- Alternative Assets
- Global Macroeconomics
- Markets
- Miscellaneous
- Portfolio Management
- Quarterly Global Valuations
- Wealth Management
Miscellaneous
Firm
Type
Alternative Assets
September 2026
The Financing Gap in Sports
Apollo
Research
21 Pages
The authors examine sports as an increasingly institutionalized asset class, arguing that soaring franchise values and conservative balance sheets create a financing gap.
Miscellaneous
August 2026
Federal Data Terminations Tracker
dataindex.us
Research
108 Pages
The Federal Data Terminations Tracker shares the most policy-relevant, verified source of federal datasets terminated since January 2025.
Miscellaneous
August 2026
The Wisdom of Crowds in Markets
Counterpoint Global
Research
58 Pages
Michael Mauboussin reviews the wisdom of crowds in the context of prediction markets, sports betting markets, parimutuel betting markets, and the stock market, finding it is a powerful way to explain how markets capture known information, making them generally efficient (and hard to beat).
Financial Fraud
July 2026
TikTok gurus made property investing look easy. I lost thousands
The Economist
Article
6 Pages
The Economist explores how social media property influencers turned real estate investing into a seemingly effortless path to wealth.
Miscellaneous
July 2026
Gaming Gambling’s Elements
Research
17 Pages
John Holden examines how gambling’s traditional three-part test—consideration, chance, and prize—is struggling with loot boxes, daily fantasy sports, sweepstakes casinos, and prediction markets.
Miscellaneous
June 2026
Facts From 1H26
Research
The Idea Farm highlights 70 data points from the first half of 2026 that capture shifts across investing, AI, markets, demographics, technology, and geopolitics.
Financial Fraud
June 2026
The Cattle Empire That Turned Out to Be a Giant Ponzi Scheme
The Wall Street Journal
Article
4 Pages
The Wall Street Journal examines how Brian McClain’s cattle operation became a $170 million fraud built on imaginary livestock.
Bubbles
June 2026
Over the (Very) Long Run, Stock Bubbles Are Rare
Yale University
Article
5 Pages
Yale Insights looks at whether rapid industry booms usually spill into broader market crashes.
Miscellaneous
June 2026
How Barnes & Noble Became Private Equity’s Most Radical Retail Experiment
Bloomberg
Research
3 Pages
Bloomberg explains how Barnes & Noble CEO James Daunt seems to have pulled off one of retail’s most surprising turnarounds.
Chris Hohn
May 2026
How Chris Hohn built the world’s most profitable hedge fund
Financial Times
Article
4 Pages
Financial Times profiles how Chris Hohn turned TCI into a hedge fund built around concentration, moats and philanthropy.
Financial History
May 2026
Finaeon Guide to Global Financial Markets 2026 Edition
Finaeon
Research
350 Pages
Bryan Taylor’s annual paper provides comprehensive coverage of the performance of financial markets in 27 countries and 3 global markets.
Financial History
May 2026
Six lessons from history’s greatest financial crises
Financial Times
Article
48 Pages
Financial Times uses financial history to show why today’s risks are not as new as they appear.
Miscellaneous
May 2026
Global Unicorn
Value Add VC
Article
6 Pages
Track and analyze 1,336 billion-dollar startups across 48 countries with comprehensive valuations and metrics.
Miscellaneous
May 2026
Mapping Home Price Changes
Federal Reserve Bank
Article
2 Pages
Explore year-over-year changes in home prices since 2003, both regionally and nationally, using this dynamic map — updated with new home price index data on a monthly basis. Hover over a county for granular data.
Alternative Assets
May 2026
In Wine Country, Sales Are Down and Fraud is Rampant
The New York Times
Research
5 Pages
The New York Times looks at why wine fraud keeps surfacing as the industry faces weaker demand, climate pressure, and financial strain.
Financial History
April 2026
The Miracle of Markets and the 100-Year Dataset That Changed the World
Dimensional
Research
10 Pages
Dimensional explains how 100 years of CRSP market data changed investing by replacing guesswork with evidence.
