This article shows that hedge fund performance is positively related to funds' exposure to
illiquid assets. Therefore, because older funds and funds with larger increases in assets under …

Because the 60–40 allocation is very simple to implement (subject to rebalancing rules)—and
because it has generated strong absolute and relative risk-adjusted returns over time (ie, it …

The Journal of Wealth Management (JWM) is the only peer-reviewed journal devoted
exclusively to original research and practical guidance for high-net-worth investors and family …

This article introduces a model for forecasting future volatility using fundamental factors,
including the extent to which the market’s valuation deviates from its predicted value, the losses …

… Mozes and Steffens identify the economic conditions that drove the 60/40 allocation’s
past success and then forecast future economic scenarios. Most significant to the future …

Although factor investing has become an industry standard, the debate over which factors
drive the risk and return of various asset classes across the globe is ongoing. The literature …

This article provides a model for predicting whether value stocks will outperform growth stocks
and whether value stocks’ outperformance will be positively or negatively correlated with …

The golden age of hedge funds may be over, according to Haim Mozes and John Launny
Steffens of Spring Mountain Capital. Mozes and Steffens offer a critical new insight into how …

… " Merrill Lynch executive vice president Launny Steffens wrote in an analysis with the report.
… to saving than their elders were," says Steffens. With Americans living longer, by the time the …

Recent outbreaks of emerging infectious diseases, such as Ebola virus disease (EVD), highlight
the urgent need to develop effective countermeasures, including prophylactic vaccines. …