Other Alternative Investments - Articles & White Papers
Articles and research on other alternative asset classes (those outside of mainstream alternatives). Some alternatives within this section are insurance-related, so there are a number of white papers on catastrophe bonds, reports on reinsurance securities, and securities backed by life settlements (secondary market for life insurance policies). Is volatility an asset class? This is debatable, but we have included in this section papers on volatility as an asset class or "opportunity class", including the use of short volatility to... enhance portfolio returns. Master Limited Partnerships are another, relatively new alternative asset, and our listing includes white papers on MLPs, which provide relatively high income with stable cash flows. Other exotic alternatives include institutional investment in wine and institutional investment in art, with one paper examining the characteristics of art funds and their typical investments, while another examines the history of bubbles in the art market. PwC author a report on alternative investment asset classes which considers oil and gas MLPs and insurance flavored products, among others.
This document outlines Libra's plans for a new decentralized blockchain, a low-volatility cryptocurrency, and a smart contract platform that together aim to create a new opportunity for responsible financial services innovation.
This detailed paper (70 pages) takes a deep dive into the world of cryptocurrencies. It examines the roots of crypto, the case for institutional crypto-investors, market sentiment, crypto mining, and much more.
The FCA has carried out work on cryptoassets, both as part of a broader UK Cryptoasset Taskforce and independently to achieve our objectives. This policy statement is the next step in the FCA’s work on cryptoassets and sets out details on where different types of cryptoassets might fall in the regulatory perimeter.
Calibra will be launching a digital currency network called Libra, which will have a digital currency called GlobalCoin. For us, despite the hype being made of it, this is a moment to ask not ‘what, but why?’ And ‘Why now?’. I’d like to share a few key insights on why we think Facebook is going down this route, and to…
Policymaking circles are debating the pros and cons of making central bank digital currencies (CBDCs) available to the general public. While they debate the issues at stake, central bankers need to understand that maintaining the status quo is unlikely to be a practicable option.
Libra is only a white paper, but even the leader of the free world has tweeted about Facebook’s proposed digital currency (apparently he’s not a fan). To bring a bit more clarity into this opaque topic, here’s a quick overview of what you need to know about Libra.
The Top 50 Blockchain Companies in Crypto Valley doubled their valuations in the first six months of 2019 from US$ 20 billion to US$ 40 billion. The ecosystem now includes more than 800 companies active in Cryptocurrency and Blockchain and over 4,000 professionals. Six unicorns - companies valued at more than US$ 1 billion…
A weekly podcast from Meb Faber where the focus is on helping you grow and preserve your wealth. Each week Meb discusses the craft of investing, helping listeners uncover new and profitable ideas in the global equity, bond, and real asset markets. Listeners can also expect to hear from some of the top investment…
Exposure to companies with ties to the cannabis industry raises challenges for investors. Some have sought to keep their portfolios cannabis-free while others have focused on long-term risks and opportunities. How can investors approach this challenge?
If behavioral biases explain asset pricing anomalies, they should also materialize in cryptocurrency markets. I test more than 20 stock return anomalies based on daily cryptocurrency data, and document strong evidence of price momentum. Controlling for market and size, price momentum remains statistically significant,…
Active equity analysts at Mellon Capital explore what cannabis-related investment opportunities could benefit most from an easing regulatory environment.
We find that three factors – cryptocurrency market, size, and momentum – capture the cross-sectional expected cryptocurrency returns. We consider a comprehensive list of price- and market-related factors in the stock market, and construct their cryptocurrency counterparts. Nine cryptocurrency factors form successful long-…
As tech giants rush into digital currencies and payments, it’s not just consumers who will need to be careful; the likes of Facebook and Apple will have to invest heavily in cybersecurity to guard against the next Stuxnet or WannaCry.
In this work we examine the largest 100 cryptocurrency returns ranging from 2015 to early 2018. We concentrate our analysis on daily returns and find several interesting stylized facts. First, principal components analysis reveals a complex daily return generating process. As we examine data in the most recent year, we find…
This paper builds a model with imperfect competition in the banking sector. In the model, banks issue deposits and make loans, and deposits can be used as payment instruments by households. We use the model to assess the general equilibrium effects of introducing a central bank digital currency (CBDC). We identify a new…
US climate resilience is a complex mix of inter-agency coordination, national disaster insurance programs, building codes and support for scientific research. Which makes it incredibly vulnerable to the policy agenda of each administration. Learn how US climate policy responses are undermining critical infrastructure and…
On 18 June, Facebook announced plans to issue its own currency. By giving every individual with a smart phone the ability to purchase tokens in their own domestic currency, Libra would improve the efficiency of payments, reduce costs, and expand financial access—or so Facebook argues. This column, part of a VoxEU debate on…
