Practical analysis for investment professionals
The Alpha Capture Ratio: Rising Interest Rates Mean Pricier Alpha

What can hedge fund investors do to optimize the price they pay for alpha?

ChatGPT and Large Language Models: Syntax and Semantics

Today, ChatGPT and large language models (LLMs) more generally represent the next evolution in AI/ML technology. And that comes with a number of implications.

The Auto Sector’s Green Transition: Three Roads to Lower Returns?

Are investors fully factoring in enough investment risk from the green transition?

Small Caps: Party Like It’s 2000?

The legendary musician Prince exhorted us to “Party like it’s 1999,” but today, as a small-cap stock investor, I’d flip the calendar one year ahead, to 2000.

How Do Performance Metrics Correlate? Might Fund Managers Cherry-Pick?

With various performance metrics to choose among, might fund managers be tempted to cherry-pick those that reflect most favorably on their performance?

The Benefits of Using Economically Meaningful Factors in Financial Data Science

As machine learning (ML) and data science become ever more integrated into finance, which factors should we consider for our ML-driven investment models and how should we select among them?

Rethinking Corporate FX Hedging: Seeing the Forest through the Trees

Why are publicly traded companies so often blindsided by FX volatility?

Book Review: The Economics of the Stock Market

Now, more than ever, we urgently need a comprehensive alternative to the neoclassical model of stock market behavior. Andrew Smithers attempts to fill in this gap.

Project Finance: Beware Interest Rate Miscalculations

To navigate the storms of interest rate variability, we need foresight and flexibility.

Do Better ESG Ratings Boost Bond Holders?

Does the bond market view companies with better ESG ratings as better credit risks?



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