In this issue Reflections on how endowments have changed since our firm’s founding 40 years ago Discussion of the benefits and considerations of a risk parity portfolio approach Introduction to C|A’s private investment benchmarking framework Explanation of the role concentrated stock can play in a family’s portfolio
Executive Summary Manager selection is critical when investing in hedge funds. Every analysis of a potential hedge fund allocation boils down to a granular assessment of a fund’s value proposition as reflected in its investment philosophy, terms, and business operations. Equally important is the need to identify the specific role each fund serves as part…
While simple 100% U.S. equity and stock/bond portfolios have outperformed highly diversified portfolios recently, highly diversified portfolios have delivered consistently superior returns over decades.
Although the rate of increase has remained relatively constant over the past six years, total student charges, which include tuition, fees, and room & board charges, continue to rise. Our annual compendium of student charges includes high-to-low rankings, annual percentage increases, a comparison of rates of increase to inflation, and an appendix providing a 20-year…
Equities surged ahead during the fiscal year, while commodity-related assets and high-quality bonds struggled.
An extensive examination of long-term trends and returns in U.K. equities, gilts, and Treasury bills.
Growth equity has matured and evolved into a distinct asset class with different characteristics from both venture capital and private equity, and may represent an attractive alternative for certain investors. For those old enough to remember the commercials, U.S. growth equity could perhaps be called the Reese’s Peanut Butter Cup of the private investment world….
A mid-year update on our views, focusing on the macroeconomic factors that impact short-term market moves and the valuations that influence long-run results.
Despite the recent sell-off, Japanese equities are up considerably since last October given the promise of Abenomics; however, we remain tactically neutral given valuations and significant structural headwinds.
This paper describes our approach to developing input assumptions for use in mean-variance analysis. Appendices cover the weaknesses of other approaches, as well as taxable considerations.