Institutional portfolios struggled in 2022 as hawkish central banks raised rates, leading to declines in equity, fixed income and REITs. Even illiquid assets like private equity/venture capital, and private credit have struggled. A new opportunity has arisen for institutional investors as the...

Investment organizations are complex to understand because decisions are the aggregation of multiple individuals who influence the process. This applies to organizations that apply both quantitative and qualitative investment approaches because the first step in a quantitative approach is still...

Using case studies of two investment companies, this paper highlights that organizations may have “investment tribes,” i.e., groups of individuals who appear to exhibit similar risk tendencies for gambles involving gains or losses, possibly with a wide spread of risk preferences. Tribes and...