EQIRA: Empirical and Quantitative Investment Research and Analysis

News Worth Reading: December 9, 2016

There’s always great information out there if you know where to look. The following comprises our list of news worth reading from the past week.

Hedge Funds

  • Systematic macro funds outperform discretionary macro funds both before and after risk adjusting (ssrn)
  • Almost all of the new money going to hedge funds is going to big funds (bloomberg)
  • Michigan State’s endowment is shifting $100 million to quant managers (finalternatives)
  • MassPRIM is looking to invest with smaller hedge fund managers (reuters)


  • Even great funds can have long periods of underperformance (syouth1)
  • A well-diversified investor will always own underperforming assets (awealthofcommonsense)
  • The Yale Model isn’t broken, you’re just doing it wrong (ai-cio)
  • An analysis of the long-term performance of three different dividend-based investment strategies (thinknewfound)
  • Small PE funds have performed just as well as large PE funds over the last 10 years (pitchbook)


  • Columbia has chosen a new CIO to replace Nirmal Narvekar (pionline)
  • Should more public pension funds operate like Nevada’s? (ariadnewa)


  • “Duration bias” has led to a significant overestimation of average bond fund performance (ssrn)

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