Practical analysis for investment professionals

David Larrabee, CFA

148 Posts

Biography

David Larrabee, CFA, was director of member and corporate products at CFA Institute and served as the subject matter expert in portfolio management and equity investments. Previously, he spent two decades in the asset management industry as a portfolio manager and analyst. He holds a BA in economics from Colgate University and an MBA in finance from Fordham University. Topical Expertise: Equity Investments · Portfolio Management

Author's Posts
Irrational Exhuberance Redux? Greenspan Says Stocks Are Cheap

Critics of former U.S. Federal Reserve Chairman Alan Greenspan’s tenure at the Fed — there’s no shortage — may well consider his bullish call on stocks a contrary indicator.

Hedge Funds: Important Liquidity Providers and “Small Enough to Fail”

Despite their public perception problem, hedge funds are critical providers of liquidity to markets, according to Sebastian Mallaby.

Emerging Markets Warrant an Overweight Position in Investor Portfolios, Says David Hale

Economist David Hale told delegates at the 65th CFA Institute Annual Conference that steady increases in exports and capital spending, combined with favorable demographics, will allow emerging market… READ MORE ›

Frontier Market Investing: Inefficiency Equals Opportunity

Frontier markets are often thought of as inhospitable investing outposts where corruption abounds and investors face outsized risks. Notwithstanding, the safety and integrity of frontier markets has greatly improved over the past decade, and their growing popularity with professional investors is testament to the fact that the risk-adjusted returns offered by frontier markets are indeed attractive.

Update on Money Market Fund Reform: Standoff Continues, but Intervention Looms

Support within the SEC for money market fund reform remains uncertain, and the reforms could very well be doomed if they don't win over a majority of the five commissioners. That is, unless the Financial Stability Oversight Council, a creation of the bureaucratic behemoth known as the 2010 Dodd-Frank Act, steps in. Politics may soon dominate the debate.

Equities Roundup: Outlook for Profits May Be Cloudy, But Abandoning Stocks? That’s So 1979

Global equity markets posted solid, and in some cases spectacular, gains in the first quarter of 2012. Investor euphoria was short-lived, however, as focus in recent weeks has turned to renewed fears about the sovereign debt crisis in Europe. And in the United States, the Federal Reserve has indicated that further quantitative easing (jet fuel for equity markets) may not be necessary.

Does Quantitative Investing Have a Future?

After stumbling badly from 2007 to 2009, quantitative investing has enjoyed a nice run. Nonetheless, a recent CFA Institute member poll suggests that quant managers have a perception problem.

Equities Roundup: Financials Soar, Buffett Scores, and Apple Shares the Wealth

Despite some hand-wringing over China’s ability to orchestrate a soft landing, a successful near-term resolution to the Greek debt crisis and signs of continued economic improvement in the United States have helped to keep global equity markets firmly in the black for the year.

Is a Floating NAV the Fix Money Market Funds Need?

The $2.7 trillion U.S. money market fund industry, which greases the wheels of industry while offering institutional and individual investors a vehicle for cash management and savings, is being targeted for regulatory reforms designed to make it more transparent and less risky. But critics argue that adoption of the proposed changes may trigger unintended consequences with far-reaching effects.

Equities Roundup: Major Indices Rally, But Asset Managers Take a Defensive Posture

Risk on! This has been the investor battle cry since stocks bottomed out in the fall of 2011, and global equities have been on a tear ever since, with many major indices rallying 20% or more. Investors seem to be discounting signs of a resurgent U.S. economy, indications that the crisis in Europe may be contained, and a soft landing in China. Or maybe they are just fed up with the paltry yields offered by bonds.



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