Tis the Season for Prognostications – Buyer Beware
It's that time of year again, when prognosticators - the so-called "experts" in a given field - take stock and give us insight into what we should expect in the coming year.
Read moreAnnual Letter
The course of investment markets over 2015 was volatile, and their path at the start of this year has been even more turbulent. In such an unsettled environment, it is easy to let emotions take over and fall into the trap of believing that the world is falling apart.
Read moreThe Endowment Model Still Works
Yale’s investment office, the progenitor of the formerly ballyhooed and more recently maligned “endowment model,” recently released results for their fiscal year 2015, which ended on 30th June.
Read moreFundamentals for the Long Term
Sometimes even Cassandra catches a break. Two years ago we warned of the dangers of ‘risk parity’, an investment approach balancing portfolio allocations by risk before leveraging up the result, and with recent market stress it has been back in the headlines
Read moreWhy We Are Optimistic
Unless you spent the last weeks of August languishing on a remote island, disconnected from the world (which some of you actually might have been), you are aware of the recent spike in market volatility
Read moreIs There a Negative Relationship Between Hedge Fund Size and Performance?
Earlier this year, Gatemore commissioned Cass Business School to conduct the most comprehensive study to date on the relationship between hedge fund size and performance.
Read moreIllusion of Control
"Being on a hot streak is one of the most dangerous things that can happen to a professional or individual investor”: these counterintuitive words are a key takeaway from a recent Wall Street Journal piece on the illusion of control and the importance of staying grounded in the face of investment success.
Read moreThe New Paradigm in Oil
An April 22nd article in the New York Times entitled “New Balance of Power” details the waning influence of OPEC on world oil prices and the rising primacy of market forces, declaring that “the United States is overtaking the Organization of the Petroleum Exporting Countries as the vital global swing producer that determines prices.”
Read moreBanking 2.0
The dramatic events of October 2008 changed the game for banks globally; over-leveraged and under-capitalized, lenders throughout the developed world have embarked on a lengthy and painful period of rationalization.
Read moreBarrel Half Full
As the price of oil continues to languish in the mid-$40 per barrel, down from over $100 last June, markets seem to be ignoring the positive and focusing on the negative: broader US and world equity markets are down on the year, oil and oil-servicing companies are taking a huge hit
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