Archive | Uncategorized

RSS feed for this section

Balancing Risks

  Asset Allocation at Life Planning Communities can be a tricky exercise. Unlike a charitable foundation, the core mission of a life planning community involves running a business, with emphasis on financing, marketing, facility management and many other crucial functions. The enterprise risk that is at the core of most life planning communities is, in […]

Read full story Comments { 0 }

The Negative Side of Negative Interest Rates

                First Denmark, Sweden and Switzerland, then the European Central Bank, and just this year Japan have all introduced negative interest rates as a policy tool designed to 1)depreciate the home currency, 2)encourage lending, 3)stimulate inflation and 4)goose the economy. So far the results have not exactly been […]

Read full story Comments { 0 }
The Wizard of Oz

2 Kinds of Investment Policies

            Everyone “knows” that organizations that invest should have an investment policy. Why is this so important? As Yogi Berra says (and the CFA Institute’s primer for investment trustees relays), “If you don’t know where you’re going, you’re liable to end up somewhere else.” Faced with the potentially challenging task […]

Read full story Comments { 0 }

Volatility Spikes! Time to Get Active?

          Volatility in stock markets spiked last quarter and the S&P 500 had its worst quarterly performance since the 3rd quarter of 2011. Many investors call the VIX index the “fear index” as it reflects the relative degree of volatility in the S&P 500. For perspective the VIX has averaged 20.33 […]

Read full story Comments { 0 }

Sunrise Deal Sparks Interest in Senior Care Properties; Residential Real Estate Remains a Challenge

The recent takeover of Sunrise Senior Living, Inc has highlighted the relative value of senior living real estate, as described in “Housing for the Elderly Targeted after Record Premium” at  Indeed the stock prices of other senior living companies, such as Brookdale Senior Living, Emeritus and Capital Senior have all since seen healthy gains […]

Read full story Comments { 0 }

QE 3 Sets Sail…We’ll Get Back to You on the Return Date!

QE 3 Sets Sail…We’ll Get Back to You on the Return Date The Federal Reserve has embarked on its latest effort at juicing the economy, an effort referred to as QE 3, or quantitative easing (3rd try). Unlike previous efforts, the Fed has stated that it will continue its practice of buying longer dated mortgage […]

Read full story Comments { 0 }

New Fitch Report on Median Ratios for CCRCs

Fitch Ratings released its 2012 Median Ratios for Not-for-Profit  CCRCs, revealing that no communities in its rated portfolio were downgraded and that just one was upgraded. (Click on the link above to see the press release and information on accessing the conference call on September 20).6 of the 65 communities in the rated portfolio have […]

Read full story Comments { 0 }
Wired Advisor

Investment Outsourcing Continues to Draw Interest in the Non Profit World

A recent article in Institutional Investor magazine highlighted the growing interest in investment outsourcing among college and university endowments. For a variety of reasons, these institutions decided to scrap their “in house” investment management operations and turn to an independent outsource to run the investment process, from soup to nuts. While investment policy and broad […]

Read full story Comments { 0 }
Eggs in One Basket

Long Term Strategic Asset Allocation: Is it all that matters . . . or is there more?

Virtually all investment advice begins with the warning: “Don’t put all your eggs in one basket” and quickly moves on to extolling the virtues of asset allocation. Much of this advice is centered around a widespread belief among brokers, financial advisors and clients that asset allocation is overwhelmingly the most important piece of the investment process. We agree that […]

Read full story Comments { 0 }

Who is Managing Your Investment Process?

While the ultimate fiduciary responsibility lies with the Board of Directors, most organizations seek professional help to manage the investment process. There are a number of different approaches to the mechanics of investing, most of which are blurred by the many different actors and the confusing array of role titles, platforms and regulators. We begin […]

Read full story Comments { 0 }