Browsing: Emerging Asset Classes

Emerging Asset Classes

Eurekahedge: Greater China Mandates Pay Off for January

Feb 20th, 2018 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Hedge Funds, Commodities & Natural Resources

A new Index Flash Update from Eurekahedge says that hedge funds are off to a positive start to 2018. The industry globally gained 2.26% in January. Among developed world mandates, North American hedge funds were up 1.89%, followed by those of Japan and Europe, which gained 1.28% each. Higher numbersRead More


Ceres Report Evaluates Value of Early-Stage Clean Energy

Feb 4th, 2018 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Private Equity, Newly Added, ESG, Commodities & Natural Resources

A recent publication from Ceres, a nonprofit organization devoted to promoting sustainability as a goal in both investing and corporate governance, looks at the value that early-stage clean energy products offer venture capitalists. The publication is the work of a team of five “lead authors and key contributors,” including threeRead More


What CTAs Think about Bitcoin Futures

Jan 25th, 2018 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Asset Allocation, Hedge Funds, Commodities & Natural Resources

A new BarclayHedge study indicates that the majority of commodity trading advisers surveyed are unenthusiastic about the new Bitcoin futures. Specifically, asked “do you consider Bitcoin futures to be a valuable/useful addition to a diversified futures portfolio?” nearly three quarters (73%) said “no.” The sample for this survey included firmsRead More


CRYPTOCURRENCIES – HOT BUY OR HOT AIR?

Jan 17th, 2018 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Asset Allocation

By Diane Harrison With traditional stock markets offering robust gains in 2017 and looking poised to continue their attractiveness in 2018, investors need strong persuasion to shift their equity allocations elsewhere. Enter the latest media darling: cryptocurrencies. The alternatives news feeds are awash in stories extolling the meteoric rise ofRead More


A Proposal for a Monthly Art Market Index

Jan 9th, 2018 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, Commodities & Natural Resources

It has long been understood that ownership of works of art isn’t just a collection or a hobby, or a way to brighten up the walls of one’s home. It’s a portfolio decision. But it is a portfolio decision that involves non-fungible and very infrequently traded assets.  So: how doesRead More


Benchmarking Distributed Ledger Technology

Dec 21st, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added

Two scholars affiliated with the Cambridge Centre for Alternative Finance, in Great Britain, have prepared a fascinating overview of the present state of blockchain and distributed ledger technology (DLT). Dr. Garrick Hileman and Michel Rauchs, respectively a Research Fellow and a research assistant, have gathered data from more than 200Read More


The Transformation of the Global Reinsurance Industry

Dec 14th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added

A new paper from Milliman, a consultant to the insurance and financial services industries, discusses the ongoing transformation in and of the global reinsurance industry that alternative investment has created. About 20 years ago, in the wake of Hurricane Andrew and the Northridge earthquake, catastrophe bonds caught on as aRead More


Deloitte on Initial Coins Offerings (ICOs) as IPOs

Dec 10th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Asset Allocation

An October 2017 white paper from Deloitte discusses the extent to which the offerings of tokens built upon blockchains have become the new IPOs of the crypto era. There are no binding rules about how to execute an initial coin offering (ICO). Nonetheless, there have been enough of these soRead More


Regulatory Challenges Posed by Crypto Funds

Dec 5th, 2017 | Filed under: Emerging Asset Classes, Access to Alternatives, Featured Post, Newly Added, Asset Allocation, Hedge Funds, Commodities & Natural Resources

A forthcoming paper in the Stanford Journal of Law, Business, and Finance looks at the cryptocurrency markets (bitcoin and its kin), the hedge funds that look to make money from them and the operational issues involved. Two independent scholars collaborated on writing the paper: Edmund Mokhtarian and Alexander Lindgren. AlthoughRead More


QUANT STRATEGIES IN THE CRYPTOCURRENCY SPACE

Nov 21st, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added

By Nicolas Rabener, FactorResearch Factor Investing in the Wild West of Financial Markets Summary: Cryptocurrencies have reached a market capitalisation of > $150bn Backtesting quantitative strategies is difficult given a limited trading history & universe Short-term Momentum works very well, classic factor investing strategies less so INTRODUCTION The year 2017Read More


Can We All Participate in The Next Unicorn?

