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A Matter of Time

Harris Associates
May 19th, 2014
A Matter of Time

Author: Edward S. Loeb, CFA, Partner and Portfolio Manager

Three months ago equity investors may have wiped the perspiration from their brows, basking in the heat of 2013’s 32% gain in the S&P 500. But after experiencing Mother Nature’s unusually brutal winter, performance so far in 2014 matched the quarter’s thermometer reading, frozen.


Harris Associates L.P. was founded in 1976 by dedicated investment professionals who believed that delivering successful investment results for clients requires a consistent investment philosophy, a commitment to superior investment research, and a high level of customer service. With a growing roster of clients, their basic beliefs remain ... more

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Broad Asset Class Diversification

Brinker ... more

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Webinar Playback: New Client Reporting Study Release & Not All External CIOs Are The Same

Webinar hosted on Wednesday, April 16, 2014

Please join The Family Wealth Alliance as we host Leo J. Dolan, Jr. (Brinker Capital) for a closer look at external CIO firms and why a broad, unique range of Investment and Non-Investment Options is making a difference! We will also be discussing the findings of our most recent Alliance Research, released in early April.

Click here to watch the ... more

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Why High-Yield Municipal Bonds May Be Attractive in Today's Market Environment

Why High-Yield Municipal Bonds May Be Attractive in Today's Market Environment

MacKay ... more

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The Value of Traditional Banks in the Modern World

TriState Capital Bank
March 13th, 2014


There’s no doubt that Family Offices and Financial Advisors reach out to conventional banks and consider them a vital resource.

That said, the banking industry is dynamic, and time-honored banks continue to make the case that their banking models resonate now with customers – and will resonate five, 10 and 20 years from now.

Making that case is all about value propositions, and that’s the focus of this white paper, entitled The Value of Traditional Banks In the Modern World, from TriState Capital.

In it, TriState Capital makes the case for classic banking models, and how they will continue to ... more

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Credit Management for High-Net-Worth Individuals

Rothstein Kass
March 13, 2014


If you have cash, why do you need credit? It’s a common question we often get asked by our clients and other advisors who work with high-net-worth individuals.

Many wealthy people believe their credit must be in good shape since they have a lot of money. Surprisingly, this couldn’t be further from the truth. The fact is, it’s absolutely necessary for high-net-worth individuals to protect and manage their credit and not make assumptions about their credit rating.

You may think you don’t have to worry about your credit score because you have a high income and money in the bank. The truth is, however, that ... more

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Market Insights for 2014: The Year of After-Tax Returns

MacKay Shields
February 17th, 2014

Market Insights for 2014: The Year of After-Tax Returns

1. Municipal Market Supply and Demand Technical Features Provide Relative Price Support in 2014;

2. Local General Obligations Bonds Outperform;

3. The Municipal Market Refocuses on Monoline Insurance in Secondary Trading;

4. Lower Investment Grade & High Yield Municipal Credits Will Outperform;

5. Broker/Dealer Reduction in Capital Commitment to Municipal Bonds Will Continue to Reduce Market Liquidity.

Click here for ... more

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China - Separating Fact from Fiction

Matthews Asia
February 14th, 2014

China’s economy is slowing. More importantly, it is undertaking a rapid and strategic evolution from a model based on high levels of credit and investment to one based more on consumer spending and high-value services. As China watchers and global investors parse their data and monitor the news, this might be an opportune time to address some prominent themes and adjust a few misconceptions.

China’s growth has a profound impact on Asia and a significant effect on developed and emerging markets around the world. The economic slowdown that is underway is entirely appropriate as the world economy emerges ... more

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Webinar Playback: Investment Outlook for 2014 & Latest Trends in Banking

Together with our Alliance Partner Firms, TriState Capital and Rockefeller & Co., we would like to invite you to participate in our Alliance Webinar.

Chuck Fawcett (TriState Capital) will be discussing trends and updates in banking, and John O'Hara (Rockefeller & Co.) will discuss investment outlooks for 2014.

Click here to ... more

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Next Gen and Social Media: What are the Implications for Families and Family Offices? (Webinar)

Join The Family Wealth Alliance as we partner with HUB International for the premier installment of the 2013 Webinar Series, Continued Conversations.
Title: Next Gen and Social Media: What are the Implications for Families and Family Offices?
Date: Wednesday, April 24, 2013
Time: 2:00 PM EST, 1:00 PM CST

Register ... more

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Alliance Research - 2013 Partner Summit

A presentation of The Alliance's findings unveiled at the 2013 Partner Summit in Florida.

Click here for the .pdf ... more

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Adding Value to Family Investment Portfolios

When family investors think about adding value to their portfolios, they tend to think of finding a manager who will deliver exceptional outperformance.  But over time, managers as a group will subtract value from portfolios due to their fees and trading costs.

Fortunately, there are ways families can reliably add value.  Let's look at a few of the more important of these ... more

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Just How Bad are the Underlying Problems?
Mike Schneck, Altair Management Partners

Following the stock market’s 100%+ rise from its lows in March 2009, hedging portfolios has carried a relative cost that has caught the attention of many investors.  The reaction to this cost can be seen in the hedge fund flow of capital data provided by Evestment Alliance.  For the trailing 12-months ended April 30, the hedge fund industry has experienced nearly $8 billion in net investor outflows.  Nearly 25% of that came from long/short equity funds.  April 2012 was the second consecutive month that saw net outflows across the hedge fund industry as a whole.

At Altair Management Partners, we are ... more

Featured Articles
Provider Relevance in the Ultra High Net Worth Market
The challenges of relevance in a cluttered industry
Loraine B. Tsavaris, Managing Director, Rockefeller Financial

Ultra High Net Worth (UHNW) families, individuals and their family offices are sophisticated, smart and complex, and have access to the finest intellectual capital and choice of solutions available. Providers of all disciplines are more than willing to serve these clients and strive to get their message out to this client segment to let them know why they are the appropriate solution for them.  So why is this market so challenging for both clients and providers?

Truth and Illusion

The challenge is very simple: the ability to offer families and individuals of extraordinary wealth what they want.  The execution of this is ... more

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