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Category: Alternative Investments

Behavioral Finance…

A Couple Lessons Learned from Recent Experience

22 Jan 2015January 22, 2015
Not only did the investing herd have the outlook for rates wrong, but it was uniformly inquiring about the wrong thing. Asset prices are often set to allow for the…
Alternative Investments…

Liquid Long/Short Mutual Funds

29 Oct 2014
Investors who want the return opportunities of equities but are concerned about a fully valued market should consider strategies that are designed to asymmetrically capture up and down market movements,…
Alternative Investments…

An Intriguing Alternative Investment: Farmland

4 Aug 2014
Every day the total population of planet earth increases by over 200,000 people. There are 1,402 million hectares of arable land, 138 million hectares of perennial croplands and 3,433 million…
Equity…

Choosing From Beta Strategies: Bettering Your Investments with a Smarter Exposure

17 May 2014May 19, 2014
Institutional investors have employed alternative weighting and factor-driven strategies for decades. In recent years, a growing variety of alternative beta strategies have come to market, as investment managers are pursuing…
Alternative Investments…

Private Equity Market Landscape – First Quarter 2014

4 May 2014May 19, 2014
The year of 2013 has been the most successful year for private equity firms since 2008, with 873 funds with an aggregate of $454 billion. In 2013, the private equity-backed…
Healthcare Fund…

Venture Capital in Life Sciences (III): Monoclonal Antibodies in the Treatment of Ankylosing Spondylitis

16 Apr 2014April 19, 2014
The application of monoclonal antibody drugs is a relatively new innovation. Approximately 54% of monoclonal antibody drugs available are applied in various types of cancer, although clinical trials are also…
Healthcare Fund…

Venture Capital in Life Sciences (II): Pharmacogenomics and Personalized Medicine

7 Apr 2014April 7, 2014
Pharmacogenomics focuses on understanding the response rates and side effects of a treatment at the individual level. It analyzes the influence of genetic variation on drug response in patients by…
Healthcare Fund…

Biomedicine: Healthcare Venture Capital’s Investment of 2014

30 Mar 2014April 1, 2014
As a venture capitalist, I believe the hottest investment of 2014 is in the healthcare sector. The beauty of healthcare investing lies in the fact that the demand for the…
Alternative Investments…

Venture Capital in Life Sciences (I): Personalized Medicine for Cancer Therapies

24 Feb 2014March 17, 2014
Over the past decade, the genomics revolution has led to the emergence of numerous groundbreaking personalized medicine as well as multiple diagnostic and therapeutic targets. Take the area of cancer…
Alternative Investments…

Healthcare Investing: In Innovators We Trust, Up to the Future We Light

17 Feb 2014February 22, 2014
When people talk about “healthcare,” they probably refer to pharmaceuticals and health insurers, but the sector also covers life sciences and biotechnology, medical equipment manufacturers and services, hospitals, distributors, etc.…
Private Equity…

Crowdfunding: A Powerful Model of Fundraising

10 Feb 2014April 29, 2026
Crowdfunding is an internet-based fundraising model, where individuals network and pool their money to support a certain project or venture. A crowdfunding activity is composed of a project creator, crowd…
Alternative Investments…

Alternative Investments of 2013: Bitcoin, Yu’ebao, Tourmaline 比特币 余额宝 碧玺

3 Feb 2014February 10, 2014
Innovation almost always comes first with  alternative investments, even if a type of alternative asset class may sound bizarre to conventional investors. Looking back at the year of 2013, many…
Alternative Investments…

Real Estate Market – January 4, 2014

4 Jan 2014January 4, 2014
The total number of U.S. residents who signed contracts to buy existing homes was essentially unchanged in the fourth quarter of 2013, suggesting home sales are stabilizing after several months…
Alternative Investments…

Passion Investments: Another Smart Choice for HNWIs

22 Dec 2013December 22, 2013
The 2013 World Wealth Report indicates that investor confidence in the wealth management industry has improved, and the level of trust in asset managers has risen slightly compared to the previous period.…
Alternative Investments…

Real Estate Market Commentary – November 2013

15 Nov 2013
One year ending November 13, 2013, the average global non-listed real estate vehicles realized a total global return of 5.82 percent[1], as measured by the Global Real Estate Fund Index.…
Alternative Investments…

