Insights

Venture Capital Positively Disrupts Intergenerational Investing

Families of wealth face three key questions about intergenerational wealth planning: how best to invest to sustain future generations; how best to engage the next generation; and how best to ensure family unity endures. Often each question is addressed independently. We find that a conversation across generations about the impact of a meaningful venture capital allocation can help address all three questions in an integrated manner.

January 2020

VantagePoint: Disruption, Demographics, and Decoupling

The start of a new year and a new decade is an opportune time to reflect on megatrends that will be consequential over the next ten years. In this edition of VantagePoint, we focus on three such trends and their investment implications: disruption, demographics, and decoupling.

January 2020

What Risks and Opportunities Are You Focused on as We Enter 2020?

We see opportunities to deploy capital in some niche areas of the investment landscape and reshape (or at least re-evaluate) some areas of the portfolio. Simultaneously, we are closely monitoring the lurch toward protectionist trade policies and their impact on global economic activity.

December 2019

With Trend-Following Funds Down Sharply This Fall, Should Investors Fish or Cut Bait?

Fish, but only if investors can accept very lumpy returns.

December 2019

A Summary of Climate Change Science for Investors

We are investors, not scientists; however, investors would be wise to consider climate science in their investment decision-making process.

December 2019

Will Weak Economic Data in the Euro Area Undercut Its Equities?

No, we don’t think so. While euro area economic activity has weakened meaningfully, with real GDP growth falling to its lowest annual pace (1.1%) since 2013 in third quarter, strong equity returns aren’t dependent on robust economic growth. Ultimately, we continue to like the bloc as part of a risk-controlled overweight to global ex US equities funded from US equities.

December 2019

Liability-Hedging Strategies for US Plan Sponsors in the Low Interest Rate Era

While many plan sponsors have adapted to dramatic interest rate swings by strategically hedging their liability interest rate risk, some balk when interest rates are low. But failing to hedge long-duration liabilities with long-duration assets can expose sponsors to significant downside risk.

November 2019

Outlook 2020: Ten Investing Themes for the Coming Year

In 2019, returns were driven less by what went right than by what did not go wrong. We highlight ten themes for 2020, with a focus on key macro questions, emerging opportunities, and risks.

November 2019