AI
April 2026
Misanthropic: on Mythos, bad human behaviors and systems vulnerabilities
J.P. Morgan Asset Management
Research
8 Pages
J.P. Morgan examines Anthropic’s new Mythos model and what its cyber capabilities imply for software, infrastructure, and security spending.
Financial History
April 2026
Housing Prices, Wars, and Epidemics over Six Centuries
Research
47 Pages
Swiss Finance Institute examines six centuries of Stockholm housing data to test how wars, bubbles, and epidemics affect house prices over time.
Financial History
April 2026
50 years. 50 facts. Indexing since 1976.
Vanguard
Article
5 Pages
Vanguard shared 50 facts from 50 years of index investing.
Financial History
April 2026
Reconstructing a Century of U.S. Corporate Bonds: Credit Risk in Historical Perspective
Research
65 Pages
The authors construct a new historical corporate bond database spanning 128 years, from 1895 to 2022, allowing them to estimate a corporate bond counterpart to the equity risk premium.
Alternative Assets
March 2026
An Index of Commodity Futures Returns Since 1871
Research
22 Pages
The authors document the returns to a broadly diversified index of commodity futures over more than 150 years of U.S. market history.
Decision Making
March 2026
The Failure Gap
Research
74 Pages
People are systematically unaware of the mishaps, problems, and failures around them, a phenomenon we dub the failure gap.
Developed Markets
March 2026
The long-term performance of Swiss equities and bonds (1900–2025)
Pictet
Research
12 Pages
Pictet Wealth Management analyzes the long-term performance of Swiss equities and bonds back to 1900.
Innovation
March 2026
Chips ahoy: The semiconductor
UBS
Research
12 Pages
This edition of UBS' 250 years of US innovation publication series explores the history and application of the semiconductor and microchip.
Miscellaneous
March 2026
Kalshi and the Rise of Macro Markets
Federal Reserve Bank
Research
41 Pages
A Fed study suggest that Kalshi markets provide a high-frequency, continuously updated, distributionally rich benchmark that is valuable to both researchers and policymakers.
Annual Report
March 2026
Global Investment Returns Yearbook 2026
UBS
Research
24 Pages
The UBS Global Investment Returns Yearbook offers a comprehensive record of long-term performance across stocks, bonds, bills, currencies, and other asset classes, tracing developments back to 1900.
Miscellaneous
January 2026
A Mystery Trader Made $400,000 Betting on Maduro’s Downfall
The Wall Street Journal
Article
3 Pages
A mystery trader made $400,000 betting on Maduro’s downfall, doubling down with a final bet on Polymarket at 9:58 p.m., shortly before President Trump ordered the military to strike.
Alternative Assets
December 2025
The Financing Gap in Sports: Unlocking a $2.5 Trillion Opportunity
Apollo
Research
15 Pages
Apollo explores how professional sports have become a large, underlevered asset class with a financing gap around $2.5 trillion. They argue that structured and private credit can help owners unlock liquidity while preserving control and long term franchise value.
Financial History
December 2025
Global Housing Returns, Discount Rates, and the Emergence of the Safe Asset, 1465 2024
Research
77 Pages
Boston College reconstructs centuries of housing returns and discount rates to understand how real estate and sovereign bonds evolved as core assets.
Miscellaneous
December 2025
The Untold Story of Charlie Munger’s Final Years
The Wall Street Journal
Article
3 Pages
Gregory Zuckerman recounts how Charlie Munger spent his final years still learning, investing and mentoring rather than quietly retiring.
Miscellaneous
November 2025
Thanksgiving Message from Warren Buffett
Berkshire Hathaway
Research
8 Pages
Warren Buffett’s farewell style Thanksgiving letter as he prepares to hand day to day leadership to Greg Abel.
Markets
March 2025
Global Investment Returns Yearbook 2025 (GIRY)
UBS
Research
22 Pages
UBS updated their annual GIRY, which highlights the evolution of global markets over the past 125 years.
Miscellaneous
March 2025
2025 Annual Shareholder Letter
Berkshire Hathaway
Research
15 Pages
Warren Buffett’s annual letter touches on the performance of US & Japanese investments, the rationale behind Berkshire’s investments and acquisitions, and more.
