As markets hit new highs, we explore whether rational economic man, the bedrock of many financial theories and valuation models, is subject to unseen and adverse physiological influences. Read more
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It’s no secret that big economies poised for rapid growth need robust infrastructure. Without the latter’s proper support, expansion will slow or worse, stall. This need is especially acute in India, where infrastructure development has lagged woefully behind that of the economy. With such pressing demand, there have been plenty of projects up for bidding. But investors are not biting. Read more
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Central bankers are opening the spigot again. Last Thursday the European Central Bank (ECB) announced a widely anticipated asset-purchase program, commonly known as quantitative easing, or QE. There seems to be good reason for action. Read more
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Active management is a tough gig. But knowing what does not work at least gets investors a step closer to finding their own secret sauce. Here are a few suspicious approaches some active managers pursue. Rather than adding alpha, these are more like illustrations of how not to beat the market. Read more
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I’ve collected 29 charts over the last several days that I think are worth your attention. Read more
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Fund managers are generally an optimistic lot, especially in the midst of a bull market, but even more so at the start of each new year. The turning of the calendar has become a popular occasion for introspection, an appraisal of what might have gone wrong—a lot for active managers in 2014—and, unfortunately, predictions. The ubiquitous “Top Ten” lists, while generally entertaining, are as much marketing pitches as they are serious reading. Below are some other stories that caught my eye in recent weeks. Read more
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Usman Hayat, CFA, rounds up his favorite pieces on socially responsible investing (SRI) from the past year. Read more
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There is much greater dimensionality to the stock market than is suggested by the one-factor capital asset pricing model, but investors underestimate the market’s dimensionality through their recent embrace of “smart beta” strategies. Read more
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