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MEET OUR FOUNDER
Kathryn Wilkens: Empowering Investors with Alternative Investment & Data Science Expertise
Kathryn is the founder of Pearl Quest, LLC, a consulting firm at the intersection of alternative investments and data science. With over 25 years of experience in finance, education, and research, she empowers institutions and professionals to navigate the complexities of alternative investments and leverage data-driven insights for better decision-making.
In addition to leading Pearl Quest, Kathryn teaches in the Master of Financial Analysis program at Rutgers Business School, where she helps shape the next generation of finance professionals through advanced coursework in alternative investments and financial data science.
As a former Curriculum Director at CAIA and advisor for CAIA’s Financial Data Professional (FDP) program, Kathryn is passionate about advancing financial education. She is also a research associate at the Center for International Securities and Derivatives Markets (CISDM) and a published author in leading journals such as the Journal of Alternative Investments. Additionally, she is a frequent contributor to Portfolio Management Research’s Practical Applications publication.
Through her work, Kathryn bridges the gap between traditional finance and cutting-edge data science, helping clients unlock new opportunities in small-cap investments, hedge funds, and beyond.
Beyond her work in finance and education, Kathryn is deeply committed to social impact. She serves on the Board of Directors for the Coalition to End Homelessness, where she helps drive initiatives to address one of society’s most pressing challenges.
Publications
Books & Study Guides
- Wilkens, K. Alternative Investments: Expanding Frontiers, 2025 (forthcoming on Leanpub book link)
- Kazemi. H, S. Das, and K. Wilkens, Financial Data Professional Study Guide, 2020-2024.
- Wilkens, K., S. McCary, and U. Garay. CAIA Exam Review Study Guide, Level II, Volumes 1 & 2, Wiley, 2019
- Wilkens, K. and S. McCary, CAIA Exam Review Study Guide, Level I, Volumes 1 & 2, Wiley, 2018
- Wilkens‐Christopher, K., Editor. CAIA Level II: Advanced Core Topics in Alternative Investments. John Wiley & Sons, 2009.
- Wilkens‐Christopher, K., Preface for CAIA Level I: An Introduction to Core Topics in Alternative Investments by Mark Anson. John Wiley & Sons, 2009.
- Wilkens‐Christopher, K. CAIA Level II: Integrated Topics and Applications, 2010‐2011. Institutional Investor, 2009.
- Wilkens‐Christopher, K. CAIA Level II: Current and Integrated Topics, 2009‐2010. Institutional Investor, 2009.
- Wilkens, K. CAIA Level II: Integrated Topic Readings (2008‐2009, 2007‐2008, 2006‐2007). Institutional Investor, NY.
- Wilkens, K., Lacey, N., Gupta, B., and J. McCreanor. CAIA Level II: Advanced Topic Readings, 2005‐2006. Institutional Investor, NY, 2005.
- CAIA Level I Study Guide and CAIA Level II Study Guide (2003-2009). CAIA Association, Amherst, MA.
- KalmNotes Study Guides and KalmPrep Software (2003-2006). KalmAI, Inc.
Book Chapters
- Wilkens, K. “Ethics, Sound Practices and Valuation Guidelines.” The Euromoney Hedge Funds & Alternative Investments Handbook. London, UK, 2008.
- Gupta, B. and Wilkens, K. “An Evaluation of the Commodity Exposure in Commodity Trading Advisors.” In Intelligent Commodity Investing: New Strategies and Practical Insights for Informed Decision Making. Edited by Hilary Till and Joseph Eagleeye, Risk Books, 2007.
- Chambers, D. and Wilkens, K. “Absolute Performance and Correlation Persistence of Hedge Funds Returns: An Analysis Using the CISDM Database.” In Hedge Funds and Managed Futures – The Handbook for the Institutional Investor. Edited by Greg N. Gregoriou and Dieter Kaiser, Risk Books, 2006.
- Wilkens, K. “Hedge Fund Indices: Are They Cost‐Effective Alternatives to Fund of Funds?” In Fund of Hedge Funds: Performance, Assessment, Diversification and Statistical Properties. Edited by Greg N. Gregoriou, Elsevier Press, 2006.
