CFA. Founder. Fintech | Using duration to price the term structure of private market funds' returns | Invented DARC + PRIFFE | Private Fund Derivatives
Milan
Joined April 2012
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Massimiliano Saccone retweeted
Private asset allocations are suffering from a severe denominator effect, Massimiliano Saccone, CFA, contends.
So what can be done about it?
@mxsk1
blogs.cfainstitute.org/inves…
Massimiliano Saccone retweeted
The debate about private market fund valuations and volatility has returned to center stage, Massimiliano Saccone, CFA, says.
How can investors price NAV valuations and efficiently transfer their eventual risk?
@mxsk1 via @Enterprising
buff.ly/3InTBJY
Massimiliano Saccone retweeted
Great to have our CEO, Massimiliano Saccone @mxsk1, unveiling our #risktransfer strategy and platform with @RiskNet_AM
Massimiliano Saccone retweeted
Is there a better way?
"We believe it would increase trust, putting both the industry and investors in a better position to form stronger, more lasting partnerships."
A new approach to evaluating private investment returns from @mxsk1
fwpwealth.com/solutions-to-i…
Massimiliano Saccone retweeted
Is it finally time for DaRC?
“A more accurate measure that evolves the information set available to investors specifically overcoming the limitations of the IRR.”
via @Enterprising from 2020
blogs.cfainstitute.org/inves…
Massimiliano Saccone retweeted
Glad to see @mxsk1 on air again on this important topic. Thanks to @CFAinstitute @Enterprising.
The IRR is dead, long live #PrivateEquity with properly measured performance. #transparency #timeweighting
Massimiliano Saccone retweeted
The public market equivalent (PME) does not reflect the economic reality of #privateequity investing, says @mxsk1, CFA, of @XTALStrategies.
What PME mechanics truly miss is the economic substance of PE managers’ investment styles. cfainst.is/3AxIR7n
Massimiliano Saccone retweeted
Proud of the consideration for our team's work! There is the need of being constructive on #PrivateEquity #performance. Thanks to @CFAinstitute @Enterprising
@mxsk1 #sestante
The internal rate of return (IRR) has outlived its usefulness, says Massimiliano Saccone, CFA.
It doesn't tell when the average return begins to be earned or for how long.
Can a new #privateequity metric do better?
@mxsk1
@XTALStrategies
@Enterprising cfainst.is/3cYa7CC
Massimiliano Saccone retweeted
The internal rate of return (IRR) is dead, says Massimiliano Saccone, CFA. Long live the IRR.
@mxsk1
@XTALStrategies
#privateequity cfainst.is/34HU6La
Massimiliano Saccone retweeted
The Faulty Metric at the Center of
#PE’s Value Proposition. @XTALStrategies Advances PE Performance Measurement by Introducing a Novel Approach in Time-Weighted Terms, the DaRC (Duration adjusted Return on Capital)
#PrivateEquity
ft.com/content/33ec23c0-fe95… via @financialtimes
Massimiliano Saccone retweeted
On the same page, though. @XTALStrategies is not the odd one out among market practitioners
This Post is from an account that no longer exists. Learn more
Massimiliano Saccone retweeted
The economy downturn appears to dent Private Equity returns. How can LPs can hedge themselves from market risk while GPs deal with the contingencies?
lnkd.in/d4mDPtQ #privateequity #marketrisk #riskmanagement #relativevalue #privatemarkets #benchmarks #covid19
Massimiliano Saccone retweeted
On Jul 10, the XTAL Private Equity Liquidity Cost Index posted a positive 1.83% day-on-day decrease in the liquidity cost to sell a diversified portfolio of Buyout #PE funds. The Index rebounded 35.60% since the 11-yr minimum hit on Mar 23
#PrivateEquity #COVID19 #privatemarkets
Massimiliano Saccone retweeted
Italy has many problems, like every economy in the world. But the deep misinformation about the Italian economy is probably also one of those problems. This thread is a must read.
Politicians, economists and the media have been using distorted images of Italy and the Italian economy. How do we reduce these distortions? Niki Kowall and I make an attempt by writing about seven ("surprising") facts about Italy's economy. A thread: /1
socialeurope.eu/seven-surpri…
Massimiliano Saccone retweeted
How will the coronavirus epidemic affect global markets?
How should investment managers respond to the fast-shifting landscape?
Explore these questions with
@laurenceBsiegel
@meirstatman
@rebeccafender
@robertmartorana
@mxsk1
@blackrock's Barbara Novick & Samantha Merwin, CFA
Massimiliano Saccone retweeted
In reality, #IRR is not about how much money is made but how quickly that happens. #Coronavirus is expected to have a real economy impact and truly affect $$ returns #PrivateEquity #duration #timeweighted #performance #DaRC institutionalinvestor.com/ar…
Massimiliano Saccone retweeted
While private equity’s appeal may be obvious, its potential benefits intuitive, measuring and explaining private equity performance is an ongoing challenge, Massimiliano Saccone, CFA, explains. cfa.is/2SF2EN7 via @enterprising @mxsk1
Massimiliano Saccone retweeted
Recession probability model (based on 10y-3m YC) from @NewYorkFed has jumped to near-40%
