Trust But Clarify
By Bill Kelly, CAIA Association CEO Whatâs going on here? Wasnât it just a few short weeks ago that the SEC came out with a self-reporting initiative aimed at advisors who essentially fail to...
View ArticleCentral Europe as seen by private equity managers
Deloitte has recently posted the results of its survey of how private equity managers see central Europe. A very concise summary of the findings of the survey is this: the PE industry expects that it...
View ArticleWhat Makes Big Data So ⦠Big?
The term âbig dataâ has become a cliché. One has to remind one’s self that it is a somewhat ill-fitting label. What is new about the world of data isnât that there is a lot of it; nor that on...
View ArticleWhere do chief investment officers come from?
By Charles Skorina Every year there are about 50 to 100 US nonprofit (tax-exempt) and family office CIO searches and that number will climb as more ultra-high-net-worth families (over $100 million AUM)...
View ArticleWhy Treasury Professionals are Building Cash Reserves
The Association of Finance Professionals recently disclosed, via its Corporate Cash Indicators, that U.S. corporations accumulated more cash in the third quarter of 2017 than had been anticipated. This...
View ArticleSo Much March Madness
By Bill Kelly, CEO, CAIA Association What can the NCAA basketball tournament tell you about your investment portfolio? As it turns out, quite a bit. For those of you who simply don’t care about the...
View ArticleThe PE Lifecycle Can Be Audited by Blockchain
On March 19, Northern Trust announced that it has enhanced its blockchain technology for private equity to the point where it can be employed by auditors. The audit firm can have its own blockchain...
View ArticleTHE ART OF IMPROVING INVESTOR RELATIONS
By Diane Harrison Merriam-Webster defines a debate as âa regulated discussion of a proposition between two matched sides.â A good debate is not an argument. Rather, it is a thoughtful process of...
View ArticleFinance Theory, Listed Equities, and Liquidity
A recent paper from Robeco discusses whether a liquidity premium exists in the stock market. The authors, David Blitz, Jean-Paul van Brakel, and Milan Vidojevic, conclude that âthe evidence for such...
View ArticleThe VC and PE Markets in Canada
The Canadian Venture Capital and Private Equity Association (CVCA) has posted what it calls an âoverviewâ of the VC and PE Markets in that country in 2017. It reports growth in both of those...
View ArticleEgg Day SegueÂ
By Bill Kelly, CAIA CEO According to the Gregorian Calendar today is Easter Monday. It is a holiday in many countries around the world and even for the non-celebrants, visual cues abound. In many...
View ArticleThe Realities of Real Assets
A London-headquartered specialist consultant, bFinance, has prepared a report on the trends that have emerged over the last decade in the way both investors and managers think about the real assets in...
View ArticleBe Fearful When Everyone is Greedy
A new report from Context Capital Partners looks into trends in the alternative investments industry, both among institutions and family offices. It finds continued strong demand for alt investments,...
View ArticleBitcoin Futures ETFs: SEC Requests Comment
In December last year the NYSE Arca Inc. filed a proposed rule change that would allow for the creation of Exchange Traded Funds investing in Bitcoin futures contracts, and, potentially, in other...
View ArticleThe Giraffe in The Coal MineÂ
By Bill Kelly, CAIA Association Whatâs a few dead canaries amongst friends, or maybe miners? Historically, it has meant a highly toxic atmosphere and a time to immediately retreat to safer...
View ArticleOptions-based Strategies and their Pay-offs
Roberto Obregon, of the Meketa Investment Group, has written a paper (available at SSRN) on the use of options-based equity strategies. Obregon is the author of a number of scholarly papers on...
View ArticleFunds Use Public Info to Complement Private Signals
Alan D. Crane and two colleagues have written a paper on whether and how hedge funds profit from publicly available information, in particular from SEC filings. Crane is an assistant professor at...
View ArticleâYou Kick Itâ and the Alternative Investment Industry
The Alternative Investment Management Association, the London-based organization representing the interests of the worldâs alternative investment industry, has issued a new whitepaper about the...
View Articlein-i-fish-uh nt (adj.)Â
By Bill Kelly, CAIA CEO In the good old days of bound books, a dictionary and thesaurus were de rigueur desktop accessories, no matter your stock-in-trade. It is hard to argue with theÂ...
View ArticleUnderstanding the Surge in Appraisal Remedies
A new paper by Alexandros L. Seretakis takes a comparative look at appraisal rights in the United States and the European Union, noting along the way that this familiar legal protection mechanism for...
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