Fund of Hedge Funds, Manager Selection, and Due Diligence

22 Oct 2013November 14, 2013
One of the main reasons that more and more institutional investors, particularly endowments and foundations, include hedge funds in their portfolios is the expected diversification benefit, given the existing array…
Alternative Investments…

An Event-Driven Strategy: Merger Arbitrage

22 Oct 2013October 23, 2013
Event-driven strategy seeks to invest in opportunities associated with corporate transactions such as consolidations, acquisitions, recapitalizations, bankruptcies, and liquidations. Merger arbitrage event-driven managers employ strategies that can capitalize on valuation…
Alternative Investments…

A Relative Value Strategy: Convertible Arbitrage

22 Oct 2013
Hedge funds deploying relative value strategies seek to take advantage of “discrepancies” in price between securities or the overall market. Within the relative value category, there are sub-strategies, and convertible…
Alternative Investments…

A Global Macro Strategy: Managed Futures

22 Oct 2013October 28, 2013
  Hedge funds utilizing a global macro strategy take positions in equity, fixed income, or currency markets in anticipation of global macroeconomic events to generate risk-adjusted returns. Global macro fund…
Alternative Investments…

Hedge Fund Landscape

22 Oct 2013November 26, 2013
The first hedge fund emerged in 1949 when sociologist Alfred Winslow Jones and his four friends formed an investment partnership. The first reference to a hedge fund appeared in a…
Alternative Investments…

Impact Investing – The Next Generation of Venture Capital

20 Oct 2013October 20, 2013
In the 1990s, Jed Emerson advocated the concept of Blended Value for funds, firms, social ventures, and foundations to invest with social and environmental impact, rather than to maximize financial…
Alternative Investments…

Private Equity Portfolio Management

20 Oct 2013October 20, 2013
Portfolio Management is a process of making investment decisions about asset mix, policy, and buy/sell disciplines in order to meet individual and institutional investors’ specified financial objectives, risk tolerance, investment…
Alternative Investments…

Private Equity Fund of Funds

19 Oct 2013October 19, 2013
PE fund of funds have been around for nearly as long as the buyout industry. This type of investing became mainstream during the mid to late 1990s, as institutional investors…
Alternative Investments…

Venture Capital and Buyout

18 Oct 2013
The Yale Endowment’s investment success has been largely driven by the categories that are designed for sophisticated investors, such as PE. Ten years ending June 30, 2013, the endowment fund’s…
Alternative Investments…

Private Equity Landscape – Updated through October 2013

17 Oct 2013November 26, 2013
The growing interest in private equity investments has arisen among the institutional investors in the U.S., particularly endowments and foundations. The most significant reason of which include: compared to public…
Alternative Investments…

Endowment Spending and Purchasing Power Preservation (IV): Real Estate

15 Oct 2013October 28, 2013
Potential Benefits of Real Estate Investments Similar to the return patterns of other real assets, real estate returns also have low correlations with traditional investment vehicles, which adds a diversification…
Alternative Investments…

Endowment Spending and Purchasing Power Preservation (II): Timberland

14 Oct 2013October 28, 2013
Investments in natural resources, such as oil and gas, farmland, timberland, and metals and mining provide protection against unanticipated inflation, high and visible cash flow, and opportunities to exploit inefficiencies.…
Alternative Investments…

Endowment Spending and Purchasing Power Preservation (I): Commodities

13 Oct 2013October 14, 2013
Endowment Spending Policy One of the most difficult challenges that any investment committee member of endowments and foundations face is choosing a spending policy that will best balance two competing…
Alternative Investments…

From Modern Portfolio Theory to Pioneering Portfolio Management: The Endowment Model

6 Oct 2013October 15, 2013
Implications of Modern Portfolio Theory Traditional and widely used institutional policy portfolios commonly consisted of a majority of U.S. equities and a reciprocal proportion of U.S. bonds, e.g., 60% stock/40%…
Alternative Investments…

Approaches to Tail Risk Hedging in The Endowment Model

1 Sep 2013January 5, 2026
In the Foreword of David Swensen (2009), Charles Ellis commented that Yale was good at playing defense, because the endowment was built to withstand the inevitable storms that face capital…

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