Chief Investment Quarterly
Buffett's One Choice Buffet
June 7, 2019
We challenge an assertion in Warren Buffett's latest annual letter and emphasize the need for diversification for pensions and endowments.
Asset Allocation
You Can’t Hedge, but You Can Diversify
May 8, 2019
Investors may benefit from adding diversifiers to their portfolios, but diversifiers aren’t hedges. Hedges serve a different purpose…unless they’re from Texas.
Retirement
Who Knew Annuities Could Be So Exciting?!
May 8, 2019
The debate over annuities in Defined Contribution (DC) plans is so boring that it’s a bipartisan issue. But, their impact on retiree consumption is actually pretty exciting.
Global Macro
Fed Policy Plays Catch-Up
May 8, 2019
Markets surged ahead in the first quarter largely in reaction to central bank policy that was more dovish than expected. However, markets may not fully appreciate the Fed’s ability to generate inflation.