Practical analysis for investment professionals

Alternative Investments


Modern Variants of Capitalism, Part 2: Financial Capitalism

In financial capitalism, wealth is transaction-based rather than operational.

Book Review: The Caesars Palace Coup

Max Frumes and Sujeet Indap provide a fascinating inside account of the distressed debt markets, including the strategies, the colorful personalities, and the complex relationships.

Market Resiliency, Capital Formation, and Investing for Our Future

The story of the markets over the last 10 years has been one of remarkable change. Yet economies are still struggling.

Index + Factors + Alpha, ESG: Financial Analysts Journal Editor’s Snapshot

The last Financial Analysts Journal issue of 2021 features examinations of machine learning. tax-loss harvesting, and more.

Less Efficient Markets = Higher Alpha?

Shouldn't less efficient capital markets with greater information asymmetries offer more alpha opportunities?

Actively Managed Funds Are Appropriate Options for 401(k) Plans

Actively managed funds can serve plan participants well.

Perpetual Debt Is Already Here

The costs and risks associated with debt have shifted from the borrower to the lender.

“Alpha-Flation”: A Private Market Syndrome

Why does investing in the "average" private market fund seem to go so poorly?

Volmaggedon, Decarbonizing Everything: Financial Analysts Journal Editor’s Snapshot

Financial Analysts Journal managing editor Heidi Raubenheimer, PhD, CFA, provides a synopsis of the latest issue.

Pointless Market Equivalence? If Not the IRR, Why the PME?

The public market equivalent (PME) does not reflect the economic reality of private equity investing.



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