Creating Anti-Fragile Portfolios

Creating Anti-Fragile Portfolios Is Your Portfolio Long or Short Vol? August 2020. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY Most asset classes are bets on economic growth Diversified endowment-style portfolios are essentially short volatility Long...

Tactical ETFs: Tactfully No, Thank You?

Tactical ETFs: Tactfully No, Thank You? “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” – Sun Tzu May 2020. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY Tactical investing...

Global Pension Funds: The Coming Storm

Global Pension Funds: The Coming StormThe Gloomy Outlook for Returns & Pension Funds December 2019. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY The outlook for US equity and bond returns is low based on historical data The return assumptions of US...

Equity vs Bond Indices

Equity vs Bond IndicesA Case for Active Management in Fixed Income?  November 2019. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARYBond indices are frequently portrayed as featuring a lower quality composition than equity indicesAnalysing equity and bond...