What makes most investors believe that private capital funds are such clear outperformers? The use of since-inception internal rate of return (IRR) as the industry’s preferred performance metric and the media’s coverage of the sector are to blame.| CFA Institute Enterprising Investor
Selected resource-heavy industries and equity factors, namely value and momentum, can help to hedge against inflation.| Outcast Beta
We show analytically, simulate and demonstrate empirically that portfolio volatility normalized by Sharpe ratio predicts drawdown risk.| Outcast Beta