May 1, 2022 — We can discuss risk until the cows come home, however, some investors only begin to consider risk management after they are… — May 1, 2022 — We can discuss risk until the cows come home, however, some investors only begin to consider risk management after they are faced with significant market losses. Every portfolio manager can use Mike Tyson’s quote, “everyone has a plan until they get punched in the mouth”, at…

April 28, 2022 — Turns out, it wasn’t just for the memes. — April 28, 2022 — Turns out, it wasn’t just for the memes. After much market speculation, on Monday, Elon Musk inked a definitive agreement to acquire Twitter. The acquisition price came in at $54.20 cash per share, representing a 37.9% premium and an enterprise value of $44 billion. No, Elon…

As NFTs have gained prominence with celebrities, athletes, technologists and society writ large, these digital collectibles have firmly… — As NFTs have gained prominence with celebrities, athletes, technologists and society writ large, these digital collectibles have firmly established themselves as a cultural phenomenon over the past year. Thousands of NFT collections have been released. However, one collection has emerged as the leader of this burgeoning asset class.

April 12, 2022 — The U.S. bond index is down -7.2% year-to-date, its worst start to a year on record. — April 12, 2022 — The U.S. bond index is down -7.2% year-to-date, its worst start to a year on record.

March 31, 2022 — In last month’s Merger Monitor, Will Russia Affect M&A?, I asked, “Is this rise in yields [due to the war], and… — March 31, 2022 — In last month’s Merger Monitor, Will Russia Affect M&A?, I asked, “Is this rise in yields [due to the war], and accompanying perception of increased deal risks, justified?”. Since then, $83.6 billion of North American mergers were announced, with 16 in the U.S. …

March 30, 2022 — Negative sentiment in the SPAC market has been pervasive. — March 30, 2022 — Negative sentiment in the SPAC market has been pervasive. Three factors have driven this negative sentiment: 1. Geopolitical conflict and rising interest rates causing volatility in equities and fixed income, leading to a skittish IPO market. 2. Continuous jawboning from the SEC on increased SPAC regulation…

March 16, 2022 — The “classic” 60/40 portfolio, a strategy in which an investor holds 60% of their portfolio in stocks and 40% in bonds… — March 16, 2022 — The “classic” 60/40 portfolio, a strategy in which an investor holds 60% of their portfolio in stocks and 40% in bonds, has been viewed as a diversified and balanced allocation for decades. Its success is not surprising. Prior to this year, the 60/40 had generated more…

March 8, 2022 — In the mid-aughts, an investment concept that quickly gained in popularity with allocators was the “BRICs” — a catchy… — March 8, 2022 — In the mid-aughts, an investment concept that quickly gained in popularity with allocators was the “BRICs” — a catchy acronym for the fast-growth (at the time) markets of Brazil, Russia, India and China. Underwriting the BRICs thesis was the higher-than-average economic growth of those regions. What…

With a madman on the loose in Russia, investors have a heightened sense of anxiety in the market, and rightfully so. — With a madman on the loose in Russia, investors have a heightened sense of anxiety in the market, and rightfully so. We have not seen war in Europe for over 70 years, so the current geopolitical drama and accompanying capital markets volatility are foreign to most. …