Aug 28th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Newly Added

Excerpted from the Alternative Investment Analyst Review, Volume 6, Issue 1 The Alternative Investment Analyst Review is the official publication of the CAIA Association. Access to the most current issue is an exclusive benefit of CAIA Membership while archived issues are available to the public in the Perspectives section atRead More


Blockchains, Innovations, and Intermediaries

Aug 17th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added

A new paper by Wulf A. Kaal, an Associate Professor at the University of St. Thomas in Minnesota, looks at the proliferation of blockchain-related innovations in the world of private investment funds. In an earlier paper, Kaal discussed the impact this is having on the fee structure of that industry.Read More


Wine: French Producers, U.S. Consumers, the World’s Investors        

Jul 4th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, Commodities & Natural Resources

Agrifrance recently posted a report looking at the French wine industry, with an especial focus on export to the United States. The U.S. “has been the world’s leading wine market by value since 2013,” says the company head, Benoit Léchenault, in a preface to the report. France is the secondRead More


Marketplace Lending: Just Because I’m Disruptive Doesn’t Mean We Can’t Be Friends!

May 23rd, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, ESG

Mark Shore, chief research officer of Shore Capital Research, and an adjunct professor at DePaul University, has prepared an “overview” of marketplace lending for institutional investors and wealth managers. The practice under discussion is also known as peer-to-peer, or even in these character economizing days as P2P, lending. Shore explainsRead More


The Cryptocurrency Ecosystem: A New Benchmark Study

May 16th, 2017 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Asset Allocation

It is clear by now to even the most hardened skeptic that cryptocurrency, the class of assets of which bitcoin is the paradigm, is much more than a passing fad. Yes, the field may once have been too closely associated with survivalists, cranks, and bit players in the story ofRead More


On the Bitcoin Blockchain: Looking Under the Hood

Jan 19th, 2017 | Filed under: Data Science & AI, Emerging Asset Classes, Access to Alternatives, Featured Post, Newly Added, Asset Allocation

More than a year ago, the Capco Institute Journal of Financial Transformation (Journal) ran a “critical assessment,” by Robert Sams, of bitcoin blockchains as a means of distributed clearing. With both bitcoins and blockchains newly in the news, Sams’ informed assessment is worth another look. Two years ago, Nasdaq announcedRead More


Ammar on the Implied Volatility Smile

Dec 22nd, 2016 | Filed under: Emerging Asset Classes, Featured Post, Newly Added, Risk Management

In a new working paper, a scholar at the School of Finance, at the University of St Gallen, Switzerland,   Semir Ben Ammar, has analyzed the relationship between catastrophe risk and the “implied volatility smile” in stock options.  Along the way, he has proposed what may be a novel type ofRead More


For The Netherlands: Sustainable Development Proposal

Dec 18th, 2016 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, ESG

Eighteen major financial institutions, including ABN AMRO and ING Groenbank, have signed onto an ambitious program for sustainable development goals’ investment (SDGI). The institutions involved proclaim that they believe it is in their best interest, “as well as that of our clients and investees, to consider the largest societal challengesRead More


Islam, Western Pensions, and Real Assets

Oct 18th, 2016 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, Asset Allocation, Commodities & Natural Resources

A recent academic discussion of the much-vexed question of Islamic finance (including the always at least implicit query, how does it fit into the broader usually non-Islamic global picture?) focuses on the role in Islam of real assets, understood as tangible objects such as land, buildings, machinery, and commodities. TheRead More


Kyle Bass, IPR and Shorting Big Pharma

Sep 22nd, 2016 | Filed under: Emerging Asset Classes, State of the Industry, Featured Post, Newly Added, Commodities & Natural Resources

Kyle Bass, the investor who shorted the market in residential mortgage-based securities a decade ago, with speculator success, is interested now in shorting the major pharmaceutical companies. He is certainly entitled to try that play. But what is especially provocative and controversial is that he also seems willing to giveRead More


ESMA’s Greybeards Ponder Blockchains

Sep 11th, 2016 | Filed under: Data Science & AI, Emerging Asset Classes, State of the Industry, Access to Alternatives, Featured Post, Newly Added, Asset Allocation

