FEATURED

WEEKLY INSIGHTS

Weekly Insights is a weekly column on topics relevant to the investment community in the Singapore Business Times with articles contributed by members, Institute staff, specialists in the investment field and the CFA Singapore Advocacy team.

Private equity: Five lessons from the GFC

Private equity: Five lessons from the GFC

UP UNTIL the 2008 credit crunch, the conventional recipe for success in private equity (PE) was straightforward: Just pour in debt and stir. A generous dose of leverage typically spiced up the financing of a transaction.

But the global financial crisis (GFC) turned this money pie into mush. Government-backed purchases of toxic assets – funded by central bank purchases of government bonds – eventually engineered a comprehensive bailout of distressed borrowers and other heavy debt users. With loose monetary policies throughout the 2010s, leverage returned with a vengeance.

read more
Let’s talk blockchain, not crypto

Let’s talk blockchain, not crypto

FOR the average person, the term “crypto” has become a catchall. It encompasses everything from non-fungible tokens (NFTs) to Layer 0s, Layer 1s, Layer 2s, staking protocols, permissioned blockchains, public chains, Web 2.5, Web 3.0, and beyond.

read more
Book review: Poor Charlie’s Almanack

Book review: Poor Charlie’s Almanack

In Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T Munger, Munger dishes out folksy wisdom about values and valuation accumulated over almost a century. His examples are punctuated with memorable phrases, such as the utility of “a one-legged man in an a**-kicking contest” and a man who owns only a hammer and to whom every problem looks like a nail.

read more
Words matter: Setting standards for responsible investing terms

Words matter: Setting standards for responsible investing terms

INNOVATION often comes with new words and terminology; developments in responsible investments are no exception. As people strive to communicate new sustainable investing concepts and strategies, they sometimes use different words to express similar ideas or the same words to express different ones.

read more
Private capital: Lessons from the conglomerate era

Private capital: Lessons from the conglomerate era

GLOBAL private capital firms are charting a well-travelled course. With their sprawling empires, the largest alternative asset managers have adopted strategies that borrow extensively from the octopus-like corporate conglomerate business model.

read more