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Would You Take Warren Buffett’s Bet?

Tadas Viskanta, editor of the must-read Absolute Returns blog, asked the following question: “Let’s say Warren Buffett re-ups his famous decade-long bet. (He’s not.) He takes the S&P 500. What would you take (and why)?” There were several really insightful answers (which you can read here). But the consensus seemed to be that the S&P […]

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Alternative Investments Gone Wrong: The Story Of The Dallas Police Pension Plan

Alternative investments can both reduce risk and boost returns in a well-constructed portfolio, particularly at a time when traditional investments like stocks and bonds are expensive and priced to deliver disappointing returns. But the key word here is can. Alternative investments can deliver that holy grail of higher risk-adjusted returns if chosen carefully and in […]

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Taking Their Pound of Flesh: How Much Should You Pay an Alternatives Manager?

My friend and colleague Ari Rastegar was mentioned by the Wall Street Journal this week.  You can read the full article here, but I’ve covered some of the highlights below. If you think paying a 20% cut in profits is steep, try paying 25% or 30%, or how about 50%? Ari Rastegar, who worked for […]

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In Defense of Hedge Funds…

Photo credit: Sean Davis Hedge funds don’t get a lot of love these days. They’ve underperformed for years, and their fees — the standard is 2% of assets and 20% of profits — make them a pariah in the age of indexing and low-cost robo advisors. Hey, I get it. The high fees and lousy […]

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Liquid Alternative Investments for Ordinary Investors

Barron’s did a nice special report this week on AQR’s liquid alternative investments. AQR, which is run by Cliff Asness, John Liew and David Kabiller, is a pioneer in the liquid alternatives space and manages an impressive $141 billion in assets. They also happen to be a competitor of mine. My partner, Dr. Phillip Guerra, […]

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