The relationship between capitalization rates (cap rates) and interest rates is more nuanced than first meets…
Category: Investing
Private Markets’ Governance: A New Era
Private markets’ meteoric growth since the Global Financial Crisis has attracted the attention of regulators around…
Book Review: My Value Creation Journey
My Value Creation Journey: An Autobiography of My Work. Bartley J. Madden. ?2023. Bartley J. Madden…
What Is Systems Thinking? A Primer with Applications for Sustainable Investing
Dynamic and “emergent” complex systems.1 can be found everywhere from ecosystems to economies to our underlying…
Concerned About Market Concentration and Lofty Valuations? Consider Small Caps
If you are wringing your hands over large-cap stocks due to high market concentration and lofty…
Is the Outright Ban on a US Central Bank Digital Currency (CBDC) a Mistake?
Last month, the US House of Representatives passed a bill banning the Federal Reserve from issuing…
Behavior of Crowds not Wisdom of Crowds
The efficient market hypothesis (EMH) says that active equity management is a waste of time. Because…
Did Inflation Kill the CAPM?
Pim van Vliet, PhD, is the author of High Returns from Low Risk: A Remarkable Stock Market…
Hedge Funds: A Poor Choice for Most Long-Term Investors?
Hedge funds have become an integral part of institutional portfolio management. They constitute some 7% of…
Conundrum Cubed: Scope 3 for Financials
Scope 3 disclosures are complex, and Category 15 (Investments) is an obscure segment intended to cover…
Book Review: Default | CFA Institute Enterprising Investor
Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring. 2024. Gregory Makoff. University of…
Are Your Data Governance and Management Practices Keeping Pace with the AI Boom?
As financial services firms scramble to keep pace with technological advancements like machine learning and artificial…
Vanguard’s Former OCIO Clients Must Stand Their Ground
“Those who stand for nothing fall for anything.” Alexander Hamilton, first US Secretary of the Treasury…
Commodities for the Long Run?
If you focus only on returns and covariances over a one-year investment horizon, you may conclude…
In Search of the Elusive Neutral Interest Rate
Interest rates move markets worth trillions of dollars, influence politics, impact the value of currencies, and…
Can Equal Weight Solve Our Concentration Crisis? Not So Fast…
The US stock market has never before been this top heavy, and no easy solution, or…
Preserving the Dollar: The Role of CBDCs in Securing Economic Stability for Future Generations
Younger generations in the United States and other developed nations increasingly worry about economic trends that…
Book Review: Shocks, Crises, and False Alarms
Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk. 2024. Philipp Carlsson-Szlezak and Paul…
Is Widespread Crypto Adoption Inevitable?
We are on the cusp of a major shift in financial, political, and social power from…
Measuring Corporate Impact: The Gold Is in the Details
Measuring corporate impact is time-consuming and resource intensive. Until recently, I worked at UN PRI and…
Investment Manager Selection Is Hotting Up. Are You Ready for the Tough Questions?
“We don’t think we were wrong. We think we were early.” A cringe-worthy answer that rings…
What Do Experts Really Know? Embracing the Unknown
“As we know, there are known knowns; there are things we know we know. We also…