Peter Bremberg

Great panel about growth strategies with recently promoted Robert Karofsky (Co- President Americas - UBS) recently promoted Michael Camacho (Head of WM US), and John S. Mathews (Head of PWM - UBS)! Few insights from the private wealth briefing: 1) ~$18T of assets will pass between generations from now to 2030 based on a recent Ernst & Young survey. 2) ~$30T of assets will pass to women between now to 2030 based on a recent McKinsey survey. 3) UBS ARC (Analytical Research Community) is a competitive advantage: connecting tech founders, venture capitalists with high quality sector research. 4) Recently created Unified Global Banking, led by Jennifer Gabrielli aims to bring 'one bank' to the next level with wrap around solutions for private clients and their companies. Thanks for spending time together! Team: Chuck Korasick / Robert Gach / Jen Lechman / Samantha Bloom / Jon Schechter, CFP® / Lizzie / Susan Mgmt: Lauren Gorsche #ubsglobalwealthmanagemnt #pwmconference2024

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Should be an interesting conversation on preparing businesses for sale in todays market. Please join if you can.

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Add this WSJ article to the cacophony of exasperation being expressed by private equity investors (LPs) frustrated by the absence of liquidity provided by PE operators (GPs). A conundrum not likely to be resolved soon, and likely to dampen the realized returns ultimately received by LPs (asset owners). With foreseeable public market equity returns (as defined by a market index) widely expected to be insufficient to fund asset owners’ minimum required funding thresholds (ie: often estimated to be spending plus inflation approximating 7-8% per annum), are then 10-year US Treasuries yielding roughly 5.50% likely to be the best performing asset in an asset owners’ portfolio? If yes, then asset owners’ have a looming funding shortfall - especially absent changes to doctrinaire equity style-box and index-tracking implementation dogmas.   A fresh perspective on public market equity implementation that focuses on satisfactory investment outcomes that are relevant to asset owners’ actual spending needs and goals, rather than continuing the historically common practice – and expected future folly – of tethering one’s equity beta to that of an equity benchmark whose performance from today’s elevated levels is widely expected to be sluggish and insufficient to fund minimum liabilities (ie: payout rates, actuarial hurdles, spending goals, etc.). Such a change in public equity perspective comes without ratcheting-up illiquidity, non-transparency, leverage or alts-like fees & expenses. Heather Gillers

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A great article by Michael Swinsburg on the evolving role of the COO, highlighting how they are transitioning from behind-the-scenes to front-facing leaders, managing diverse teams and geographies to drive strategic growth and innovation. The focus on resilience, renewal, robustness, and relationships is spot on, particularly in today’s complex and fast-changing landscape. https://lnkd.in/gjcjJqZW

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I'm excited to share an on-demand webinar I recently recorded with Will Hullinger CFP® of VERITY Wealth Partners. We dive deep into real-world direct indexing case studies: "In-Depth Analysis: Exploring Real-World Direct Indexing Case Studies from Verity Wealth Partners and Alphathena" In this webinar, we explore how Alphathena's direct indexing platform helps advisors navigate investment complexities, focusing on three key areas: 1) Breaking Free from Trapped Capital Gains: Strategies to manage and reduce capital gains taxes through strategic tax-loss harvesting. 2) Customizing Portfolios to Reflect Ethical Values: How to tailor investments to align with clients' specific ethical standards while maintaining efficiency. 3) Mitigating Risks with Concentrated Positions: Techniques for diversifying and balancing portfolios to manage risk effectively. Will Hullinger, CFP, shares his expertise on leveraging direct indexing to enhance portfolio management, optimize tax efficiency, and achieve long-term financial objectives. Ready to gain valuable insights that can transform your approach to investment management? Watch the webinar now: https://bit.ly/3yzIk8E #DirectIndexing #InvestmentManagement #Alphathena #FinancialAdvisors #AI #Fintech #WealthManagement #PortfolioOptimization #TaxEfficiency #EthicalInvesting #RiskManagement #FinancialPlanning #InvestmentStrategy #AssetAllocation #WealthTech #FinancialServices #InvestorEducation #ESGInvesting

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All areas of commerce are benefitting from data analysis, and our industry is no different. And when it comes to hard data, Henry Schwartz is among the very best. Good, punchy interview here fresh from the OIC on many hot topics in the listed options space, including the rise of the "ProTail" customer using options strategically. #Options #OptionsStrategies #Cboe #SPX #VIX #XSP #OIC #0DTE

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If you think portfolio risk management is just about diversification, think again. This article sheds light on some surprising strategies that challenge common perceptions. Here are some thought-provoking takeaways: - Did you know that reducing the number of investments in a portfolio can sometimes actually decrease risks? It's all about strategic selection. - Contrary to popular belief, actively managing risk doesn't necessarily mean more frequent trading. In fact, a hands-off approach can be a smart move. - One of the key points discussed is the importance of understanding the correlation between investments, a factor often overlooked in risk management strategies. - Asymmetric risk and the role it plays in portfolio management is explored, offering a fresh perspective on balancing risk and return. - Ever considered tail risk hedging? This article dives into this lesser-known strategy that can enhance risk management effectiveness. Share your thoughts and feelings on these unconventional risk management strategies. https://lnkd.in/ecgSpH93

Over 240 firms added 450+ strategies to the Nasdaq eVestment platform in 1Q24 for visibility with consultants, intermediaries, and investors. The newly marketed strategies were added by firms domiciled across 30 unique countries spanning from Australia to Singapore to Switzerland, and 28% indicated integration of ESG considerations into their respective investment processes. From a geographic standpoint almost 200 were broadly diversified (i.e. had a global investment focus) in nature, however, in total the newly promoted strategies spanned over 30 different regions across #balanced, #equities, #fixedincome, #hedgefund and #realestate capabilities. Please see the link below for further details… (managers please do contact the Nasdaq eVestment team should you have questions regarding optimizing presence/visibility, opportunities, and relevant trends/insights of those areas where your firm has expertise!).

