Investors Keep Returning to Hedge Funds
A survey of institutional investors by JPMorgan Chase found that most participants planned to “maintain or increase their overall hedge fund allocations in 2019, following a year during which 68…
Finding Industries that Present Investment Opportunities
A recent article in Forbes discusses strategies for finding investment opportunities in out-of-favor industries and avoiding value traps. Here are some highlights from the article: Investors can avoid falling into…
Buffett's Course Correction on Airlines
After decades of swearing off the sector, Berkshire Hathaway’s airline holdings make it among the biggest shareholders in the four largest U.S. carriers, and CEO Warren Buffett said he wouldn’t…
Bill Ackman Pursuing Quiet Recovery
After a pair of “disastrous” bets on drug company Valeant and supplement company Herbalife, once “omnipresent rabble-rouser” shareholder activist William Ackman is getting back to basics and a more low-profile…
GMO's Montier on the Dual Economy
A Financial Times article offers an in-depth discussion of GMO’s James Montier’s thesis that the U.S. is moving into a “dual economy where productivity growth is reasonable in some sectors,…
A Recession is On the Way
An article in Financial Advisor magazine argues that a recession—and maybe a bear market—are on the horizon, predicting a “two-thirds probability” for a business downturn starting this year. The article…
The $358 Billion Public Pension Giant and its Investing Dilemma
In March, the board of California Public Employees’ Retirement System (Calpers) approved a plan that could channel up to $20 billion into private equity startups and corporate buyouts over the…
Five Questions: The Importance of Narratives with Ben Hunt
By Jack Forehand (@practicalquant) One of the most important things any investor can do is to challenge their own beliefs. Confirmation bias leads all of us to seek out opinions…