Stanford University

Investment Think Tanks

Active management: turning the argument on its head

One of the enduring areas of asset management academic study, and practitioner query, is whether or not managers have skill. In his work, professor of finance at Stanford, Jonathan Berk, shows the answer doesn’t lie in returns but in manager compensation. Determining whether active skill exists is not the same as looking at whether […]

Amanda WhiteFebruary 5, 2014

Uncategorised posts

Tail risk parity, V 1.0

Just when you thought you were safe, the next reiteration of risk parity has arrived. AllianceBernstein’s tail risk parity takes the concept of risk parity, reallocating assets uniformly according to risk, but it uses tail risk, not volatility, as the core measure. The concept of risk parity is a portfolio diversified according to risk, rather […]

Amanda WhiteMay 22, 2013

Research

Organisational sharing: the new cost-saving network

Although it may sound like an idea left over from the longhaired summer of love or – heaven forbid! – some shaggy utopian age of socialism, a growing number of institutional investors have felt widespread dissatisfaction with the third-party services for sale on Wall Street. Why it took them so long, God only knows. In […]

STAFF WRITERNovember 21, 2012