Featured Thinking

Featured Thinking

Featured Research

COUNTERCYCLICAL INVESTING: FOUNDATIONS OF A CYCLE-DRIVEN APPROACH TO ASSET ALLOCATION

Spring 2021
Daniel Rasmussen, Graham Infinger, Greg Obenshain, Denis O’Leary, Karl Schulz, and Igor Vasilachi

Verdad research studied the long history of US markets to attempt to identify how prevailing macro-economic conditions predicted and determined returns across different asset classes, and how investors can more dynamically position their portfolios to take the economic cycle into account.


EMERGING MARKETS CRISIS INVESTING

Winter 2021
Daniel Rasmussen, John Klinger, Georgi Koreli, Nick Schmitz, and Igor Vasilachi

Over the past 30 years, buy-and-hold investors in EM have endured high volatility for disappointing returns. Verdad research studied every emerging market crisis since 1987 to see if it could have been possible to reap excess returns by only investing in the two years immediately after a crisis, an approach we call “crisis investing.”


CRISIS INVESTING: HOW TO MAXIMIZE RETURNS DURING MARKET PANICS

Winter 2019
Daniel Rasmussen, Brian Chingono, Graham Infinger, Bryce McDonald, Greg Obenshain, and Chris Satterthwaite

Verdad research explores how different asset classes perform during times of economic turmoil and provides a blueprint for what investors can do to take advantage of these unique periods.


THE GOSPEL ACCORDING TO MICHAEL PORTER

November 8, 2017
Daniel Rasmussen
Institutional Investor

Verdad research performs a deep dive into the world-famous Porter’s Five Forces introduced in Michael Porter’s 1980 book Competitive Strategy, and endeavors to answer the question “do they really matter?”


PRIVATE EQUITY: OVERVALUED AND OVERRATED?

Spring 2018
Daniel Rasmussen
American Affairs Journal

Verdad research outlines the potential dangers present in today’s private equity market, and uses empirical analysis to dispel some of the myths often promulgated in private equity marketing materials.


THE MBA MYTH AND THE CULT OF THE CEO

February 27, 2019
Daniel Rasmussen and Haonan Li

Institutional Investor

Verdad research challenges the notion that CEO pay should be tied to stock performance, and seeks to uncover the implications that this broadly accepted model has had for companies and their shareholders.


HIGH-YIELD WAS OXY. PRIVATE CREDIT IS FENTANYL.

January 28, 2020
Daniel Rasmussen & Greg Obenshain
Institutional Investor

Verdad research dives into the booming private credit market, exploring the drivers of its recent growth and the risks it represents. We ask the question, are the banks and the regulators too conservative and too pessimistic to understand the opportunity in private lending, or will private credit funds experience a wave of high-profile defaults from overleveraged buyouts?