Miscellaneous
February 2025
Probabilities and Payoffs
Morgan Stanley
Research
49 Pages
Michael Mauboussin explains how quantifying scenario probabilities and mapping them to potential payoffs can improve investment strategies.
Markets
November 2024
Our Active Purpose: Lessons Learned From 100 Years of Investing
MFS
Research
8 Pages
MFS reflects on the firm's century-long investment journey, emphasizing the enduring value of long-term, fundamentals-driven active management.
Markets
November 2024
Pricing of Corporate Bonds: Evidence From a Century-Long Cross-Section
Research
48 Pages
This study presents a comprehensive corporate bond return database covering 128 years of U.S. financial history, offering insights into pricing patterns and risk factors that were previously obscured by shorter data samples.
Miscellaneous
October 2024
Ruminating on Asset Allocation
Oaktree
Research
9 Pages
Howard Marks outlines a foundational approach to asset allocation, emphasizing the core choice between ownership and lending, and how investors should consciously balance offense and defense based on their personal risk appetite and market conditions.
Miscellaneous
September 2024
Quarterly Report
Baron Funds
Research
10 Pages
Ron Baron’s does a 50 year look back on why he liked McDonald’s in 1970 (so much so that he named his dog Big-Mac), along with his current thoughts on the impact of AI and the benefit of long-term compounding.
Markets
June 2024
The Life Cycle of Market Champions
Bridgewater
Research
12 Pages
Bridgewater takes a historical look at how market champions of the past and if there are insights into how today’s market champions may perform in the next decade.
Markets
May 2024
Learn from Last Tech Bubble to Embrace GenAI Mania
Research Affiliates
Research
8 Pages
Research Affiliates studies the internet bubble of the 1990s as a guide for how to think about the AI craze today.
Miscellaneous
April 2024
The Indispensability of Risk
Oaktree
Research
4 Pages
Howard Marks shared how he thinks about taking, and not taking, risk.
Annual Report
March 2024
Global Investment Returns Yearbook 2024 (GIRY)
UBS
Research
57 Pages
This annual report from UBS is a great guide to historical returns for, covering 35 markets and five composite indexes, with some dating back to 1900. It’s one of our favorite reads every year.
Investor Letters
February 2024
Annual Letter to Shareholders
Berkshire Hathaway
Research
16 Pages
Warren Buffett reflects on Berkshire Hathaway’s strong 2023 performance, highlighting disciplined capital management, record cash levels, and the company’s readiness to act when opportunities arise.
Markets
February 2024
Principles for Investing Success
Vanguard
Research
32 Pages
Vanguard shares a guide to help investors focus on what’s important and give them the best chance for investment success.
Miscellaneous
January 2024
The Intellectual Rot of the Industrially Necessary University
Research
29 Pages
Ben Hunt critiques the transformation of modern American universities into rigid, bureaucratic entities that prioritize institutional survival and status over intellectual vitality and public service.
Investor Letters
February 2023
Shareholder Letter
Berkshire Hathaway
Research
10 Pages
Berkshire Hathaway reflects on business performance, capital allocation, and owner mindset, emphasizing endurance, discipline, and partnership.
Annual Report
February 2023
Global Investment Returns Yearbook 2023
Credit Suisse
Research
54 Pages
Credit Suisse Research Institute distills a century plus of global market history to frame realistic expectations for returns and risk.
Portfolio Management
November 2022
What Really Matters?
Oaktree
Article
1 Pages
Oaktree Capital explains why successful investing depends far less on forecasting, trading, and short term results than most investors believe.
Miscellaneous
September 2022
The Illusion of Knowledge
Oaktree
Research
1 Pages
Oaktree Capital explains why macroeconomic forecasting often creates the illusion of knowledge rather than a durable investment edge.
Annual Report
March 2022
Credit Suisse Global Investment Returns Yearbook 2022 Summary Edition
Credit Suisse
Research
50 Pages
Credit Suisse explores how 122 years of global asset returns can inform today’s inflation-driven regime shift.
