Event Handout (Behavioral Finance: An Overview)

As part of the Boston Foundation's Advisor Seminar Series, Randy Hustvedt, a Principal at Federal Street Advisors, co-lead a discussion about behavioral finance with Beth Milkovits the Director of Development at The Boston Foundation.

Event Handout (Investments 101 Training)

Event Handout (The New New Economy: Investing with a Climate Change Lens During Challenging Times)

This year’s conference, “The New New Economy: Investing with a Climate Change Lens During Challenging Times,” continued the discussion from 2007 to reflect the realities of all that has happened with the economy, politics and the planet in 2008.

Event Handout (Endowments for Climate Solutions)

Understanding Behavioral Finance When Advising Clients:

As avid students of this fascinating new field, we would argue that "Behavioral Finance" is really not finance at all. Rather, it is a healthy dose of psychology, a tad of sociology, and a pinch of economics. Call it what you like, it is the study of how social, cognitive, genetic and emotional factors influence the decisions we make every day.

Jack Be Nimble, Jack Be Quick, Jack Jumped Over the Candlestick

There's no doubt that a few high-profile, high-flying fund managers have earned hedge funds a bad rap in recent years.  But we at Federal Street Advisors believe that hedge funds play a healthy role in client portfolios.  In this white paper, experts from our Investment Consulting, Financial Planning and Research departments offer their perspectives on hedge fund investing.

Selecting an Investment Consultant

An increasing number of small- to mid-size foundations have turned to an investment consultant to help them manage their funds - a trend that accelerated with the credit crisis and historic market volatility of 2008. As the jarring events of that year showed, it can be beneficial for a foundation to have the support of an investment consulting firm.  However, finding the best-fit consultant for your foundation can be a daunting task. 

High Impact Philanthropy

Much has been written in recent years about a trend in philanthropy to seek greater impact and more measurable results. Most experts believe this trend is not only here to stay; it's transforming how donors (both individuals and foundations) approach their charitable giving.

In this white paper, we look at High Impact Philanthropy from a variety of perspectives. Our lead story is co-authored by one of our major philanthropic partners: The Boston Foundation.

Liquidity Needs for Foundations and Endowments

Institutional trustees have a dual investment responsibility - to provide for today's cash obligations while protecting (and enhancing) tomorrow's spending power.  Many boards have responded to the recent financial crisis (and the actions of aggressively invested institutions like Harvard University) by adopting investment strategies that ensure liquidity but compromise the portfolio's long-term growth potential.  This white paper takes a big-picture look at liquidity needs - and how they can be met with smart portfolio design that does not sacrifice the future.

Inflation Consternation

We've been asked by many of our clients about whether we are concerned about inflation and if so, what we are doing about it.  The purpose of this article is to discuss why it has become such a hot issue, discuss how we believe our clients are currently protected in the present environment, and how we may consider doing even more if the conditions warrant.

“Listening To You… We Get The Music”

Or, What Pete Townshend Teaches About Serving Clients

In the opening days of a client/advisor relationship, it is not easy to dive right into the highly personal, but we do, and we look to get below the surface quickly.  What we find there helps us better serve the client.  We want insights into clients hopes, and weve learned over the years that it is also essential to understand their fears. 

2008 Hedge Fund Year in Review

2008 will go down as an unforgettable year in the capital markets where almost all investments posted negative returns. In contrast to the last bear market ending in 2002, hedge funds were not immune to the downturn in 2008. 

Hedge Fund Benchmarking - Revisited

Benchmarking hedge fund returns continues to be a serious challenge for hedge fund investors.  Many of the commonly available index choices, such as peer group-based indices, are generally considered flawed, while others, such as multi-factor models, can be very difficult for the average investor to understand. 

Perspectives on Commodities Futures Investments

Emerging Markets Trends and Opportunities

Hedge Fund Benchmarking: Recommended Approaches

Realizing Value through Asset Allocation and Manager Selection

Hedge Funds: Sauce for The Goose…And The Gander?

In recent years, enormous endowments like those of Harvard and Yale, as well as many large foundations, have been devoting increasing portions of their investment portfolios to “hedge funds” and other alternative investments.

Misconceptions about Hedge Fund Returns, Bubbles and the Alpha Pool

The drumbeat of people calling for the demise of the hedge fund industry continues to pound with greater consistency and intensity.

A Good Fraud Is Hard To Find

I am a firm believer in the theory that it would be nearly impossible to identify a well-orchestrated fraudulent hedge fund scheme in time to prevent the fraud.

Are Hedge Funds Suitable for Individual Investors?

Hedge funds have long played a material role in the investment portfolios of ultra high net worth individuals in the United States.