The hedge fund industry is reinventing business models and best practices to address regulatory changes and investor demands for enhanced fund transparency, liquidity, and efficiency. Investors, fund managers, and regulators are looking to third-party administrators to provide objective risk assessment and reporting.
Tail risk can be reduced by improving a portfolio's overall risk-return characteristics. Often this approach will blend several distinct strategies: broader diversification, volatility-based risk management, and drawdown control, perhaps combined with active management strategies such as managed futures or low-beta equities.
The authors examine a range of topics, including the narrowing gap between returns on different asset classes, signs of the coming economic upturn, the strategy of alternating between risk-on and risk-off modes, inflation and economic crises around the world, performance of specific asset classes, and innovation as China's next growth driver.
Investors face choices about how much to allocate across the liquidity spectrum of public equity, hedge funds, and private markets. The author outlines the benefits and costs in providing a framework for allocating across those three levels of liquidity when investing in equity markets for commodity producers.
Beginning August 2, the Federal Aviation Administration will release registration numbers of all private flight operations unless a specified security concern is received. This reflects a change in the Block Aircraft Registration Request program, which since 2000 has allowed aircraft operators to prevent the general public from tracking their indiv...
The selection of an appropriate interior designer, architect, or landscape professional for a project is not unlike choosing other professionals as one always checks on reputation, appropriate licensing, and insurance. However, there are certain aspects of hiring talent that must be addressed to optimize the client/talent relationship.
This paper considers some of the key risks warranting board of directors' attention in the next year and proposes practical steps to take in response to political risk and the role of emerging economies, supply chain risk and business resiliency, capital investment and project-related risk, cyber risk, and compliance and regulatory risk.
By making charitable contributions from within the family's closely held business, the potential donor can maximize the benefits of a charitable contribution and the value of the assets being contributed, structure the gift transaction to supplement the business owner's finances after the gift, and coordinate with succession planning for the busine...
Keynesian principles helped us to bridge some of the most troubled waters any of us have ever seen, but it may be time to recognize that solving unemployment means more than just stimulus packages to put people back to work. It means aiding the private sector in its quest for new markets and new profit-making opportunities.
To achieve lower borrowing costs and longer payment schedules for bond-issuing eurozone countries, bond alchemists (or policymakers) must ensure that the banks holding periphery bonds don't suffer significant losses, that the issuing countries can return to the markets, and that investors are confident the countries won't default.
With the prospect of a politically united Europe unlikely, the best way to give the euro a stable future may be to return to the basic principles of the Maastricht Treaty. That means the European Central Bank needs to stop lending to banks and states most likely to be insolvent and return to its main task of preserving the purchasing power of money...
Articles in this publication consider the impact of long-term debt reduction on the economy and investments, a less taxing way to own hedge funds, whether equities have reached the end of an era, the interplay of the end of QE2 and municipal bonds, and assurance that we are far from having the decline of the dollar be a policy concern.
Prudence is required during summer regarding global assets, balancing uncertainties and risks against opportunities presented by low valuations and oversold markets. Japan and the United States offer buying opportunities, while European equities are more exposed to risk. Reducing risk in portfolios may provide a tactical hedge through the soft patc...
Investors buy gold out of fear that the economic and political infrastructure we count on when we buy stocks and bonds is degrading. And gold booms inevitably end with a bust. The better strategy may be to build a reasonably sized position in diversified commodities, including gold; play close attention to sound entry points; and rebalance religiou...
Most families with vacation property want an ownership structure that addresses management authority, transferability of ownership interests, and resolution of disputes. Only a limited liability company addresses all of those issues and protects family members from personal liability associated with owning the property.