Michael Stanat

Group CIO Dan Ivascyn explains why volatility is creating a target-rich environment in fixed income, and how to build a resilient portfolio that capitalizes on opportunities across public and private markets. Watch Now>

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CEO Michael Arougheti talks deployment numbers amid a slower M&A market, clarifying what he believes to be an industry-wide misperception. Hear his thoughts and more from his latest conversation on Bloomberg.

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I am pleased to recognize Professor Zhi Da's groundbreaking research on investor attention using Google search data, work that has been cited over 11,000 times. His 2011 paper, “In Search of Attention,” fundamentally changed how we understand retail investor behavior. Zhi actually began his academic career here at Notre Dame in 2006 after earning his Ph.D. in finance from Northwestern University. Now one of our leading researchers, his work explores trading innovations and behavioral patterns of various market participants, including the fractional trading that powered the GameStop trades. Fractional trading is seen as democratizing stock purchasing for retail investors, but Zhi’s research helps us understand the risks, which include the potential to fuel meme-stock-like trading frenzies and bubbles in even high-priced stocks. As fractional trading continues to expand, what safeguards should we consider to preserve its democratizing benefits while reducing systemic risks? The balance between accessibility and market stability remains an important area for ongoing attention.

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According to our recent CAIS-Mercer survey, 77% of advisors would consider model portfolios to streamline alts allocations. Our new technology tool features products available on the CAIS Marketplace and supports advisors’ alternative investing workflows, from order entry through reporting. Models Marketplace was designed from the ground up to redefine how independent financial advisors access alternative investment strategies. Seeking a more efficient, scalable solution to investing in alternatives? Explore manager-designed model portfolios: https://lnkd.in/egRCiDe9 #altsinvesting #modelportfolios #wealthmanagement

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Recently, Tower Research Capital CIO John Cogman spoke at Columbia University's Future of Portfolio Management & Artificial Intelligence Conference, hosted by the Columbia University Mathematics of Finance (MAFN) Master's program. John's opening fireside chat with Databento CEO and MIT Trustee Christina Qi focused on how AI and machine learning are empowering new entrants to compete with established proprietary trading firms and driving evolution across the trading landscape. He also shared career advice for students exploring quantitative trading, including how to evaluate opportunities at established firms versus start-ups. At Tower, we value the opportunity to share our vision and engage with the next generation of mathematicians and financial professionals. Read our blog for more details: https://lnkd.in/gsAYPhNk

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Investors have long debated the relative merits of active and passive investing. With an enhanced indexing strategy, could utilizing both approaches help manage risk in an uncertain market environment? Enhanced indexing seeks to marry the cost efficiency and transparency of passive investing with the dynamism and enhanced risk management of an active approach. For investors who consider enhanced indexing strategies, we believe this combination may serve as a portfolio building block and provide the potential for long-term returns. Hania Schmidt, CFA and Brendan McCarthy share our views on enhanced indexing in an ETF wrapper: http://ms.spr.ly/6044SrDvj

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Cliff Asness and Dan Villalon’s latest piece dives even deeper into buffer funds—this time published in the Journal of Portfolio Management. While there’s more data and more co-authors (Antti Ilmanen and Jeffrey Cao join) than their previous two posts on the topic, the verdict hasn’t changed: buffered funds haven’t delivered on their promise. It’s not a short paper, so here’s the TL;DR: Buffer funds are complex, costly, and have underperformed in both theory and practice—and there are simpler, less expensive alternatives that are more effective when dealing with the risk of equity markets: https://bit.ly/3J8gmWJ

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UIC faculty are redefining finance education by integrating cutting-edge tools like the Bloomberg Terminal into coursework. In FIN 340, led by Professor Özgür Arslan-Ayaydin, students tackle a currency carry trade simulation with $1,000,000 in virtual funds—bridging theory and practice while gaining skills that stand out in job interviews. Professor Arslan-Ayaydin also encourages students to earn the Bloomberg Market Concepts (BMC) certification, available through UIC’s CME Training Lab, with personalized support from her teaching assistants. Students consistently highlight how these resources give them a competitive edge in internships and careers! To our faculty and students: keep up the amazing work! #UICFinance #FutureFinanceLeaders #InnovativeEducation

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As Grant Kvalheim steps into the CEO role, he brings a clear vision for Athene’s culture and growth: urgency, focus and execution will continue to define how we lead in today's fast-moving market. Read his interview with Andrew Edgecliffe-Johnson for his perspective on what it takes to lead a high-performing team and stay ahead in a dynamic industry via Semafor’s CEO Signal: https://ow.ly/a9Ba50WpVGE

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We’re proud to share that Sowmya Dhanaraj, Senior Research Fellow at Good Business Lab, recently presented our latest research at the Gender in the Economy: Women in the Digital World conference, hosted by the National Bureau of Economic Research (NBER) in Cambridge, MA. Sowmya talked about our study on Earned Wage Access (EWA) - a program to enable workers to withdraw a portion of their earned wages before payday. Many low-income workers, especially women, experience financial stress, often relying on high-interest loans to cover essential expenses. The program explored to see if flexible access to a worker’s wages can make a difference. The results were powerful: ✅ 33% reduction in informal borrowing - fewer workers had to turn to moneylenders. ✅ 20% decrease in forgone essential expenses - workers could now afford medical care, school fees, and food. ✅ 8% increase in productivity - financial relief helped workers focus better at work. ✅ 24% lower attrition rates - workers stayed longer in jobs, leading to higher overall earnings. A simple change - allowing workers immediate and flexible access to their own wages - reduced financial stress, improved productivity, and helped businesses retain workers. Earned wage access for workers is a win-win for workers and employers alike. 🔗 to Sowmya’s full conference presentation in the comments! #FinancialWellbeing #EarnedWageAccess #WorkerWellbeing #GenderEquality

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In Pensions & Investments' latest private equity report, HarbourVest Senior Market Strategist, Scott Voss, discusses the resilience of service-oriented portfolio companies against trade policy impacts and highlights the importance of differentiated and durable business models for long-term alpha generation. Read more: https://lnkd.in/eVmvRQ_u

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