Archives

In comparison to their practices before the pandemic, many organizations continue to increase the number of virtual meetings relative to onsite ones. Here are some thoughts about the two choices in regard to due diligence meetings.

In addition to the title topics, this edition includes a comparison between Milken’s Drexel and today’s private equity, quant investing, the total portfolio approach, bubble potential, green bonds, a look back at the subprime meltdown, and much more.

Are there changes afoot in how people communicate that will invade the investment realm? Thoughts on normal evolution, generational differences, and new rules of engagement.

The format stays roughly the same from issue to issue, but the content is always fresh — curated links on important matters from around the investment ecosystem.

The next few years will see dramatic changes as artificial intelligence capabilities are incorporated into existing organizational processes. The effects are being underestimated; it’s time to prepare.

There is a slate of good reads herein, on gender differences in analyst reports, a bold take on fiduciary duty for investment advisory firms, a changed corporate credit landscape, private equity liquidity, an old Barton Biggs strategy piece, and more.

Asset owners face dilemmas regarding the implementation of their investment programs, including the balancing of portfolio goals with beliefs on taking advantage of destructive business models.

A selection of ideas spanning the identification of skill, how to make a pitch, long-term factor premiums, “the noise factory,” the prisoner’s dilemma in private markets, strategic allocation, culture at scale, and a pioneering behavioral economist.

Along with the topics in the title there are items on the excess return profiles of equity positions, some pushback to the OCIO momentum, a rework of the PE playbook, a move to barbells in fixed income investing, and many more important ideas.

Everything seems to be moving faster and faster, which makes it a good time to consider how fast different kinds of investment decisions ought to be made for maximum effect.

How analysts come up with target prices, differences of opinion in private equity, basic investing frameworks, and a raft of interesting reads from across the investment spectrum.

In addition to the topics referenced in the title, there are items on active management, an insider’s tale, corporate life cycles, a quant renaissance, buyout conflicts, forecast storytelling, insider trading, and the insatiable private markets.

Narratives about the culture of an organization can mask the reality of it. Often unauthorized accounts are closer to the truth than authorized ones.

The usual potpourri of interesting reads includes market spasms, safety in numbers, changes in the VC landscape, ESG as the latest in a line of roller coaster investment trends, and a dozen other important topics.

In this issue: NAV loans, an explosion in options trading, responsible investing, the PE liquidity squeeze, multi-family offices, fund crowding, secondaries, managing downside risk, and still more.