Investment Insights and Thought Leadership

Faith Musingarimi, Assistant Vice President at Bivium Capital

Sanctions on Russia stemming from its annexation of Crimea in March have evolved from initial restrictions on some high profile Russian individuals, to most recently, sanctions targeting key Russian industries as the Ukrainian crisis has continued to escalate.… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

Markets started the month of August modestly as Argentina’s default and the rescue of Portuguese bank Banco Espirito Santo raised investor anxiety.  Economic news was weak with the US unemployment rate edging up slightly and data disappointing… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

Thirty days of relative calm in the markets were punctuated by a sharp sell-off on the last day of the month. Economic data was generally positive with good manufacturing data coming out of the U.S. and China,… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

The quarter began with a brief retreat as sellers focused on the turmoil in Ukraine and concerns over market valuations. In the downdrafts, biotech and momentum stocks were particularly shunned. However, by the end of May, M&A… Read Full Post

High Frequency Trading: Meditations on the Controversy

Zenas Huang, Analyst at Bivium Capital
Joanna Horton, Global Trading Director at CAPIS

Ever since the genesis of algorithmic trading strategies in the late ’90s, advocated have preached the immense efficiency gains from HFT… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

While the first half of May continued the choppiness seen over the last several months, M&A sparked a rally in the latter part of the month with mega cap stocks leading the way to record index highs.… Read Full Post

Would Russia Risk its Golden Goose?

Eric P. Leve, CFA, EVP & CIO, Bailard Institutional

Each month we focus our research spotlight on thought leadership from one of the leading investment managers in our program. While the topical subject and… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

April marked the second consecutive month in which the markets struggled for direction. Buyers were buoyed by the Fed’s continuing accommodation and dovish tone regarding future interest-rate policy. Sellers focused on the turmoil in Ukraine and concerns… Read Full Post

The Fear Pendulum: From the End of the World to Market Melt-up

Jeffrey Bronchick, CIO, Cove Street Capital in Los Angeles

Each month we focus our research spotlight on thought leadership from one of the leading investment managers in our… Read Full Post

Kai W. Hong, CFA
Managing Director & Chief Investment Strategist

Following the dramatic run-up in most equity markets in 2013, the directionless nature of trading early on was to be expected. Macro weakness in China and some earnings disappointments triggered a sharp sell-off in the markets at the… Read Full Post