Enterprising Investor
Practical analysis for investment professionals
From Theory to Trillions: David Booth | Financial Thought Exchange

DFA’s David Booth on building portfolios—and an industry—on data, not dogma.

Singapore Floats Retail Access to Private Markets: Next Frontier for Asset Managers?

Singapore’s proposal to democratize private markets signals a shift in retail investing—raising opportunities and risks for investors, managers, and regulators.

Bayesian Edge Investing: A Framework for Smarter Portfolio Allocation

Explore a Bayesian approach to investing that updates beliefs with data, manages risk, and identifies market mispricing.

Search Funds: A Strategic Investment in Underserved Markets

Search funds stand out as a valuable alternative asset class, offering diversification, alpha potential, and operational upside in underserved markets.

Book Review: Financial Statement Analysis for Value Investing

Penman and Pope refine classic value investing through the lens of financial statements.

AI in Investment Management: 5 Lessons From the Front Lines

Explore how AI is reshaping investment management through augmentation, strategic insight, explainability, and evolving investor competencies.

The Little-Known Credit Holding Up the Clean Fuel Market

D3 RINs reveal clean fuel bottlenecks and investor risks as tight supply, rising mandates, and policy shifts drive up prices in the energy transition.

Private Credit’s Surge Has Investors Excited and Regulators Concerned

Private credit's accelerated growth raises critical questions about liquidity, transparency, and systemic risk.

Currency Coordination Looks Riskier Today

This post examines the potential consequences of coordinated dollar depreciation today -- from FX volatility and insurance risk to broader macroeconomic impacts.

Maladapted Industries: The Risk of Artificial Selection by the State

From Europe’s steelmakers to global EV producers, "pet industries" rely on state support to survive, but as political winds shift, their future looks increasingly fragile.