Home › Research › The Four Virtues of Private Equity

The Four Virtues of Private Equity

December 14, 2022 | Amy Miller, Senior Research Analyst

In classical philosophy we are taught that there are four virtues of mind and character. Given the uncertainty that lies ahead in 2023, it is prudent (pun intended) to revert back to these virtues — as they relate to private equity — to outline a framework that may help investors effectively navigate the market.

Prudence: The ability to discern the appropriate course of action
Temperance: The practice of discretion, restraint, and moderation
Fortitude: strength, endurance, and the ability to confront fear
Justice: fairness

Read > The Four Virtues of Private Equity

The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.

Amy Miller
Senior Research Analyst

Get to Know Amy

Related Content

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Combination column and line chart comparing recent holiday spending by U.S. consumers. Chart subtitle: Spending is on track to reach record levels this holiday season, despite mounting economic pressures faced by American consumers. Chart source: Adobe Analytics and CNN Business as of October 31, 2023. Chart description: Left Y-axis is labeled “Spending” and ranges from $0B to $250B. Right Y-axis is labeled “YoY Growth” and ranges from 0% to 50%. X-axis labels each column: 2019, 2020, 2021, 2022, and 2023 (Projected). Holiday Spending by U.S. Consumers is plotted in dark teal columns. Holiday Spending Growth is plotted with light purple line and markers. 2019 saw $143B in spending and 13.1% YoY growth; 2020 $188B, 32.1%; 2021 $205B, 8.7%; 2022 $212B, 3.5%, and 2023 is projected at $222B and 4.8%. End chart description. See disclosures at end of document.

11.30.2023

‘Tis the Season to Spend!

The holiday spending frenzy is well underway as some of the biggest shopping days of the year, including Black Friday…

11.16.2023

The Taming of the VIX

October proved tumultuous for investors as all major U.S. equity indices were negative and the CBOE VIX Index, which serves…

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Combination stacked column and line chart comparing unrealized gains/losses with effective federal funds rate. Chart subtitle: Unrealized losses across depository institutions have increased in recent quarters thanks to higher interest rates. Chart source: Federal Deposit Insurance Corporation and Federal Reserve Bank of St. Louis as of June 30, 2023. Chart description: Left Y-axis is labeled “Unrealized Gains/Losses” and ranges from -$800B to +$800B, corresponding to stacked columns. Right Y-axis is labeled “Rate” and ranges from -6% to +6%, corresponding to line. X-axis ranges from 1Q08 to 2Q23; labels are at 3-quarter increments to fit so last label is for 1Q23. Available-For-Sale Securities are plotted in dark green base of stacked columns; Held-To-Maturity Securities are plotted in lighter green as second half of column. Effect Federal Funds Rate line is plotted in light blue. Unrealized losses are at significant levels for chart losses; since the fed funds rate has increased since 1Q22, losses have totaled over $300B. Most recent datapoints, as of 2Q23 are as follows: Available-For-Sale Securities at -$248.9B, Held-To-Maturity Securities at -$309.6B, and Effective Federal Funds Rate at 5.3%. Please contact us for the full dataset. End chart description. See disclosures at end of document.

11.08.2023

Realizing the Impact of Unrealized Losses

Earlier this year, the regional banking crisis and eventual collapses of Silicon Valley Bank, Signature Bank, First Republic Bank, and…

This chart description is for illustrative purposes only and its accuracy cannot be guaranteed. Please see full disclosures at end of PDF document in the web post. General description: Three-line chart showing cumulative return for various U.S. equity indices. Chart subtitle: Domestic stock indices enter correction territory after recent slide. Chart source: Bloomberg as of October 31, 2023. Chart description: Y-axis is labeled “Cumulative Return” and ranges from -15% to +10%. X-axis is labeled in monthly increments, from Jun-23 to Oct-23. Data ranges 6/30/23 through 10/31/23. S&P 500 Index is plotted in orange line, Nasdaq-100 Index in light tan line, and Russell 2000 Index in dark purple line. Most recent data points, respectively, -5.31%, -4.84%, -11.61%. Please contact us for the full dataset. End chart description. See disclosures at end of document.

11.01.2023

The Chart for Red October

U.S. equities declined for the third consecutive month in October amid an environment of higher yields and underwhelming earnings reports…

10.13.2023

3Q 2023 Market Insights Video

This video is a recording of a live webinar held on October 26 by Marquette’s research team, featuring in-depth analysis…

10.26.2023

Portfolio Trick or Treat

Coming into 2023, investors were cautiously optimistic about 2023 market returns; cautious considering the broad losses across asset classes during…

More articles