Liquid alternatives to private equity can be created simply by buying small, cheap, and levered stocks, Nicolas Rabener writes.

After analyzing small-cap biotech data from 2007 on, Akash Goyal has found that higher hedge fund ownership is positively correlated with forward returns and that stocks with higher short interest are correlated with negative forward returns.

The lack of concern for a ‘hard Brexit’ shown by both the voters and commentators during the referendum in 2016, was due to a few factors. Those who wanted out, the ‘Leavers’, were interested in only one thing — a clean break, whilst the ‘Remainers’