climb

Markets have historically had psychological booms and busts since the beginning of time. The fear/greed syndrome will continue to drive investors into making emotional decisions at the wrong time. Human nature will remain the same. Mania has always gripped the markets from season to season. Gold, tulip bulbs, real estate, tech, oil. Bubbles tend to develop, and while “bubbles” can continue a lot longer than predicted, they will all come to a very unpleasant ending

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biz-man-chart

In recent years, pension plans increasingly have embraced approaches and solutions offered by the liability driven investing model, wherein investment choices are in large part a function of the term of the liabilities. The need to bolster returns amid fixed income yield compression has led to an expansion of the strategy, away from pure debt with potential liquidity and valuation trade-offs. Embedded in these choices are human resource decisions involving internal vs. outsourced investment talent

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biz-man

There’s no denying that one of the biggest challenges small managers face is raising capital. To become large enough to turn a profit and expand is a common migraine that keeps emerging managers up at night. Forget fretting over last quarter’s performance: most of these managers obsess over not being able to add enough LPs to their fund before they run out of cash

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