Insights

 
 

Insights

 
 

White Papers

A New Investment Frontier: An Introduction to Private Lending

A New Investment Frontier: An Introduction to Private Lending

Institutional and private investors are increasingly considering direct lending for their investment portfolios. This new investment frontier offers opportunities but also reason to move deliberately. This paper will discuss this new asset class, offering thoughts on the opportunity set as well as a primer on its underlying characteristics.

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Diversification

Diversification

In a period of ever rising equity markets, the emotional appeal to concentrate one’s portfolio in what has worked lately is strong. This often proves to be a poor long-term investment decision, as discussed in this thought piece.

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Executive Compensation: Design and Planning

Executive Compensation: Design and Planning

For an organization, compensation is best structured to reward employees for their efforts. For the executive team though, organizations should focus on alignment of its compensation plans with the performance of the organization and its executives, individually.

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Economic Commentary

2018 Mid-Year Economic Review and Outlook

2018 Mid-Year Economic Review and Outlook

We typically distribute this report at the time of the quarterly GDP release, but the delay worked to our advantage. In addition to reporting the fastest quarterly economic growth in four years, the Bureau of Economic Analysis revised several years of recent economic data and “found” $3 trillion of previously unreported income. The revision is a game-changer as it relates to perspectives on the status of the consumer, which is a critical input to future GDP growth.

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2018 Q1 Economic Review and Outlook

2018 Q1 Economic Review and Outlook

In the fourth quarter, the economy expanded by 2.6% bringing real, annualized GDP growth to 2.3% in 2017. In many ways, 2017 was a prototypical post-Financial Crisis year with regards to economic growth. A weak first quarter gave way to stronger growth in the back half of the year, resulting in a good, but not a great year for the economy.

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2017 Mid-Year Economic Review and Outlook

2017 Mid-Year Economic Review and Outlook

The economy expanded at a real, annualized rate of 2.6% in the second quarter, while first quarter growth was revised down to 1.2% (vs. the previous estimate of 1.4%). The expansion was in line with analyst expectations from the beginning of the quarter and consistent with the post-Financial Crisis pattern of weak first quarters followed by stronger growth in the second quarter.

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Latest Blog Posts

Covenant Weekly Market Synopsis for February 18, 2019

February 18, 2019

Last Week Today. January’s inflation data indicated that widespread pricing pressure continues to be a non-issue, supporting the Fed’s decision to lay down their interest-rate-hiking guns. | Retail sales fell...

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Covenant Weekly Market Synopsis for February 8, 2019

February 11, 2019

Last Week Today. Senators Bernie Sanders and Charles Schumer announced a plan to introduce a bill limiting corporate stock buybacks. This bill suggests that the government knows better than management...

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Covenant Weekly Market Synopsis for February 1, 2019

February 4, 2019

Weekly Synopsis NotesLast Week Today. The Government got back to work. Financial markets did not reward the re-opening, implying that investors (conditioned by past government closures) did not pay much...

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