Practical analysis for investment professionals
Economics Roundup: Existential Questions for Greece, Japan, and the U.S.

“To be or not to be” is not just for Hamlet, it’s the existential question of the International Swaps and Derivatives Association (ISDA), the ruling body on credit default swaps. After much ballyhoo about whether or not Greece’s restructuring would technically qualify as a default, the ISDA ruled that Greece’s restructuring in March is in fact a default, thereby triggering credit default swaps on Greece sovereign debt.

Can Emerging Markets Stabilize Capital Flows?

Since the early 2000s, policymakers in emerging markets have been concerned about “waves” of international capital flows into their countries. As Kristin Forbes, a professor at MIT’s Sloan School of Management, pointed out at the Investing in Emerging Markets 2012 conference, “Volatility of capital flows is here to stay, and there are no magic bullets.”

Take 15: Global Demographic Trends and Investment Opportunities in Africa

Richard Hokenson discusses the investment implications of global demographic trends and the investment opportunities these trends represent for Africa.

Derivatives Roundup: Volatility Trading – Is it the Holy Grail?

Could it be that the Holy Grail has been spotted at the recent Chicago Board Options Exchange (CBOE) Risk Management Conference? Well not quite, but there was much… READ MORE ›

Rethinking the Risk-Free Rate, Exploding a Fundamental Assumption

There is no such thing as a risk-free rate of return, just as there is no such thing as our world without action. Yet, the concept of a bedrock expected rate of return is a good one in need of a better description that is more reflective of reality.

Venture Capital Investing in China: Find the Future “Cristiano Ronaldo’s” of Industry

Shanghai-based Lawrence Tse of Gobi Partners outlined the risks, opportunities, and lessons learned from a career in early-stage investing in China.

Rethinking the Wealth Management Model for Serving Asian Family Businesses

In a region that is dominated by family enterprises, wealth managers and trust service providers must focus on the often overlooked challenges of family governance.

Fixed Income Roundup: The Rise of Alternative Analyses

As I stated last month, investors have largely left last year's biggest story, the European Sovereign Debt Crisis, behind. Instead, in the last 30 days, investors have been getting their bearings and putting in place new strategies.

Book Review: Red-Blooded Risk

No one who reads this book will ever again regard risk management as a necessary but unproductive appendage of the financial industry. Other authors have chronicled how quantitative finance influenced investment management, but Aaron Brown has made a compelling case for a far more profound economic impact.

Is a Floating NAV the Fix Money Market Funds Need?

The $2.7 trillion U.S. money market fund industry, which greases the wheels of industry while offering institutional and individual investors a vehicle for cash management and savings, is being targeted for regulatory reforms designed to make it more transparent and less risky. But critics argue that adoption of the proposed changes may trigger unintended consequences with far-reaching effects.

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