Research

The Investor Identity Crisis I & II: Redefining Who We Are and Where We Are Headed in the Midst of a “Once in a Century” Market Meltdown
The two 2008 National Strategic Investment Dialogue (NSID) sessions took place in the throes of the biggest financial crisis since the great depression as economic activity collapsed, confidence in global markets plunged, and investors sought safety and liquidity. Against this backdrop, the selected groups of respected fiduciaries and leaders of the investment community participating in the NSID focused on developing an understanding of the causes and consequences of the crisis and a reassessment of long-held capital market assumptions. Since our fall session in Chicago, the size and scope of the global policy response to the crisis has been intensifying — central banks are injecting massive amounts of liquidity to shore up banks and payment systems, government deficits are ballooning to prime the pump of economic activity, and regulators are expanding their controls. As we concluded in Chicago, investors should expect a period of greater government involvement in, and regulation of, financial markets.
To request a copy of the 2008 NSID Year in Review, please send us an email with your full contact information.
Profiting from Risk: Emerging Challenges, Strategies and the Search for the Optimum Portfolio
The two 2007 National Strategic Investment Dialogue (NSID) regional sessions explored how our concepts of risk are changing and how we can alter our views to embrace and build upon the opportunities that greater understanding of risk can bring. Specific focus was placed on how investors can systematically identify the risks they face including those hidden risks that are often overlooked and new sources that are emerging. Participants also considered how new investment vehicles and strategies are changing the risk equation with attention devoted to complex hedging strategies, the increasing use of derivatives and the globalization of asset allocation. To request a copy of the 2007 NSID Year in Review, please send an email with your full contact information.
Reinventing the Portfolio: Toward a New Investment Paradigm
The two 2006 National Strategic Investment Dialogue (NSID) regional sessions focused on the challenges, complexities and innovation associated with managing portfolios. Participants explored issues driving the sea change that is transforming the investment world. Views on semantic risk and the potential missteps from interpreted differences in our words exposed challenges we face with terms used in our everyday activities. The proliferation of next generation security and strategy offerings also served to highlight the increasing complexity of portfolio management. In the end, all of this amplifies the governance and risk management challenges for investors and fiduciaries. To request a copy of the 2006 NSID Year in Review, please send an email with your full contact information.
Absolute Returns, Relative Risks: The Changing State of the Art in Strategies for Investing in Hedge Funds
The two National Strategic Investment Dialogue (NSID) regional sessions held in 2005 built upon themes and ideas which surfaced in the prior year’s NSID. The 2005 sessions focused on the challenges and complexities associated with harnessing the benefits of hedge funds, including exploring emerging opportunities of alpha and advanced portable alpha techniques. Participants discussed the concept and process of decoupling and re-coupling alpha and beta; the practical realities, pitfalls and success stories associated with the implementation of such strategies; and the hidden risks associated with such strategies both for investors and markets as a whole. To request a copy of the 2005 NSID Year in Review, please send an email with your full contact information.
The Investment Paradigm Shift: Why Future Investment Plans Should Not Assume Historical Investment Returns
The three National Strategic Investment Dialogue (NSID) conferences held in 2004 focused on why future returns are likely to fall short of those of recent years and how institutional investors will need to adapt to the new challenges of lower returns. Participants at the conferences discussed a wide range of approaches to finding more alpha in this new environment, and explored ways that fiduciaries can improve their policy portfolios by permitting greater use of advanced investment vehicles and techniques. To request a copy of the 2004 NSID Year in Review, please send an email with your full contact information.