subjected to whimsical double entendres. For those who have chosen to get their daily dose of information about the BBB […]
By Marko Papic, Chief Strategist, BCA Research & Author of Geopolitical Alpha Blaming geopolitics for one’s poor performance has become a rite of passage for many investors, both public and private. Just do a quick survey of the quarterly “LP letters” bemoaning poor performance or spend some time sitting in on a […]
Brigette Lumpkins, CAIA, Client Portfolio Manager, Westfuller All investments have impact. They may impact society, the economy, infrastructure, or the shape of an industry. Investors are increasingly focused on putting their financial assets to work for more than financial return. Over the past two decades, impact investing has evolved from a niche […]
By Yannick Laurent, Research Analyst, YLF The trade war has dominated discourse in the financial industry, and general media, over the last few weeks. The markets have been in turmoil, with major indices falling dramatically from their recent highs. This is unsurprising, given the intense disruption and uncertainty associated with upending a […]
By Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP Managing Director, Global Content Strategy, CAIA Association Like the Gallagher brothers, we’re preparing for the unknown (read: they’re back on tour, we’re in a trade war) and are moving on from the familiarities of the past (read: welcome back Oasis, goodbye globalization). The Brains I Had Went […]
By Steve Novakovic, CAIA, CFA, Managing Director of Educational Programs, CAIA Association & John L. Bowman, CFA, Chief Executive Officer, CAIA Association Stop three of eight on our world listening tour took us to Toronto. Even though our last roundtable in Los Angeles was only four weeks ago, it feels much further […]