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Explore publications by Kaleidoscope researchers
First Quarter 2015
Over the past five years, hedge funds and value investors have struggled. We explain that value investing is a form of insurance underwriting. We argue that the Fed's market interventions have been disrupting this activity, contributing to its lackluster performance. Finally, we suggest ways for value investors to avoid Fed manipulation. Download.
Most investors focus too heavily on alpha generation at the expense of constructing a truly diversified portfolio. We argue that two simple portfolio construction rules can vastly improve the performance of many portfolios. While many managers find today's "risk-on, risk-off" environment challenging, we show that high correlations can actually be harnessed to create portfolios with good risk-adjusted returns. Download.
Delivered 7/18/2014 at the Drobny Global conference in New York, NY.