Mid-Caps – The Hidden Champions?

Mid-Caps – The Hidden Champions? Analyzing the In-Betweener Stocks June 2021. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY Mid-cap stocks are less popular than small or large caps In the US, they only outperformed in one out of 10 decades Globally,...

Liquid Alt Juggernauts: Worth their Salt?

Liquid Alt Juggernauts: Worth their Salt? Nope. June 2021. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY Liquid alternative mutual funds only captured 10% of the market share from hedge funds The alpha generated since 2013 was essentially zero Long-short...

The Case against EM Equities

The Case Against EM Equities Questioning the emerging markets growth story June 2021. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY EM equities are highly correlated to US stocks & high yield bonds, limiting diversification benefits They outperform...

Portfolio Construction in Venture Capital

Portfolio Construction in Venture Capital Lessons from public markets May 2021. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY A few winners generate most of the venture capital returns Given this asymmetrical return distribution, portfolios should be...

Improving the Odds of Value Investing

Improving the Odds of Value Investing Tactical versus Strategic Allocations to Value May 2021. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY The stock market volatility, skewness, and yield curve influence the performance of the value factor Investors...