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SEPTEMBER 2018

Five Debates That Will Likely Drive Markets Through Year-End

It has been 55 years since Nat King Cole’s “Those Lazy-Hazy-Crazy Days of Summer” topped the charts. With the days of this summer winding down (having surely delivered on at least the last of Cole’s three adjectives), here are the five key questions that are likely to drive markets over the final third of the year.

AUGUST 2018

Seismic Shifts in our Social Culture – Part II: Synopsis from the Aspen Ideas Festival

Doug Cohen, managing director of portfolio management, concludes his series from the Aspen Ideas Festival with Part II of the key takeaways from the sessions that examined seismic shifts in our social culture.

AUGUST 2018

Seismic Shifts in our Social Culture – Part I: Synopsis from the Aspen Ideas Festival

In his latest installment of observations from the 2018 Aspen Ideas Festival, Doug Cohen, managing director of portfolio management, summarizes the sessions he attended on climate change and disruptive technologies.
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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.
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MARKET INSIGHTS & ANALYSIS


AUGUST 2018

Interim Market Update – 3Q18

Athena Capital’s Research team dissects the notable themes driving markets thus far in the third quarter of 2018, including strong US economic growth, continued tailwinds from fiscal stimulus, a flat yield curve, ongoing concerns over a US-China trade war, and weakness across emerging markets.

JULY 2018

Market Overview - 2Q18

Our base case scenarios still forecast modest positive future returns; however, our sense of caution and our focus on risk management are elevated given heightened geopolitical risk, unprecedented quantitative tightening, and fairly valued equities.

MAY 2018

Interim Market Update - 2Q18

Mid-way through the second quarter of 2018, the markets have experienced a robust earnings season, rising US interest rates, higher inflation, a stronger USD, oil at its highest level since 2014, and the resurgence of potential tail risk in select emerging markets and the European Union.
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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.
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