Investing

[ad_1] Correlations between world stock markets began to increase in the 1970s. This trend endured for nearly a half century as globalization took hold and defined much of the era. But that all changed when COVID-19 broke out in earnest in February 2020. While tariff disputes had already disrupted supply chains […]

[ad_1] Each cycle in distressed debt investing is different. During the global financial crisis (GFC), many otherwise viable companies faced a liquidity crisis. Prior to that, as the tech bubble burst in the early aughts, Global Crossing, Nortel, and Lucent, among other firms, applied too much leverage and, in the […]

[ad_1] Economic data reflect global supply chain restructuring. Nearly two years into the regionalization, nearshoring, re-shoring, and “friend-shoring” of the global supply chain restructuring process, US and overseas economic data are revealing the consequences. As the supply chain shifts, accelerated by pandemic disruptions and policy uncertainty, previously dependable — and […]

[ad_1] What’s the outlook for the office real estate sector and regional banks? In “Sonny Kalsi: Navigating Bank Failures and Commercial Real Estate Holdings,” a Guiding Assets podcast from CFA Institute, Paul Andrews, head of Research, Advocacy, and Standards at CFA Institute, speaks with Sonny Kalsi, co-CEO of BentallGreenOak (BGO), […]

[ad_1] Hookups just aren’t what they used to be. The worldwide value of mergers and acquisitions dropped to around US$1.22 trillion at the end of June 2023, down from US$2 trillion at the end of the second quarter last year. Higher interest rates are the primary reason. While they may […]

[ad_1] Despite a brief return to normalcy in 2022, equity factor strategies have experienced performance challenges relative to cap-weighted indexes since the COVID-19-induced market crash of 2020. While there are many explanations for these challenges, our focus here is on another question: Is it possible to retain the benefits and […]

[ad_1] Our primer on commercial real estate (CRE) investing explored the core components of real estate investing decisions. But what about CRE investing in the current environment? How has the post-pandemic world of renewed geopolitical tensions, resurgent inflation, and rising interest rate pressures reshaped how real estate capital markets operate? […]

[ad_1] The Worth of Art: Financial Tools for the Art Markets. 2023. Arturo Cifuentes and Ventura Charlin. Columbia University Press. “Sorry, but we do not have a magical equation for predicting which artists will be hot next year or whether Andy Warhol’s Marilyns will outperform the S&P 500 in the […]

[ad_1] “[O]ur mind is strongly biased toward causal explanations and does not deal well with ‘mere statistics.’” — Daniel Kahneman, Thinking, Fast and Slow The predictive power of the yield curve is a widely accepted causal narrative. But the history of the yield curve shows that the causal correlation between […]

[ad_1] Introduction We have analyzed dozens of public and private market investment strategies, such as merger arbitrage and private equity, respectively, over the last few years, and one common theme has emerged. Most of the products described in more than 300 research papers simply provide exposure to the stock market […]