In the not-too-distant past, stratification of multi-country asset classes focused on differences in country returns. Recent research has headlined the demise of country as the primary stratification cut in multi-country universes and the rise of sector returns in its place. Is this result...

In recent years, the number of firms offering hedge fund products, and assets allocated to hedge funds have grown at a rapid rate. This growth has been accompanied by a commensurate increase in the number of hedge fund research articles. A striking limitation of many analyses published to date...