Managing Longevity Risk at the Individual and Institutional Level

Private Equity Performance: Another Look

Climate Change and Asset Allocation

Sources of Deep Systemic Risk

Market Microstructure's Impact on Volatility, Liquidity, and Correlation

A Primer on Volatility

Review of the IMF's Latest World Economic Outlook

Uncertainty, Information, and Active Management

Value Premium, R.I.P.?

Active Management and Risk Budgeting

The Growth of the Exchange Traded Funds Market

Will Fundamental and Dividend Weighted Funds Deliver What They Promise?

When and How Should You Rebalance Your Portfolio?

What are Volatility and Credit Spreads Trying to Tell Us?

Technology, Customer, and Competitive Trends in Retail Financial Services

What to Make of Last Month's Turbulence in Many Financial Markets?

Is Timber Overvalued?

Do Sector Index Funds Make Sense for Your Portfolio?

Annual Economic Outlook

We conclude that while the economy and asset class valuations appear quite robust today, the underlying situation is increasingly fragile. While all natural systems resist going past a “tipping point” into a chaotic region, we do not believe that the global economy can resist this much longer….Assuming the global economy enters a period of chaos, we review two general scenarios to which it could be attracted, with one characterized by cooperative solutions and the other by growing conflicts… We focus on the three key groups – the American middle class, Chinese peasants, and young Iranians – whose behavior will likely determine the future course of global events.

Are Commodity Index Funds Overvalued?

Are Commercial Property Funds Overvalued?

The Impact of Three Scenarios on Our Asset Class Pricing Models: (1) Rapid Unwinding of Global Current Account Imbalances; (2) Escalating Tensions Between the West and the Islamic World; and (3) a Severe Influenza Pandemic

Logical Implications of Your Beliefs About Forecasting for Your Investment Philosophy and Management Approach