Investor Letters
May 2021
Trying Too Hard
Batterymarch Financial Management
Research
9 Pages
Batterymarch Financial Management challenges the idea that better investing comes from more effort, information, or forecasting precision, arguing instead that investors may be overestimating their ability to predict outcomes.
Investor Letters
May 2021
Investing With Company Insight
Norges Bank Investment Management
Research
176 Pages
Norges Bank Investment Management explains how building company-level insight across a massive sovereign fund can drive consistent excess returns over time.
Annual Report
March 2021
Global Investment Returns Yearbook 2021 Summary Edition
Credit Suisse
Research
76 Pages
Credit Suisse Research Institute explores over a century of global market returns, with a particular focus on emerging markets and their evolving role in portfolios.
Miscellaneous
March 2021
2020 Shareholder Letter
Berkshire Hathaway
Research
14 Pages
Berkshire Hathaway reflects on its investment philosophy and long term performance, emphasizing disciplined capital allocation and the power of compounding over decades.
Miscellaneous
February 2021
Annual Investor Presentation
Pershing Square Holdings
Research
57 Pages
Pershing Square presents its annual investor update outlining portfolio positioning, performance drivers, and the firm’s concentrated investment philosophy.
Miscellaneous
May 2020
Uncertainty II
Oaktree
Research
7 Pages
Oaktree Capital explains why uncertainty is an unavoidable part of investing and why demanding certainty before acting can become a costly mistake.
Miscellaneous
May 2020
Uncertainty
Oaktree
Research
13 Pages
Oaktree Capital examines why uncertainty is unavoidable in investing and argues that acknowledging its limits can lead to better decision making.
Miscellaneous
April 2020
Baupost Annual Letter
Baupost Group
Research
17 Pages
Baupost Group reflects on how the pandemic shock exposed structural market fragility, while unprecedented policy responses distorted risk pricing and investor behavior.
Portfolio Management
April 2020
Equity Styles And the Spanish Flu
Robeco
Research
5 Pages
Robeco analyzes how equity factor styles behaved during the Spanish Flu alongside World War I, using extended historical data to study market stress before modern datasets.
Annual Report
February 2020
Summary Edition Credit Suisse Global Investment Returns Yearbook 2020
Credit Suisse
Research
48 Pages
Credit Suisse explores over a century of global asset returns, focusing on ESG investing, long-term performance, and factor strategies across 23 markets.
Miscellaneous
December 2019
Berkshire Hathaway 2019 Annual Report
Berkshire Hathaway
Research
144 Pages
Berkshire Hathaway’s 2019 annual letter centers on how accounting distortions, capital allocation discipline, and long-term equity optimism shape how investors should interpret performance.
Decision Making
September 2019
The Psychology of Prediction
The Collaborative Fund
Research
14 Pages
Morgan Housel explains how forecasting failures are driven more by human psychology than analytical shortcomings, framing prediction as a behavioral problem rather than a data problem.
Miscellaneous
June 2019
Russell US Indexes – 40 Years Of Insights
FTSE Russell
Research
31 Pages
FTSE Russell walks through the evolution of its US equity indexes, explaining how a rules-based, comprehensive framework reshaped benchmarking and passive investing.
Miscellaneous
February 2019
Berkshire Annual Report
Berkshire Hathaway
Research
140 Pages
Berkshire Hathaway’s 2018 annual report reflects on long term capital allocation, business performance, and market volatility, with Warren Buffett emphasizing discipline amid a late year equity drawdown.
Annual Report
February 2019
Summary Edition Credit Suisse Global Investment Returns Yearbook 2019
Credit Suisse
Research
43 Pages
Credit Suisse examines 119 years of global asset returns, comparing equities, bonds, and cash while exploring risk premiums, emerging markets, and factor investing across 23 countries.
Financial History
September 2018
Misleading Lessons of History
Newfound Research
Research
8 Pages
Newfound Research explores how investors often draw misleading conclusions from historical market data, especially when evaluating strategies and asset performance.
Markets
June 2018
Do Stocks Outperform Treasury bills?
Research
53 Pages
Hendrik Bessembinder examines why broad equity markets outperform Treasury bills even though most individual stocks do not.
