The coronavirus is proving to be a black swan event – unpredictable and with massive consequences

After a decade of reasonable tranquility — and disappointment — global equity markets have hit another “black swan,” and trust me I use that word with fearful caution. The coronavirus is truly a black swan in the sense of being both unpredictable and an event … Continue readingThe coronavirus is proving to be a black swan event – unpredictable and with massive consequences

The power of portfolio flexibility

Many investment managers apply strict portfolio constraints as part of their risk management process. These often include limits in sector over-/under-weightings, geographic concentrations, minimum levels of portfolio holdings and/or market capitalization requirements. The challenge around these types of curbs is that while they are designed … Continue readingThe power of portfolio flexibility