The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Introduction

Most arguments advocating for digital asset exposure are singular in focus: there is just one asset contemplated — bitcoin (BTC) — and the analysis applies exclusively to long-only exposure within a standard 60/40 stock/bond portfolio.

This is understandable given BTC’s dominance in terms of market capitalization and popular culture, and the 60/40 model…


Credit: Gerd Altmann

The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Introduction

Data have different definitions in statistics. For example, discrete-binary data have finite values and limited potential outcomes. Conversely, continuous data can fall anywhere on a continuum and therefore contain infinite possibilities.

Binary is yes/no, on/off, zero/one. Something either happens or it does not. …


The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Introduction

Jesse Felder is a former hedge fund trader who is now the founder, editor, and publisher of the widely read financial blog and newsletter, The Felder Report. He is also the producer/host of the Superinvestors and the Art of Wordly Wisdom podcast.

We are longtime fans of Mr. Felder’s work, his podcast in…


The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Introduction

Building a successful hedge fund is astronomically difficult. Even with blue-chip pedigrees and the relative safety of trading established asset classes, the typical hedge fund story is one of failure.

This lack of success is not necessarily due to irresponsible business or portfolio management — though that of course happens from time-to-time —…


The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Introduction

In their August 2020 monthly investor letter, the good folks at Bitwise took aim at active management in digital assets while making “The Case for Indexing in Crypto”. …


The Special Considerations, which can be found here, are an integral part of this blog post, are incorporated into this blog post by reference and must be read in conjunction with this blog post. This blog post is considered “Site Content” for purposes of such Special Considerations.

Summary

A shifting investment landscape may require that investors adopt a more exploratory mindset to achieve their target returns going forward. Digital assets have the potential to play a productive role in helping investors address the challenges of late cycle valuations and diminishing value add from conventional sources of active management.

Most arguments in…

Dalpha Capital Management

An alternative investment firm specializing in digital asset trading strategies. http://www.dalpha.capital

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