Global Distressed Investing
An examination of types of distressed opportunities and strategies, and the historical performance of distressed funds. Exhibits cover distressed capital structure, sample fund composition, and a review of terms.
Equities
Enhanced U.S. Equity Indexing
Investors index to achieve portfolio diversification at the lowest possible cost, but abandon any chance of outperforming the chosen benchmark. In contrast, active investors pay higher fees and incur the risk of underperforming the benchmark because they believe their managers will add value over time. With lower fees than active management, close benchmark tracking, but…
Equity Market Timing, Valuations and Momentum Investing
This brief report argues against several popular market-timing strategies and examines the potential risks and rewards of momentum investing for short- and long-term investors.
Equity Portfolio Protection – The Cost of ‘Costless’ Collars
This brief report examines various portfolio protection products, their risks, cost, and effectiveness.
Firing Managers: Should Performance Be Your Guide
A demonstration that short-term performance is a poor criterion on which to base manager hiring decisions.
U.S. Equity Indexing
This guide to indexing addresses methods (replication, sampling, optimization), benchmarks, transactions costs, fees, and client servicing.
An Evaluation of U.S. Equity Manager Structures
This report analyzes diversified growth/value active manager structures and their underperformance relative to common benchmarks.
U.S. Stock Manager Selection
A summary of manager selection and evaluation.