Category: Insights
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Due Diligence 101: Upholding Rigor Against a Tide of Compromise
This is how it should be done. With alternative investments, manager selection is crucial to success, and due diligence is the cornerstone of this process. As we’ve discussed in previous articles, far from being a simple checklist or rubber-stamp formality, due diligence is an in-depth exploration of a manager’s operations,…
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Third Wire Counterweight Newsletter: January 2024
To subscribe to our newsletter visit us on LinkedIn: What’s your cutoff date for wishing people a Happy New Year? I think it’s February 1st. If it’s still January and you have not spoken to the person yet, it’s perfectly acceptable. So, Happy New Year! Are you like me and tired…
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Due Diligence 101: Best-in-Class?
Reality Check Call us old-fashioned if you want, but in our view, every movie isn’t Oscar-worthy, every kid doesn’t deserve a gold medal just for participating, and every fund manager isn’t ‘best-in-class’—sorry. While we appreciate their optimism, just making the claim in marketing materials doesn’t make it so. Like we’ve…
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Third Wire Counterweight Newsletter: December 2023
To subscribe to our newsletter visit us on LinkedIn: First of all, Happy Holidays, and thank you for subscribing to our humble newsletter. I hope we have a chance to get to know each other better in the coming year. I recently reviewed some research conducted by Cerulli and SIFMA called…
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Regulatory & Compliance 101: Looking Beyond Diversification to Potential Tax Benefits of Investing in Liquid Hedge Funds.
Exposition: A Financial Advisor’s Peculiar Interest in Tax Code We once heard a story about a financial advisor who always traveled with the latest edition of the U.S. Master Tax Guide. They liked to spend their travel time looking for obscure benefits and potential breaks for their clients. It may…
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Third Wire Counterweight Newsletter: November 2023
Third Wire’s newsletter, ‘Counterweight,’ addresses the significance of alternative investments, comparing them to a counterweight in an elevator for reliability. It covers industry updates, including hedge funds, private equity, private credit, and commercial real estate trends, and provides educational resources. The newsletter aims to be concise, informative, and useful for…
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Due Diligence 101: The Front Line of Alternative Investment Success
LTCM, Amaranth Advisors, Madoff, Galleon—these are just a few of the due diligence horror stories older alternative investment professionals tell junior analysts at after-work cocktail hours to school them. Unfortunately for a number of investors, including some of the world’s most sophisticated institutions, these were more than just stories. The…