There has been a flurry in recent days of activity about blockchains among the graybeards of the financial world, those who ponder the Really Big Picture and who have the ear of important regulators. Let us start from the beginning. What is a blockchain? It is a chronological, virtual, andRead More


Where We Stand With Blockchains: Bet on the Disruption

Mar 29th, 2016 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Newly Added, Asset Allocation

Chris Skinner has a new book out, ValueWeb, which describes in the words of its lengthy subtitle “how FinTech Firms are Using Bitcoin Blockchain and Mobile Technologies to Create the Internet of Value.” It may appear to a cynic that Skinner is simply entering the already crowded sweepstakes for “whoRead More


Bitcoin’s Founder: Recent History and 2020 Vision

Dec 17th, 2015 | Filed under: Emerging Asset Classes, State of the Industry, Access to Alternatives, Newly Added, Asset Allocation

Two things happened almost at once recently: Wired told us who actually invented bitcoin, (well, it gave the world the latest hot theory), and officials in Australia raided that same fellow’s home in re a tax investigation. More specifically on the first of those points, Wired (and soon thereafter Gizmodo)Read More


So, what is reinsurance anyway?

Oct 5th, 2015 | Filed under: Emerging Asset Classes

Guest columnist Don Steinbrugge on the basics of reinsurance as an investment strategy.Read More


An Overview of Real Asset Investing

Aug 26th, 2015 | Filed under: Emerging Asset Classes, Real Estate, Private Equity, Infrastructure, Risk Management

Guest columnist Andrew Smith, CAIA, provides an overview of real assets and their commensurate risks and rewards.Read More


SCOTUS on Copyright Means a Win for Fences: Loss for the Noosphere

Jul 6th, 2015 | Filed under: Emerging Asset Classes, State of the Industry

An idea for the hierarchical design of a platform's APIs, and a particular expression of that idea, walk into a bar. What's the punch line? Read More


Who Will Meet Yahoo at the Altar?

Jun 16th, 2015 | Filed under: Data Science & AI, Emerging Asset Classes, Real Estate, Hedge Funds

There was some excitement as recently as January 2015 over renewed talk of a Yahoo/AOL deal, but after the bloom finally came off that rose, YHOO settled into a trading range has been roughly from $42 to $46. Faille guesses that there is an opportunity here on the upside of that range, because another suitor is bound to appear.Read More


Java IP War: The Obama Administration Picks the Wrong Side

Jun 8th, 2015 | Filed under: Data Science & AI, Emerging Asset Classes

The Solicitor General, speaking for the United States, has filed the expected amicus brief in the Google/Oracle showdown. The SG's position is that the Supreme Court should refuse to hear the case so that the lower courts can get back to using what the brief calls the "flexible fair use doctrine" to do justice. Read More


What’s in a Copyright? Java API Case Before U.S. Supreme Court

May 25th, 2015 | Filed under: Data Science & AI, Emerging Asset Classes, State of the Industry

High-stakes litigation between Google and Oracle approaches its resolution at the Supreme Court. For seekers of alpha, this isn't just about what investments to make, but about the way one goes about making them, the very mechanics of trading. Read More


Aleynikov’s Trial and My Cousin Vinnie

Apr 21st, 2015 | Filed under: Data Science & AI, Emerging Asset Classes, Access to Alternatives

A party seeking to employ an expert witness is supposed to let the other side know who the expert is in advance of trial. Fans of a classic Joe Pesci movie will remember that it isn't necessary to join the prosecutor in a hunting lodge. Read More


Crowdfunding: In the Gun Sights of Patent Plaintiffs

Feb 3rd, 2015 | Filed under: Emerging Asset Classes, Access to Alternatives

The first of the three patents cited by the plaintiffs was filed at a time when the crowdfunding exemption movement was making a fair amount of noise on Capitol Hill, though it had not yet had tangible success. One might already entertain certain suspicions. Read More


Isn’t all Software Abstract?: A Meditation on Alice Corp.

Jun 24th, 2014 | Filed under: Data Science & AI, Emerging Asset Classes, Access to Alternatives

Justice Thomas writes, "Deciding whether or not a particular claim is abstract can feel subjective and unsystematic, and the debate often trends toward the metaphysical, littered with unhelpful analogies and generalizations.” He has not given the debate a different turn, it will continue to trend toward the metaphysical etc. Read More