The Alternative Investments Channel

Advisors and Clients Walking past Each Other on Sustainable Investment

Did you know that more than $12 trillion in assets under management are engaged in one or more strategies of sustainable investment in the United States? This comprises more than 25 percent of the professional managed assets across the country and is a 38 percent growth from 2016 figures.

Three Highlights from the MarketCounsel Summit

MarketCounsel’s Summit, held earlier this week in Miami, lived up to its reputation as the “all-star game” of financial advisor conferences, attracting top-level executives from throughout the investment industry. Here are three highlights from Tuesday’s sessions.

Insured municipals offer investors additional assurance

Insured bonds continue to pay interest and principal even if an issuer defaults.

Was Renaissance’s Success Luck or Skill – And Was It Behind Trump’s Victory?

The hedge fund firm Renaissance Technologies, founded by James Simons, has been an object of amazement, admiration, and envy for years, because of the incredibly high investment returns of its flagship Medallion fund. In a new book, author Gregory Zuckerman explains how Renaissance did it. He also shows how a key Renaissance employee used his riches to get Donald Trump elected president.

Supercharge Your Gold Position With Precious Metal Royalty Companies

One of the best ways to “supercharge” your gold position is with precious metal royalty and streaming companies. Think Franco-Nevada, Wheaton Precious Metals, Royal Gold and others.

Navigating U.S. Wealth Management: Seven Ideas for Financial Advisors and Individual Investors in 20

We aim to support wealth management firms, advisors, and investors as they assess portfolio strategy and navigate the shifting trends we face in the new year.

A Perspective on Secular Bull and Bear Markets

Was the March 2009 low the end of a secular bear market and the beginning of a secular bull? At this point, over ten years later, the S&P 500 has set a series of inflation-adjusted record highs based on monthly averages of daily closes.

Four Reasons Investors Shouldn’t Shy Away from Illiquid Alternatives

Many investors are somewhat skittish about illiquid alternatives because they’re worried about tying up their money for a long time in an investment that they can’t trade or exchange easily. However, illiquidity may actually work to investors’ advantage.

Market Valuation, Inflation and Treasury Yields: Clues from the Past

Our monthly market valuation updates have long had the same conclusion: US stock indexes are significantly overvalued, which suggests cautious expectations on investment returns. In a "normal" market environment -- one with conventional business cycles, Federal Reserve policy, interest rates and inflation -- current valuation levels would be a serious concern.

But these are different times.

Crestmont Market Valuation Update: November 2019

Quick take: Based on the November S&P 500 average of daily closes, the Crestmont P/E is 135% above its arithmetic mean and at the 100th percentile of this fourteen-plus-decade monthly metric.

Does the American Shopping Mall Have a Future?

Black Friday is around the corner. Will US shoppers head to the mall? Or are malls out of fashion for good? The debate about the retail apocalypse is playing out in a single bond index.

Conference Board Leading Economic Index Down for Third Consecutive Month

The latest Conference Board Leading Economic Index (LEI) for October fell to 111.7, down from the revised September figure of 111.8.

Resilient Private Income in Late-Cycle Markets

Private markets remain a key source of income for institutional portfolios, but late-cycle concerns demand a thoughtful approach to opportunities and risks.

Margin Debt and the Market: Down 0.2% in October

FINRA has released new data for margin debt, now available through October. The latest debt level is down 0.23% month-over-month.

The Illusion of the Value Factor and Alpha

Despite decades of academics and practitioners promoting the “value factor,” it generates marginal to no long-term alpha. Four reasons have slowed the transition from the accepted “value” regime (low price to something) towards a more robust and realistic true value regime (worth measured independent of market price and focused on the value of future cash flows).