Annual Report
February 2018
Credit Suisse Global Investment Returns Yearbook 2018
Credit Suisse
Research
43 Pages
Credit Suisse examines 118 years of global asset returns, factor investing, and private wealth performance to frame today’s low return environment.
Annual Report
February 2018
Credit Suisse Global Investment Returns Yearbook 2018
Credit Suisse
Research
22 Pages
Credit Suisse explores 118 years of asset returns, factor investing, and private wealth trends to frame today’s low return environment.
Markets
November 2017
The Rate of Return on Everything, 1870–2015
Federal Reserve Bank
Research
123 Pages
The study investigates historical returns across major asset classes since 1870, finding that both housing and equities have generated similar returns, though housing shows lower volatility. It also highlights that, globally, the weighted rate of return on capital was twice as high as the growth rate in the past 150 years.
Miscellaneous
October 2017
Catching Up With The Tiger Cubs in 2017
Novus
Research
6 Pages
Novus examines how Tiger Cub hedge funds navigated a difficult 2017 environment shaped by weak stock dispersion and pressure on fundamental investing.
Investor Interviews
October 2017
Catching Up With The Tiger Cubs in 2017
Novus
Article
1 Pages
Novus examines how Tiger Cub hedge funds navigated a difficult environment for stock pickers in 2017, arguing weak performance reflected market structure more than fading skill.
Miscellaneous
September 2017
Why Selling a Big Position of Puts the Day Before the Crash of ‘87 was a Great Trade
O’Shaughnessy Asset Management
Research
2 Pages
Jim O’Shaughnessy reflects on how selling his put position hours before the 1987 crash reshaped his investing philosophy.
Portfolio Management
June 2017
Historical Returns of the Market Portfolio
Robeco
Research
51 Pages
This paper reconstructs the global market portfolio from 1960 through 2015, tracking returns across equities, real estate, and bonds to examine how the average investor actually performed.
Financial History
June 2017
The Rate of Return on Everything, 1870 to 2015
Research
83 Pages
The authors examine 150 years of returns across housing, equities, bonds, and bills, arguing that housing has historically matched equities while delivering lower volatility.
Miscellaneous
April 2017
LTCM Brochure
LTCM
Research
12 Pages
Long-Term Capital Management’s white paper explains how leveraged fixed income arbitrage unraveled during the 1998 Russian debt crisis, exposing hidden liquidity risks across global markets.
Annual Report
February 2017
Global Investment Returns Yearbook 2017: Slide Deck
Credit Suisse
Research
40 Pages
Credit Suisse explores how 117 years of market history can frame expectations for equities, bonds, inflation, and factor investing.
Financial History
October 2016
Two Centuries of Price-Return Momentum
Financial Analysts Journal
Research
25 Pages
Financial Analysts Journal examines whether momentum investing persisted across 212 years of US market history using newly assembled stock data from 1801 onward.
Financial History
October 2016
Echoes of 1999: The Tech Bubble and the “Asian Flu”
Research Affiliates
Research
6 Pages
Research Affiliates compares today’s market backdrop to the late 1990s, arguing collapsing inflation expectations, expensive U.S.
Miscellaneous
August 2016
2016 : What Do You Consider the Most Interesting Recent [Scientific] News? What Makes it Important?
Edge
Article
1 Pages
Edge.org gathers perspectives from nearly 200 scientists and thinkers on the most important scientific developments, spanning AI, genetics, psychology, and cosmology.
Miscellaneous
August 2016
Thirty Years: Reflections on the Ten Attributes of Great Investors
Credit Suisse
Research
21 Pages
Credit Suisse reflects on the traits separating great investors from average ones, arguing that psychology, probabilistic thinking, and portfolio construction matter as much as valuation skill.
Annual Report
February 2016
Credit Suisse Global Investment Returns Yearbook 2016
Credit Suisse
Research
72 Pages
Credit Suisse examines how rising interest rates have historically influenced stocks, bonds, and investor behavior across 21 countries since 1900.
