bps and pieces

June's research roundup features:

• Diversification within trend-following strategies
• Growth equity in PE
• The state of core real estate 
• Middle market misperceptions
• Bond market signals 
• Continuation fund performance
• Stagflation risk
• Private equity's challenging exit/fundraising environment
• Tax-aware long-short strategies
• Second-order AI investment opportunities
• Private capital and professional sports
• Factor Timing
• Europe's private credit moment
• Performance persistence in private markets

May's research roundup features:

• The case for store-of-value assets
• Enhancing Treasuries with merger arbitrage
• Fixed income outside of "the Agg"
• Private equity eating the small-cap premium 
• The many faces of growth investing
• Evergreen PE funds
• Public and private credit convergence
• Investor behavior in stocks and bonds
• Base rates for drawdowns and recoveries of individual stocks
• Equity investing amid trade wars
• Forecasted private markets growth
• Private credit mythbusting

April's research roundup features:

• The case for international stocks
• A historical analysis of tariffs
• Stagflation and portfolio defense
• Cold storage real estate 
• Infrastructure secondaries
• Capital solutions as an asset class
• Long-run return expectations
• Patience and trend-following strategies
• Reimagining the endowment model
• Public and private equity valuations
• Avoiding value traps in small-cap stocks
• European private capital opportunities

March's research roundup features:

• A possible growth-to-value rotation
• State pension plan asset allocation trends
• Drivers of private equity outperformance
• Decomposing the last 10 years of equity market returns
• Options-based buffer strategies
• Lower-middle market PE opportunities
• Economic regime detection in the investment process
• Real assets and inflation hedging
• Parallels between the AI boom and the Dot-Com bubble
• The role of NAV loans in fund finance
• Alternative property types in commercial real estate
• Spending shortfall risk and illiquidity budgeting

February's research roundup features:

• PIK income in direct lending
• Equity long/short tailwinds
• Growth equity in private markets
• High-grade corporate debt vs. Treasury bonds
• International quality stocks
• Royalties as an asset class
• The resiliency of systematic investment strategies
• Private equity's outlook for 2025 and beyond
• Balancing probabilities and payoffs
• Portable alpha frameworks
• A record year for secondaries
• Emerging market return drivers

January's research roundup features:

• Public vs. private infrastructure
• Venture capital secondaries
• Commercial real estate's investable universe
• Private credit's next act
• GP stakes' role in a portfolio
• Specialty finance investing
• The convergence of public and private debt
• Earnings growth expectations for U.S. stocks
• Global macro performance across monetary regimes
• Startup founder ownership trends
• Contrarian ideas for equity investors

December's research roundup features:

• Direct lending's wall of worry
• GP-led secondaries in VC/Growth
• Sizing bitcoin in a portfolio
• Avoiding dividend-paying stocks
• Sector specialists in private equity
• AI infrastructure and next-gen data centers
• Permanent crops and farmland investing
• U.S. equity market outlook
• The exit environment in private markets
• Portable alpha and managed futures
• Long volatility strategies
• Passive investing's impact on markets
• Non-U.S. small caps

November's research roundup features:

• Pairing trend-following and long-short quality
• Stock and bond correlation
• Emerging market debt
• Private infrastructure
• European private equity
• Finding an edge in secondaries
• The evolution of alpha
• Sizing long volatility strategies
• Commitment pacing in private markets
• Machine learning applied to stock selection
• Capturing the low-volatility anomaly

October's research roundup features:

• Evergreen funds vs. drawdown funds
• Thoughts on asset allocation
• Negative sentiment in clean energy stocks
• Infrastructure's performance during the inflation storm
• Risk Parity
• Alternative risk premia strategies
• The perils of partisan investing
• American stock market exceptionalism 
• Private credit's next era
• Endowment model evolution

September's research roundup features:

• Investing amid election season
• Yield curve dynamics
• Equity market rotation
• Negative sentiment and private debt
• The private equity return premium
• NAV Lending
• Less-efficient markets
• Sizing alternatives allocations
• Secondaries and the efficient frontier
• Japanese small caps
• GP-Led Transactions

August's research roundup features:

• Valuation premiums for growth-stage private companies
• Portable alpha 
• Quant investing's renaissance
• The 'de-horning" of venture-backed Unicorns
• Deep value stocks
• The state of the American consumer
• Private credit's next act
• Index deletions
• AI financial analysts

July's research roundup features:

• Data science applied to LP-led secondaries
• Trend following and long/short quality as an alternative to bonds
• Life cycles of market leaders
• The difficulty of being a patient investor
• Building a hedge fund portfolio
• The case for small buyouts in PE
• Equity issuance vs. buybacks
• Holding companies
• Endowment performance
• And much more!