Confessions of an Institutional Investor

Josh here – the other day I did a post about the amazing complexity and obsession with tail risk that’s caused so many professionally-managed investment pools to miss the market over the last few years (see: I don’t understand). Every general fights the last war, as they say, and a portfolio geared toward having a…

Western Europe as the “New Emerging Markets”

This is a tune I’ve been humming all spring / summer so far. Nice to see it going mainstream… From Reuters: Western European economies are spluttering to life again at last just as emerging markets cool down – confirming one of the investment themes of 2013 and questioning how much financial markets have already discounted these inflection…