- Wilkens, K., C. Morales, and L. Roman. “Maximum Drawdown Distributions with Volatility Persistence.” In Hedge Funds: Insights in Performance Measurement, Risk Analysis, and Portfolio Allocation. Edited by Gregoriou, Hubner, Papageorgiou, and Rouah, John Wiley & Sons, Inc. 2005, pp. 245‐5.
- Wilkens, K., K. Makhurjee, and G. Darling. “Commodity Trading Advisor Performance Evaluation with Data Envelopment Analysis.” In Commodity Trading Advisors: Risk, Performance Analysis and Selection. Edited by Gregoriou, Karavas, Rouah, and L’Habitant, John Wiley & Sons, Inc. 2004, pp. 79‐104.
- Wilkens, K. and J. Zhu. “Classifying Hedge Funds Using Data Envelopment Analysis.” In Hedge Funds in a Black Box: A Quantitative Approach. Edited by G. N. Gregoriou, V. N. Karavas, and F. Rouah, Beard Books, 2003, pp. 161‐75.
Peer-Reviewed Journal Articles
- Heck, J. L., Wilkens, K., & Cochran, S. “Effects of Mean Reversion on Alternative Investment Strategies.” Managerial Finance, Vol. 32, No. 1 (2006), pp. 14‐38. Read more.
- Heck, J. L., Wilkens, K., & Cochran, S. “Risk and Return Properties of Portfolios Based on Directional Forecasts.” Managerial Finance, Vol. 31, No. 8 (2005), pp. 58‐76. Read more.
- Wilkens, K. and J. Zhu. “Portfolio Evaluation and Benchmark Selection: A Mathematical Programming Approach.” The Journal of Alternative Investments, Vol. 4, No. 1 (Summer 2001), pp. 9‐20. Read more.
- Wilkens, K. “Evidence on Risk/Return Patterns in Cash and Futures Markets for Systematic Alternative Investment Strategies.” The Journal of Alternative Investments, Vol. 2, No. 1 (Fall 2000), pp. 45‐67. Read more.
- Glazier, J. and Wilkens, K. “Skill and Turnover: Requirements for Investment Performance.” The Journal of Alternative Investments, Vol. 2, No. 1 (Summer 1999), pp. 22‐33. Read more.
Industry Publications & White Papers
- Kazemi, H., and K. Wilkens. A Simple Approach to the Management of Endowments. CAIA Blog (2017) Read More
- Wilkens, K. "Ethics, Sound Practices and Valuation Guidlines," Chapter 9, The Euromoney Hedge Funds & Alternative Investments Handbook, Prtt of Euromoney Institutional Investors, PLC.
- Warsager, R., Ryan Duncan, and K.Wilkens “A Comparison of Two Hedge Fund Strategies: CTA and Global Macro.” The AIMA Journal, June 2004 (Part I) and September 2004 (Part II).
- Wilkens, K., N. Thomas, and M. S. Fofana. “Stability of Technology Stock Prices: Evidence of Rational Expectations or Irrational Sentiment?” Managerial Finance, Vol. 30, No. 12 (June 2003), pp. 33‐54. Read more.
- Bailey, B. A., J. L. Heck, and Wilkens, K. “International Mutual Fund Performance and Political Risk.” Review of Pacific Basin Financial Markets and Policies, Vol. 8, No. 1 (2005), pp. 167‐84. Read more
- Bianco, C., P. Clarke, and Wilkens, K. “Lucent Technologies: Growth Projections, Analyst Recommendations, and Financial Distress. A Case Analysis.” Advances in Financial Education (Fall 2003), pp. 94‐110.
- Wilkens, K. “A Discussion-Based Exercise Emphasizing the Role of Scientific Methods in Finance.” The Journal of Financial Education, Vol. 29 (Summer 2003), pp. 98‐107. Read more.
Practical Applications Reports
Practical Applications Reports are published by Portfolio Management Research of With.Intelligence, the publisher of a family of journals, including the Journal of Financial Data Science, Journal of Portfolio Management, Journal of Alternative Investments, and more. The short reports are designed to bridge the gap between financial theory and practice. They distill technical research down to the central concepts and practical takeaways, allowing institutional investors to quickly implement key research methods and ideas. Kathryn regularly writes reports for PMR and enjoys keeping abreast of the latest developments and sharing them in this format. As of early 2025, she has written more than 40 reports.