OfficeHours

JULY 11, 2023

On that note though — if diversity events are starting though… You know On-Cycle is around the corner here… Questions I would ask if I was an Analyst in an in-person diversity session: I just saw X deal happen, new portfolio company — were you involved with that? Are you focused on recruiting in 2023?

Investment Banking 130

Investment Banking Banking Bank Middle Market 130

FineMark

OCTOBER 17, 2023

Rather than trying to predict the future, we prefer to construct solid portfolios, focus on longer-term investable themes, and identify third-party manager talent with demonstrable (and persistent) alpha-generation ability. For 2023, we were cautious, citing a low single-digit return expectation for the U.S. This year was no different.

S&P 52

S&P Investment Portfolio Corporation 52

FineMark

APRIL 13, 2023

The first quarter of 2023’s equity market performance (shown in Figure 1, below) exemplifies why such scenarios — and their accompanying dire reports — don’t necessarily beget lower market prices nor should they cause an overreaction. To best leverage AI, this investment theme will be implemented within our clients’ portfolios as appropriate.

Banking 52

Banking Bank Investment Economics 52

FineMark

JANUARY 20, 2023

The two-front assault faced by traditional 60% equity and 40% fixed income (60/40) portfolios in 2022 was one of the most severe on record, and the worst seen in many years. As a result, this normally stabilizing counterbalance, instead contributed to additional portfolio losses.

Economics 52

Economics Portfolio Equities Investors 52

Mergers and Inquisitions

JANUARY 31, 2024

Portfolio Structure: Unlike MM portfolios, SM portfolios do not have to be market–neutral or based on pair trades; many SM funds also tend to run much more concentrated portfolios (e.g., 10 – 15 positions rather than 100+). This is especially common in areas like distressed debt investing that depend heavily on catalysts.

Funds 59

Funds Management S&P Recruitment 59

Mergers and Inquisitions

NOVEMBER 15, 2023

I’ve now been writing about finance careers for almost 20 years, and the topic of the CFA for investment banking never seems to die. I first criticized the CFA in a 2009 article , which generated a lot of angry comments. But earlier in 2023, the CFA Institute announced the biggest changes to the program since it started.

CFA 59

CFA Investment Banking Banking Bank 59

FineMark

JULY 13, 2023

To quantify this precisely, 10 specific issues out of the S&P 500* have generated nearly 80% of the index’s returns thus far for 2023. As reported in the June 27, 2023, Wall Street Journal article entitled, “ U.S. We’ve created two graphics to illustrate this situation.

S&P 52

S&P Banking Bank Investment 52