Book Review: The Power of Money
The Power of Money: How Governments and Banks Create Money and Help Us All Prosper. 2023. Paul Sheard. Penguin Random House. In The Power of Money: How Governments and Banks…
Commercial Real Estate Today: A Four-Sector Outlook
Now that individual investors can access direct real estate investments, what should they keep in mind regarding the main US commercial real estate (CRE) sectors and their respective outlooks? To…
Resistance Training: Testing Market Resilience
Markets were generally buoyant in June and July as participants focused on the positives and largely ignored higher risk-free rates and other phenomena with negative implications for asset prices. The…
ESG Affirmations and Surprises: Asset Managers Look to the Future
The progression of ESG investing in the global asset management community continues to be a source of fascination and a lightning rod for conversation, engagement, and innovation. As the “Index…
Fed Chair Congressional Testimony: Has the Market Played Favorites?
Stock investors loved Alan Greenspan because the policies he pursued during his tenure as chair of the US Federal Reserve benefited the equity markets. At least that was the conventional wisdom.…
When Hindsight Becomes Foresight: Replicating Investment Performance
Introduction We have analyzed dozens of public and private market investment strategies, such as merger arbitrage and private equity, respectively, over the last few years, and one common theme has…
The Predictive Power of the Yield Curve
“ur mind is strongly biased toward causal explanations and does not deal well with ‘mere statistics.'” — Daniel Kahneman, Thinking, Fast and Slow The predictive power of the yield curve…
Book Review: The Worth of Art
The Worth of Art: Financial Tools for the Art Markets. 2023. Arturo Cifuentes and Ventura Charlin. Columbia University Press. “Sorry, but we do not have a magical equation for predicting…
Commercial Real Estate Today: An Overview
Our primer on commercial real estate (CRE) investing explored the core components of real estate investing decisions. But what about CRE investing in the current environment? How has the post-pandemic…
Factor Portfolios and Cap-Weighted Benchmarks: Bridging the Tracking Error Gap
Despite a brief return to normalcy in 2022, equity factor strategies have experienced performance challenges relative to cap-weighted indexes since the COVID-19-induced market crash of 2020. While there are many…
