Liquidity When You Need It

30 Sep 2016

This month’s ALM Insights is a return to one of my favorite topics, bond market liquidity. In the September 2013 issue I wrote Liquidity as a Risk Factor – which highlighted the impact that liquidity can have on expected return. I wrote on liquidity again in the June 2015 issue in Is Bond Market Liquidity Gone? – where I looked into how market liquidity can change over time. Well the… Read More

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Is the Grass Greener in Private Equity?

26 Sep 2016

Private equity is in the news quite a bit, but finding the returns for this asset class is somewhat more challenging. There are a lot of stories about mega returns, but as they say at the University of Chicago, multiple anecdotes don’t make data. Until recently, I only had small windows into the world of private equity returns. First, when private equity management firms like Blackstone, KKR, and the Carlyle… Read More

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