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We covered a lot of ground on Yahoo Finance earlier today, including the latest ISM data, inflation, employment, rate cuts, and a few technical levels to watch during this market pullback. Thanks for having me on! https://lnkd.in/gXFuFJxi

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A US appeals court has struck down the overreaching SEC rules that would have burdened private equity and hedge funds with unnecessary requirements. The Fifth Circuit Court of Appeals recognized that the SEC exceeded its authority by mandating detailed quarterly reports and limiting side deals. This unanimous decision is a major victory against Gary Gensler's excessive regulatory agenda, which threatens to stifle growth and innovation in the industry. The court's ruling sends a message that regulators can't bypass Congress to push their ridiculous policies. The SEC's failure to link these new rules to fraud prevention only highlights their lack of justification. It's great to see the court protect our industry from costly and intrusive regulations. This decision reaffirms that the $27 trillion private funds industry, which supports pension funds, universities, and individuals, should not be hindered by unwarranted constraints. While the SEC may consider appealing to the Supreme Court, hopefully, the courts will continue to curb such regulatory overreach.

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Thrilled to announce a game-changing partnership between Alphathena and ETF.com! 🚀📊 As an Alphathena team member, I'm incredibly excited about the potential this collaboration unlocks for financial advisors and their clients. Here's why this matters: - Democratizing Direct Indexing: Making sophisticated investment strategies accessible to a broader range of investors. - Enhanced Education: ETF.com users can now access Alphathena's expertise on replicating ETFs more tax-efficiently through direct indexing. - Seamless Integration: Advisors can transition smoothly from ETF research to implementing personalized direct indexing strategies. - Empowering Advisors: Combining cutting-edge technology with comprehensive educational resources to deliver superior client outcomes. - Industry Innovation: Leading the shift towards more personalized, tax-efficient investment solutions. Our co-founders, Tushad Driver and Mohan Naidu, envisioned Alphathena as a solution to help advisors leverage personalization strategies like direct indexing. This partnership with ETF.com is a significant step towards realizing that vision. Proud to be part of a team revolutionizing investment management. Here's to making direct indexing more accessible and understood! Read more about this exciting partnership: https://lnkd.in/gxHu3A6U? #DirectIndexing #FinTech #InvestmentManagement #FinancialAdvisors #AlphathenaPartnerships

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Former Federal Reserve (Fed) Chair Janet Yellen likened the 2017-2019 balance sheet drawdown to "watching paint dry," a sentiment echoed in the current quantitative tightening (QT) phase since May 2022, with nearly $2 trillion reduced. With fiscal policy uncertainty ahead, should the Fed consider ending QT earlier? Discover our insights in this week’s #OnTheMindsofInvestors: https://bit.ly/4i1yU7M

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FundFire Alts: Hedge Funds Urged to Prepare for a Non-Compete Clause Ban A pending rule change may not survive court challenges, but managers must be ready for a range of outcomes; however, we have not seen these concerns affect hiring trends. "Firms continue to build out quantitative and technology capabilities around machine learning in large data sets, often non-financial in nature, and the implementation of large language models on the same front," George Wilbanks remarks. Great reporting by Christopher Larson! https://lnkd.in/ect6j6yu #alternatives #hedgefunds #hiringtrends

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BlackRock Atlanta recently hosted a fireside chat with Samara Cohen, BlackRock’s Chief Investment Officer of ETF and Index Investments. The conversation was moderated by Teja Tops, an analyst in BlackRock’s Atlanta office, with an audience of fellow analysts. Here were some of Samara’s recommendations for the rising leaders: 1. Look at your career as a marathon, not a sprint. As you paint the portrait of your career, set mile markers for yourself that are both measurable and achievable — then figure out what you want to do next. 2. Move from competency to mastery. During her own analyst years, Samara aimed to move from learning everything she could, as fast as she could, to teaching what she’d learned to others. That’s a crucial way to take ownership of everything you’ve learned. 3. Build up those around you. It’s a win when you can look at someone and say you helped them excel into their best selves.

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PE - Hedge Funds Hit by Lack of PE Exits (and one way that PE firms can boost exits) Financial Times: https://lnkd.in/edACss_X FYI - one way to get more PE exits is for the PE fund to have a domain expertise GTM and have deep knowledge on how to increase the Revenue Growth of portfolio companies which boosts cash, profits and margins. --- #pe #privateequity #business

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Hot off the press from my Cliffwater colleague William Dornbrook: Startups on Sale: The Opportunity in VC Secondaries This paper outlines our perspectives on venture capital secondaries, an asset class at an important inflection point for future growth. Structural changes in private markets, a growing need for liquidity from LPs, and near-term headwinds in the IPO market have led to increased investor interest in VC Secondaries. Amid this backdrop of highly motivated sellers and improving metrics for startup quality, we believe VC Secondaries are priced attractively.

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On Monday morning, the VIX index approached 66, the third-highest reading this century. During times of highly correlated selloffs, it's tempting to get distracted by extreme volatility impacting the portfolio. In our latest post, we share our thoughts on what triggered the spike in volatility and how we are navigating through this environment. https://lnkd.in/gMVB2mqr

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