Financial History
January 2016
The Enduring Effect of Time-Series Momentum on Stock Returns Over Nearly 100-Years
Research
53 Pages
The authors examine whether time-series momentum in stocks has persisted across nearly 100 years, challenging efficient market assumptions.
Investor Letters
January 2016
2016 Thought Leader Forum
Credit Suisse
Research
71 Pages
Credit Suisse explores how flawed assumptions, incentive structures, and behavioral biases distort decision making across investing, technology, and machine learning.
Global Macroeconomics
January 2016
What Does the Market Know?
Oaktree
Research
9 Pages
Oaktree Capital explores whether investors should treat market price movements as informed signals or emotional reactions.
Global Macroeconomics
January 2016
On the Couch
Oaktree
Research
16 Pages
Oaktree Capital Management examines how investor psychology, rather than changing fundamentals, often drives market behavior and pricing.
Investor Interviews
December 2015
Top 10 Interviews
The Manual of Ideas
Research
87 Pages
The Manual of Ideas compiles interviews with ten respected value investors, exploring how they source ideas, manage risk, and think through market cycles.
Decision Making
June 2015
Risk Revisited Again
Oaktree
Research
21 Pages
Oaktree explains why investment risk cannot be reduced to volatility or a single number. Instead, risk reflects uncertain future outcomes, making judgment more valuable than prediction.
Portfolio Management
April 2015
Why do Family-Controlled Public Companies Outperform? The Value of Disciplined Governance
UBS
Research
44 Pages
This paper examines why family controlled public companies have historically outperformed peers, arguing that disciplined governance and long term ownership may create advantages markets do not fully recognize.
Investor Letters
March 2015
Charlie Munger Daily Journal 2015 Meeting [FULL NOTES]
Article
1 Pages
Daily Journal’s 2015 meeting notes capture Charlie Munger’s views on technological disruption, capital allocation, and investor behavior during a period of structural change.
Miscellaneous
March 2015
Investor Presentation
Third Point Reinsurance
Research
30 Pages
Third Point Reinsurance explains its total return reinsurance model, which combines opportunistic underwriting with hedge fund style investing managed by Third Point LLC.
Miscellaneous
February 2015
Fourth Quarter 2014 Investor Letter
Third Point Reinsurance
Research
8 Pages
Third Point reflects on navigating volatility in 2014 and outlines its positioning for a turbulent 2015.
Markets
February 2015
Credit Suisse Global Investment Returns Yearbook 2015
Credit Suisse
Research
68 Pages
Credit Suisse examines how shifting industry leadership, responsible investing, and equity discount rates have shaped long run returns across 115 years and 26 markets.
Miscellaneous
January 2015
Speech at Lost Tree Club
Research
48 Pages
Stanley Druckenmiller reflects on the principles behind his investing record, emphasizing concentrated conviction, risk management, and independent thinking.
Markets
May 2014
Changing Times, Changing Values: A Historical Analysis of Sectors within the US Stock Market 1872-2013
Research
76 Pages
This paper examines how passive investing’s explosive growth may be distorting market structure, weakening price discovery, and increasing concentration risk across equities.
Miscellaneous
April 2014
Omega Update
Omega Advisors
Research
34 Pages
Omega Advisors examines early 2014 market volatility, arguing investor positioning and complacency mattered more than macro headlines.
Portfolio Management
April 2014
Dare to Be Great II
Oaktree
Research
10 Pages
Oaktree Capital explains why consistently outperforming requires investors to think and act differently from the crowd.
Miscellaneous
March 2014
“Hidden In Plain Sight” Thoughts and Takeaways from the 2014 Wine Country Conference
FPA
Research
8 Pages
FPA examines how ultra loose monetary policy and historically expensive markets are distorting investor behavior, leaving few attractive opportunities despite strong equity performance.
Miscellaneous
January 2014
Getting Lucky
Oaktree
Research
13 Pages
Oaktree explores how luck, skill, and timing interact to shape investment outcomes and long term success.
Miscellaneous
May 2013
The Eclectica Fund
Eclectica Asset Management
Research
2 Pages
Eclectica Asset Management examines why defensive equities, a stronger US dollar, Japanese stocks, and short duration sovereign bonds could benefit from diverging global economic conditions.
