The four articles in this paper provide investment perspectives on the U.S. recovery, the Eurozone crises, the nature of China’s landing and whether policy makers have unleashed deflation or inflation.
Investment Management
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This basic primer for investment managers provides a thorough introduction to exchange-traded funds – what they are, how they work, why they can be useful – and examines why regulators have been taking a closer look at them lately.
Investing in an Art Fund?
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Deciding whether to invest in an art fund? This article examines challenges in defective title that art funds and their investors may face in the unregulated art and collectibles market.
Own or Possess?
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Today’s collectors increasingly view art as an investment. Best practices should be applied to collectibles similar to those applied to traditional assets like homes and automobiles. This article reviews the important and complex issues surrounding the legal and financial risks that pervade ownership of this “new asset class.”
Portfolio Optimization Theory v. Practice
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This paper examines the gap between the theory of portfolio construction and its practice. In particular, it analyzes some of the problems in the application of portfolio optimization techniques to individual investors and identifies ways to compensate for the theory's shortcomings.
Investment Outlook: Spring 2012
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In this issue of Eton’s Investment Outlook, the firm describes how Modern Portfolio Theory has ruled the financial seas for the past 60 years, its shortcomings, and why they view goals-based investing as a better framework.
Investment Outlook: Summer 2012
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The goals-based investing framework utilizes Abraham Maslow's “hierarchy of needs” approach by defining, quantifying and prioritizing financial goals across multiple family generations. The brilliance of this process is that it recognizes something very fundamental about our financial behavior: We assign different levels of priority to different goals, and are willing to tolerate different levels of risk in pursuing those respective goals.
Understanding the exposures involved with direct private equity investing as well as the insurance solutions to address those exposures is essential when implementing a direct private equity investment strategy for family offices.
The Goals-Based Investing Advantage
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One of the trends we’ve seen in response to the volatility of the markets in recent years has been for private investors to rethink how they define investment objectives through a goals-based lens. Families are actively articulating and measuring their investment profile in terms of their personal financial goals, rather than in terms of market benchmarks.
Impact Investing in Context
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It is estimated that by 2020 between $400 billion and $1 trillion dollars will be invested through impact investing. Clearly this new approach to influencing positive social and environmental changes has far-reaching implications.