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Financial reports and other real-time operational data are often lagging indicators of performance. These metrics, although perhaps lacking precision, may have been sufficiently effective in the past; however, they are less so now because they lag the current cadence of information dissemination and business volatility today. The challenge for many...

Global investors need to cast their net broadly to capture attractive investment opportunities. For decades, western analysts have believed that the economic potential and perceived advantages of India—such as a free market economy, democratically elected government and western-style legal system—would allow it to become a dominant glob...

Collecting art can be a gratifying experience that can take you into an exclusive world of auction houses, galleries and artists’ studios. There’s a lot to learn in the early days of collecting, and most collectors start small. But if you want to elevate your art buying to collecting, it’s necessary to make a mental shift, includi...

Investors are looking at art for more than their aesthetic qualities. It can also serve as an important portfolio diversifier beyond traditional asset classes like stocks, bonds, and cash. Art can be used as collateral for loans and help lower your tax burden during your lifetime and for your beneficiaries. Most importantly, it can be a central com...

Middle market direct lending is a large and growing component of the private debt market. The increasing importance of private capital to finance small to medium-sized businesses, coupled with investors’ interest in the asset class contribute to dynamics that set the stage for continued growth. One reason for investing in middle market direct...

Resiliency seems to be the most appropriate word to describe financial markets over the past years, and that held true during the last quarter. Global stock markets continued their trek upward, reaching fresh all-time highs almost daily during the third quarter; the MSCI ACWI Index gained 5.31 percent as the coordinated global recovery strengthened...

The term “Outsourced Chief Investment Officer” (OCIO) has gained popularity in the investment industry as investment consultants, banks and small wealth management firms are now offering OCIO services to foundations, endowments and nonprofits. You may be considering this model instead of the self-managed or consultant model used in the ...

Equity markets around the globe advanced into new high territory in October, with the S&P 500 posting a total return of 16.9% YTD. Global fundamentals remain supportive with many indicators signaling the potential for further gains. While volatility has been notably absent from markets this year, and as each dip seems to bring a fresh wave of b...

New discoveries and venture capital investments in the bioscience industry are occurring at a breathtaking pace and have led to the emergence of “personalized medicine” which recognizes the need for tailored treatments. From genome sequencing to CAR T-Cell therapy, scientific medical discoveries are having a significant impact on the human conditio...

Portfolio companies of private equity and venture capital funds often provide equity-based compensation to employees. Certain forms of equity compensation, such as stock options, profits interests, or appreciation rights, are directly tied to changes in equity value. When it comes to valuation of equity compensation in privately-owned companies, th...

For a majority of impact investors, impact investing means seeking a general or specific environmental, social, or governance outcome, in addition to a financial return, from their investments. Through a collection of articles on impact investing—including how The Russell Family Foundation has charted a course to impact investing—famili...

Congress on December 20, 2017 gave final approval to the House and Senate conference committee agreement on tax reform legislation (HR 1 or the Act). The Act will affect mergers, acquisitions and other deals and includes several areas of interest to businesses, including business tax rates, interest expense, cost recovery and immediate expensing, a...

Investors focus on the yield curve with good reason—an inverted curve has historically led to recession and eventual stock market losses. However, these stock market declines take time to materialize, suggesting that an inverted yield curve is less a “predictor” of stock market declines than a challenge to economic functioning. Th...

Low inflation, subdued global growth, and historically elevated stock valuations are the realities we believe your investment portfolios face over the next five years. Investors can position their portfolios for the long-term with these six key themes in mind: valuation superstructure, entrenched growth, stuckflation, monetary godot, populist catha...

Moving into 2018 there is a need to prepare for a subtly changing investment environment. It is time for a comprehensive reality check, and the Ten Themes for 2018 can help you understand the opportunities and risks ahead. We think that we will see another year of positive, if generally rather lower, investment returns. Beginning with theme number ...