Miscellaneous
March 2013
Would the real Peter and Paul please stand up?
Edelweiss Holdings
Research
8 Pages
Edelweiss examines how aggressive monetary policy can reshape wealth distribution, weaken trust, and create unintended social consequences beyond inflation alone.
Miscellaneous
February 2013
Is the Great Rotation Starting?
Sizemore Capital
Research
8 Pages
Sizemore Capital Management examines whether the long anticipated shift from bonds into stocks has truly begun, arguing dividend paying equities remain more attractive than low yielding bonds.
Miscellaneous
October 2012
The Best of Charlie Munger: 1994-2011
Research
349 Pages
Charlie Munger’s collected speeches and Wesco meeting notes explore investing through psychology, mental models, and multidisciplinary thinking.
Financial History
March 2012
Déjà Vu All Over Again
Oaktree
Research
11 Pages
Oaktree Capital explains why investors should study history instead of assuming recent market trends will continue indefinitely.
Miscellaneous
January 2012
Reading About the Financial Crisis: A 21-Book Review
Research
41 Pages
This paper reviews 21 books on the financial crisis to show how dramatically credible observers can disagree about the same events.
Miscellaneous
September 2011
The Lessons of History – Endowment and Foundation Investing Today
Research
15 Pages
This paper examines what 15 years of endowment investing can teach about portfolio construction, risk, and future returns.
Real Assets
December 2010
All That Glitters
Oaktree
Research
12 Pages
Oaktree Capital examines the investment case for gold by weighing its strengths as a store of value against the challenges of valuing an asset without cash flows.
Miscellaneous
December 2008
Volatility + Leverage = Dynamite
Oaktree
Research
13 Pages
Oaktree examines how excessive leverage combined with misunderstood risk turned a housing downturn into a financial crisis.
Markets
October 2008
The Limits to Negativism
Oaktree
Research
10 Pages
Oaktree examines how extreme investor pessimism can create opportunity by separating probable outcomes from emotional narratives during financial crises.
Financial History
September 2007
Now It’s All Bad?
Oaktree
Research
15 Pages
Oaktree examines how excessive leverage, easy liquidity, and shifting investor psychology turned a contained subprime mortgage problem into a broader credit crisis.
Miscellaneous
July 2007
It’s All Good… Really?
Oaktree
Research
10 Pages
Oaktree Capital Management explains how small financial shocks can spread through markets when leverage, psychology, and interconnected risks amplify their effects.
Miscellaneous
July 2007
It’s All Good
Oaktree
Research
14 Pages
Oaktree Capital Management examines how market cycles, investor psychology, and abundant credit can create dangerous periods of excessive optimism.
Miscellaneous
February 2007
The Race to the Bottom
Oaktree
Research
10 Pages
Oaktree Capital Management examines how abundant liquidity and intense competition can push investors and lenders toward weaker underwriting standards and greater risk.
Portfolio Management
September 2006
Dare to Be Great
Oaktree
Research
14 Pages
Oaktree Capital explains why consistently outperforming requires more than simply avoiding mistakes.
Economics
May 2004
Us and Them
Oaktree
Research
9 Pages
Oaktree Capital Management explores the fundamental differences between investors who believe they can forecast markets and those who embrace uncertainty.
Active Management
September 2003
What’s Your Game Plan?
Oaktree
Research
8 Pages
Oaktree explains why long term investment success depends more on avoiding major mistakes than chasing spectacular wins.
Decision Making
March 2002
The Realist’s Creed
Oaktree
Research
12 Pages
Oaktree Capital Management explains why successful investing depends less on forecasting and more on managing uncertainty with discipline.
Miscellaneous
November 2001
You Can’t Predict. You Can Prepare.
Oaktree
Research
12 Pages
Oaktree explains why successful investing depends less on predicting the future and more on understanding cycles.
Portfolio Management
October 1990
The Route to Performance
Oaktree
Research
3 Pages
Oaktree Capital Management examines how superior long term investment performance comes from avoiding major mistakes rather than making heroic bets.