When considering GSA’s strategic direction, we should first build an understanding of its relative position within the private equity market. GSA’s current value proposition to its clients is: 1) Greater accessibility to private equity firms through GSA’s customized services, allowing less sophisticated clients to progress from a passive fund-of-funds investor into a direct private equity investor, removing the intermediation between the GP and the client; 2) A strategy of “vintage-year diversification”, whereby GSA contributes to funds over a number of different years in order to gain access to many different types of funds; and 3) A compensation structure that is weighted towards carried interest at the expense of fees, ensuring an alignment of interests between GSA and its clients. These strategies have helped the fund retain large and important
The Yale Endowment is known in the financial industry as a pioneer in using a combination of innovative asset allocation and active management to produce impressive long-term performance. In fact, the Endowment produced a 17.8% average annual return, net of fees, in the ten-year period ending June 30, 2007.1 This performance is particularly impressive given that, in recent years, the Endowment portfolio has carried less than a 40% weighting in equities. Instead, under the leadership of Chief Investment Officer Dave Swensen, the Yale Investments Office
4(a) Harvard’s Policy Portfolio is a portfolio within a group of asset classes including different instruments. It can be used as a benchmark to evaluate the performance of investment strategies.
J.P. Morgan Chase & Co. Is a conglomerate company with a very specific purpose. According to their website, the mission and values of J.P. Morgan Chase is "To be the most profitable, respected and influential investment bank in the world for the long term." To adequately quantify a company's mission or its vision, the firm must first determine, at the strategic level, what its core principles are. J.P. Morgan Chase is a firm with very specific business principles that they believe are at the very core of achieving their mission. Many of these basic principles include: Aspire to be the best, Execute superbly, Build a great team and a winning culture. (J.P. Morgan business goals).
I strongly advocate tactical asset allocation process and diversification over several different income and growth strategies. I believe that risk management and protection of investor's endowment are major objectives. In my portfolio, stocks may occupy a large portion and the
The Gross Domestic Product (GDP) is a calculation that provides insight into the current economy of our nation to allow individuals to understand the current and past year’s standings in the economy. The calculation of the GDP allows for the government to determine what adjustments are necessary to manage an effective status for the economy. Based upon the GDP the government can forecast any necessary changes that must be made to either the monetary policy or the fiscal policy. The wealth of a country is based upon the government’s ability to manage the economy through the monetary system and not on the amount of money that is located within that economy. The calculations for the GDP are produced to provide the most
This case explores the problems managers face when assembling a team. David Fletcher, is an overworked portfolio manager of the Emerging Growth Fund at Jenkins, Fletcher Partners (JFP), an investment management firm in New York. As an individual, his superior performance throughout his career has earned him an outstanding reputation. Starting out as a clerk, he rose through the ranks of Wall Street to eventually manage the two most aggressive mutual funds at a major investment firm. Success at this firm only added to his reputation and lead to his current role at JFP, a smaller firm with an informal culture. At JFP, Fletcher is challenged with the new responsibility of managing a team, in addition to managing his portfolio.
1. Adams espouses a “market first” analysis of opportunity by looking for discontinuities. Is this substantive or window-dressing? Do the four types of discontinuities represent applicable guidelines? Are they comprehensive, or are there other discontinuity templates that a venture investor would find useful?
"Management Time: Who 's got the Monkey" has been the second most popular management article ever published by the Harvard Business Review ("Management Time: Who 's got the Monkey", by William Oncken and Donald Wass, first published by Harvard Business Review, 1974) and has been reprinted several times. Thirty odd years later, the message Oncken and Wass sent us on management, still holds true today.
Discuss Buffett’s analysis of the junk bond failures of the 1980s.What is Buffett’s view of the role to be played by investment bankers?
This case study is about a student Monroe davies who is in his second year at Harvard Business school and Jim Hummer who is the CEO of a company named Whole Health Management. Jim has met Monroe before and knows that Monore is interested in entering the whole health management.
Blunt thought that NYL had a chance to sell a very large volume of immediate annuities through the roughly 500,000 independent and company-based investment advisors in the United States who helped people manage their retirement assets. To do this, he wanted to make a multimillion-dollar investment in people and resources to try to convince these investment advisors to sell NYL’s immediate annuities.
This time is different: Eight Centuries of Financial Folly, written by Carmen M. Reinhart and Kenneth S. Rogoff, was published just before Greece went into crisis. Just as they satiric title illustrated, so most people believe that Greece will never default again because “this time is different due to the wealthy ally within the EU”, but the Greece crisis came out immediately and strongly prove Reinhart & Rogoff’s statement “this time usually isn’t different and catastrophe eventually strikes again”.(journal1) This book is designed to cater to the desires of many governments that are enthusiastic about austerity and becomes the most influential economic analysis book around recent years.(paul letter2) In this essay, I will give a brief view of Reinhart-Rogoff’s theory and explore some criticisms of R-R’s work, and then summarizes their defences against those criticisms.