Reflexivity and the risk of market feedback loops
In periods of expansion, reflexivity supports rising valuations and expanding credit availability; but like leverage, it operates in both directions
Be prepared: Long-volatility, convexity and portfolio efficiency
It's never a question of If, only When will we see a significant left-tail event in risk assets. Here's why large equity-market declines are not rare; and why...
The overlooked complexities of alternatives – and how independent advisers can close the gap
Independent advisers are expected to evaluate increasingly complex strategies, with confidence; yet many simply don’t have access to the resources they need...
The great equity illusion: Markets, madness and the passive party
There is an old belief in investing that fundamentals eventually matter. Cash flows, valuations, business models and the steady arithmetic of earnings growth...
You can bet on mean reversion — it's undefeated
Why long-term capital preservation matters more than chasing the party.
Volatility as an asset class: Rethinking defensive allocation in modern portfolios
The asymmetric link between equities and volatility can deliver positive returns during periods of market stress, in what's been called “crisis alpha.”
Rethinking defensive income: Diversification no longer just a buzzword
The days when defensive assets equalled government and corporate bonds are gone. Today, investors wanting income while preserving capital must adopt a more...
Time to rethink the 'couch potato' of passive fixed-income
Passive fixed-income is an unhealthy couch potato — and it's time to get active, argues Michael Armitage.
Time to rethink the 'couch potato' of passive fixed-income
Passive fixed-income is an unhealthy couch potato — and it's time to get active, argues Michael Armitage.
Bitcoin builds credibility for a new asset class
The recent surge in the market value of Bitcoin (BTC) has made headlines this holiday season as the underlying structure of the market continues to attract...
Bitcoin builds credibility for a new asset class
The recent surge in the market value of Bitcoin (BTC) has made headlines this holiday season as the underlying structure of the market continues to attract...
Time for alternative investments to shine
Given the global outlook is clearly one of a high degree of risk, it is surprising that all forms of risk assets seem to continually defy all the negative...
Time for alternative investments to shine
Given the global outlook is clearly one of a high degree of risk, it is surprising that all forms of risk assets seem to continually defy all the negative...
Time for alternative investments to shine
Given the global outlook is clearly one of a high degree of risk, it is surprising that all forms of risk assets seem to continually defy all the negative...
Getting the SG settings right
Variations in personal circumstances show that a uniform rate of SG cannot be effective in targeting adequacy for all. However, we must choose a suitable rate...
Getting the SG settings right
Variations in personal circumstances show that a uniform rate of SG cannot be effective in targeting adequacy for all. However, we must choose a suitable rate...