Active investment management’s weekly magazine for fee-based advisors

Perry Kaufman

Let’s be realistic about drawdowns

Portfolio drawdowns are a fact of life for professional investment managers and financial advisors—and the clients who depend on both of them. Understanding the nature of drawdowns—and the relationships of various investment vehicles on a risk-adjusted...

Keeping portfolio risk under control

Understanding the tools to better manage portfolio risk throughout different market, volatility, and economic regimes. One major gripe of mine is that some portfolio strategists who consider themselves to be risk managers are effectively just risk...

Low volatility—high returns?

What offers a better opportunity for investment returns: low-volatility or high-volatility markets? It doesn’t seem possible that low-volatility markets might deliver better returns than the converse of more alpha being delivered in volatile markets. It...