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White Papers & Topics Papers
Post U.S. Credit Downgrade - The State of the Markets and Economy (August 9, 2011)
Are Publicly-Traded REITs Real Estate or Stocks? (Jun. 2011)
The Impact and Sustainability of Today's Higher Oil Prices (Mar. 2011)
Japan's Ghastly Trifecta: Earthquake, Tsunami and Nuclear Breach (Mar. 2011)
Quantitative Methods: A brief review of the use of quantitative tools in finance and a successful model applied to international equities (Nov. 2010)
Portfolio Management, Indices, Benchmarks and Competitor Benchmarking (Jun. 2009)
Real Estate
Ron Kaiser, Director and Co-Founder of Bailard frequently presents his real estate research at industry conferences and to individual and institutional audiences. The following is a selected list of his research reports.
Kaiser, Ronald W., "Analyzing Real Estate Portfolio Returns: More than Alpha and Beta... There's Gamma," presented at the American Real Estate Society (ARES) Annual meeting, April 2005.
Kaiser, Ronald W., “When
and Why Real Estate Could Be a Surrogate for Bonds: A Dynamic
Asset Allocation View,” presented at the American
Real Estate Society (ARES) annual meeting, April 2003. Recipient
of the 2003 American Real Estate Society (ARES) Manuscript
Award for "Best Research
Paper Presented by a Practicing Real Estate Professional,"
Monterey, CA, April 2003.
Kaiser, Ronald W., “Public
REITs vs. Private Real Estate: Assessing Your Options,” August 2002.
Kaiser, Ronald W., “Why
Pension Funds Should Invest in Real Estate Now,” 1998.
Kaiser, Ronald W., “The
Long Cycle in Real Estate,” Journal of Real
Estate Research, 1997, Volume 14, Number 3, pp. 233-57. Recipient
of the 1997 American Real Estate Society (ARES) Manuscript
Award for “Best Paper Presented on Real Estate Investment/Portfolio
Management,” Sarasota FL, April 1997.
Global Equities
Hill, Peter, “Global Asset Allocation”, in Jess Lederman and Robert A. Klein, ed., Chapter 15 in Global Asset Allocation: Techniques for Optimizing Portfolio Management, John A. Wiley & Sons, Inc., 1994.
Summary. An asset allocator who looks beyond the domestic stock and bond markets will find increased opportunities to improve the return-risk trade off. Global investing, however, exposes portfolios to increased political and economic risks. Existing quantitative asset allocation techniques may not be sufficient to deal with these risks. A disciplined qualitative approach is needed to analyze risk under conditions of uncertainty. Understanding this dilemma and examining a scenario-based approach to dealing with uncertainty form the heart of this chapter.
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