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A Risk Management System that Works

Journal of Investing · Jun 30, 2019Journal of Investing · Jun 30, 2019


    • A risk management system should, at a minimum, explain asset class behavior and provide useful insights. Most current methodologies fall short in either one or both areas. They have inconsistent explanatory power and offer little or no insight, forcing portfolio managers to resort to blind faith. How else can one explain the calamity that befell prominent institutions during the Great Recession of 2007/8?
      Understanding the sources of risk is a critical component in managing it. An economic factor model provides this much needed understanding. It not only explains price behavior of diverse assets, but does so in an intuitive manner.
      It is our expectation that a better understanding will result in more resilient portfolios, limiting the drawdowns from market corrections and producing more satisfactory outcomes. We also envision novel uses arising from such a system that are heretofore not practical or feasible.


Robi Elnekave is a seasoned investment manager with expertise in quantitative investing and the use of technology for investment research and business applications.  As founder and managing director of Investment Management Institute, he manages assets for high net worth individuals, developing and utilizing products that address risk, return and cost efficiency in investing.Previously Robi co-founded Chicago Investment Analytics, whose client base was comprised of the industry’s most prominent institutional investment companies. He also spearheaded the development of a large scale, proprietary research and production system, which was instrumental in the sale of the company to Charles Schwab.  Robi’s articles in Journal of Investing and Journal of Wealth Management have established him as a thought leader in factor discovery, model architecture and portfolio 

construction.  In addition to his professional career, Robi has served on several boards of directors. As former chairman and board member of Project HANDS, he is deeply committed to sustainable healthcare initiatives and capacity building in developing countries. He also served as a board member and chairman of the finance committee of Chicago’s largest residential property, and held a board position with the non-profit organization Partner for Surgery.  Robi earned his MBA magna cum laude from New York University Stern School of Business.


Since our inception, IMI has been dedicated to providing our clients with unparalleled investment solutions. As an investment management firm, we specialize in identifying investment opportunities that have the potential to generate solid returns. Our broad experience has allowed us to develop a deep understanding of financial markets across various geographies, sectors, and asset classes, enabling us to deliver customized investment solutions that fit the unique needs of our clients.


Very little in finance can be taken for granted. One notable exception is portfolio diversification, a theory that has, on the whole, withstood the test of time.  Our broad experience with asset classes, global markets and economic regimes allows us to position your portfolio in the most promising manner.

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