"The essence of investment management is the management of risks, not the management of returns."
—Benjamin Graham

Risk measurement can be outsourced; risk management responsibility cannot.
Our nowcasting and risk management research is targeted at investors with risk management responsibility.
 
Selected interviews and articles can be found here.
Older "absolute returns research" can be found here
 
 
IR&M in a nutshell
 

Ineichen Research and Management (IR&M) is an independent research firm dedicated to exploring investment themes related to nowcasting and risk management.

IR&M's risk management research is meticulously crafted to enhance the resilience of investment decision-making, with a particular emphasis on minimizing losses. The scope of risk coverage is comprehensive, recognizing that potential threats can arise from diverse sources. The primary focus extends beyond mere risk assessment and encompasses the broader realm of uncertainty. This broader perspective accounts for multifaceted uncertainties, including policy missteps stemming from socio-economic or monetary experiments, corruption, expropriation, negative capital compounding, and even the spectre of war. To achieve its objectives, IR&M employs a combination of astute big-picture thinking, practical checklists, comprehensive financial analysis, meticulous monitoring of regime shifts, and multiple scoring techniques for a broad range of assets and investments. These tools collectively contribute to a more informed and nuanced approach to risk assessment and investment decision-making.

IR&M utilizes a comprehensive suite of proprietary economic models to meticulously assess cyclical and intra-cyclical trends, providing a robust foundation for comprehensive risk assessment. This top-down approach is seamlessly integrated with unwavering vigilance in monitoring earnings momentum and earnings revisions, ensuring that our risk assessments are firmly grounded in the real-world performance of industries and companies. IR&M employs a synergistic blend of conventional and unconventional, intuitive methodologies to assess valuations and the inherent risks associated with them.

Nowcasting

IR&M eschews traditional forecasting methods in favour of nowcasting, a technique that captures the current state of the market and identifies emerging trends. Nowcasting seamlessly integrates fundamental, technical, and sentiment analysis to provide a holistic view of market dynamics. Unlike forecasting, which often relies on subjective projections, nowcasting is anchored in verifiable facts, enabling IR&M to objectively assess trends and their persistence. This approach reflects the recognition that trends often extend beyond the timeframes typically considered by forecasters. To facilitate this objective assessment, IR&M employs a scoring system that evaluates macro, equity, FX, and commodities markets across a range of countries, sectors, industries, and themes. This scoring system provides a clear and consistent framework for evaluating market conditions and identifying opportunities.

Target audience

IR&M's risk management research is tailored to the needs of institutional and professional investors who seek both comprehensive insights and concise summaries. For those who value speed and efficiency, our research can be grasped effortlessly through digestible summaries. Yet, for those seeking deeper dives and greater granularity, IR&M provides regular releases of detailed analyses. This dual approach caters to the diverse preferences of our discerning clientele.

Coverage

IR&M's flagship publication, the Risk Management Research Update, delivers comprehensive insights and perspectives on the dynamic financial landscape, appearing 12 to 15 times annually. To complement this in-depth overview, IR&M offers a series of concise 1 to 3 flash updates during the week, providing timely insights and alerts to our esteemed subscribers. Regular risk monitoring, rankings, and scores ensure that subscribers remain abreast of the latest developments, empowering them to make informed investment decisions promptly.