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Is Bitcoin a Better Disaster Hedge Than Gold?

No, we don’t think so. While bitcoin and gold share some qualities, these two assets are different and should not be viewed as interchangeable in investment portfolios. Bitcoin is much more volatile than gold and has recently been trading more like a pro-risk asset, suffering significant drawdowns during periods of market turmoil. Bitcoin is often […]

February 2, 2022

Global ex US PE/VC Benchmark Commentary: First Half 2021

In the first six months of 2021, according to Cambridge Associates indexes, private equity and venture capital in the developed markets outperformed those in emerging markets. The Cambridge Associates LLC Developed Markets ex US Private Equity and Venture Capital (PE/VC) Index returned 18.7% in the first half of 2021, in USD terms, with significantly better […]

January 21, 2022

US PE/VC Benchmark Commentary: First Half 2021

In the first half of 2021, US private equity and venture capital returns continued the torrid pace that started in second quarter 2020. For the six months ended June 30, 2021, the Cambridge Associates LLC US Private Equity Index® returned 25.5% (11.4% and 12.5% in first and second quarters, respectively) and the Cambridge Associates LLC […]

January 10, 2022

Case Study: Building custom portfolios to reflect each family member’s distinct impact investing goals

The Hahn family’s wealth, which originated in manufacturing four generations ago, is today overseen by Wilson, the current family patriarch, and supported by a family office staff of two investment professionals. The family members themselves have minimal investment experience. CLIENT BRIEF Client: Hahn family Source of wealth: Manufacturing (inherited wealth) Situation: Family members with distinct […]

December 12, 2021

Global Equity Performance Exceeds That of High-Quality Bonds

Global equities have returned more to investors than high-quality global bonds in nearly three quarters of the last 30 years. The margin of outperformance during those years has been considerable, averaging 12.5 percentage points. That high historical success rate, along with our view that healthy economic activity will support both positive earnings growth and risk appetite, leads us to expect that equities will yet again outperform high-quality bonds.

December 8, 2021

China A-Shares Outperform Global Equities

China’s equity markets have lagged global equities sharply thus far in 2021 in the face of a regulatory crackdown. We expect Chinese equities, particularly China onshore A-shares, to outperform global equities in 2022.

December 8, 2021