Free Cash Flow: An Upgrade to Management Reporting Feb17

Posted by & filed under Hedge Fund Performance, White Papers/ Thought Pieces.

3D illustration of a folder tab with the text cash-flow. Accounting concept. Horizontal image.

The general connection between a company’s profits and its stock price is well established. However, both over the short and long run, that degree of connection is not as robust as investors might hope. Clearly, many factors influence individual stock prices: dividends, revenues, and balance sheets among the obvious. While generally the case, these other metrics do not necessarily move in lock step with profits, particularly over shorter horizons. Still, most studies show that profits are the most influential of these factors on stock prices

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Uranium on the Rebound Feb16

Posted by & filed under White Papers/ Thought Pieces.


While most commodities recovered through 2016, uranium continued on its downtrend since the Fukushima accident of March 2011. Over the year, spot U3O8 prices declined 48% to reach $18 per pound in December, lows not seen since 2004. Spot prices abruptly reversed and sat 46% higher at $26/lb in early February (Exhibit 1). The Global X Uranium Miner ETF generated a total return of 50% for the 3 months ending January, but remains at ~14% of pre-Fukushima highs. Abandoned by most investors, the sector is fertile hunting grounds for contrarian investors. We recently checked the pulse of the industry at the Platts S&P Nuclear Energy Conference in Washington

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Change Management For Fund Managers Feb13

Posted by & filed under Hedge Fund Marketing, Marketing Tips, White Papers/ Thought Pieces.

White collar workers going down office corridor during working day

Looking to the past as a way to gauge the likely direction of the future is a popular exercise in the first quarter of every year. It’s a natural desire for people to want to improve on their personal and professional lives; taking stock of where they are, making changes where needed, and reinforcing good habits. Alternatives managers are no different, and despite some opposing opinions, are people too

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Antibiotics in Emerging Markets: The Big Short? Jan27

Posted by & filed under White Papers/ Thought Pieces.


The CDC’s recent disclosure of the death of a woman in Nevada has renewed focus on the public health risk of antibiotic resistance. What is noteworthy here is that the woman had Klebsiella pneumoniae that was resistant to all 26 antimicrobial drugs available in the United States. In addition, the bacterium had the gene New Delhi metallo-beta-lactamase (NDM) that she had contracted in India, most likely during her multiple hospital stays over the prior two years. Antibiotic resistance is a global concern, and there is particular worry that over-use of antibiotics in developing countries could lead to the emergence of a “superbug” that causes a severe epidemic

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