Insights

BLOG


MAY 2019

Quiz: How Impactful is Compounding in Your Portfolio?

With markets already retracing their steep losses in 4Q18, the market noise and daily chatter can pose a challenge to long-term investment decisions. Erick Rawlings, managing director, research, presents a strategy-based scenario illustrating the power of compounded investments.

APRIL 2019

ESG and Impact Investing: Q1 2019 News Highlights

Bill McCalpin, managing partner, impact investments, provides an overview of the latest news coming out of the impact investing industry. This quarter's roundup highlights new growth for ESG strategies, commissioned research on the state of diversity in the U.S. asset management industry, and the dreams and shortcomings of the Opportunity Zone investment program.

APRIL 2019

What to Watch: Interest Rates, Inflation, and Earnings

Doug Cohen, managing director, portfolio management, revisits his analysis of the likelihood of interest rate hikes in 2019 as posed in his “20 Questions” blog series. Also on his radar: inflation and earnings have reached key inflection points.
MORE

WHITE PAPERS


JANUARY 2018

Investing in Gender Equality

A practitioner’s perspective on gender lens investing and the construction of gender inclusive investment portfolios

JUNE 2017

Alice's Adventures in Volatility-land

Managing portfolios according to Modern Portfolio Theory directs us to find investment portfolios with the highest level of return for a given level of risk. In this paper we examine the nuances of volatility and risk measurement to better inform decision-making in investment portfolios.

APRIL 2017

Building Impact Portfolios

A framework to building diversified portfolios that balance the objectives of maximizing risk-adjusted financial return and generating social and environmental impact.
MORE

MARKET INSIGHTS & ANALYSIS


APRIL 2019

Market Update - 1Q19

In many ways the market driving events and resulting price action in Q1 2019 were mirror opposites of Q4 2018 events and price action. Jerome Powell, chairman of the Federal Reserve, noted in Q418 that the Fed was a “long-way” from its neutral interest rate. He reversed course early in Q119 noting that the Fed was indeed quite close to its neutral rate.

JANUARY 2019

Market Update - 4Q18

For US markets in 2018, it was seemingly the best of times and the worst of times. The S&P 500 began the year at the highest price-earnings multiple since the financial crisis, but ended 2018 slightly below the ten-year average. In bonds, the US ten-year Treasury yield climbed to its highest level since mid-2011, only to end the year about back where it started. And in credit markets, spreads hit post-financial crisis tights, only to end the year at elevated levels last seen in 2016.

NOVEMBER 2018

Interim Market Update - 4Q18

Notable themes thus far in 4Q18 include: the October-November equity selloff, global growth concerns, another quarter of strong earnings, an oil price bear market, rising concerns over corporate debt levels, and higher yields on high yield bond.
MORE

LANDSCAPE REVIEWS


JULY 2018

Financial Inclusion in Emerging and Frontier Markets

Financial inclusion is, today, one of the most popular investment themes among impact investors, in part because it has a long track record dating back to the emergence of the modern microfinance movement in the 1970s. Over the past 10 years, the field has shifted away from an emphasis on microcredit and towards the broader notion of financial inclusion. Athena Capital's landscape review examines the role for private capital within financial inclusion, the potential for meaningful social impact from investment activity, and the available investment strategies.

APRIL 2018

Evaluating Potential China Trade Tariffs

The escalating trade rhetoric between the US and China has recently garnered headlines as the countries have announced or enacted tariffs. We believe these actions mark a shift in the trade relationship between the US and China—from one of tolerance to one of engagement.

JANUARY 2018

Introduction to Blockchain and Cryptocurrency

Cryptocurrencies such as Bitcoin have garnered significant attention due to their astronomical 2017 returns and the lack of consensus on their true value among prominent market strategists. While Athena Capital classifies cryptocurrencies as speculative assets with a high degree of volatility, we continue to evaluate this evolving market and the implications of its underlying technology, blockchain.
MORE