Practical analysis for investment professionals

Drivers of Value


Negative Real Interest Rates: The Conundrum for Investment and Spending Policies

Can anyone reasonably expect to earn a 5% real return with acceptable risk in today’s economic environment?

Take 15: The State of Lie Detection in Finance (Video)

Dr. Maria Hartwig, a deception and lying behavior expert, discusses the state of lie detection in finance. She also reviews important lie detection research and what the future holds for lie detection in finance.

Do Good Investment Managers Give Away Great Ideas? It’s Entirely Rational According to New Study

A newly updated study of the market-beating stock recommendations posted to Value Investors Club, a private online community restricted to 250 elite money managers, provides further insights on why professional investors at rival firms may be motivated to share ideas and collaborate.

The Unintelligent Investment? Gauging Facebook’s IPO Through the Lens of Graham and Dodd

Investors who bought shares in the recent public offering should have first consulted the authors of Security Analysis, who wrote that the intrinsic value of a security is “that value which is justified by the facts . . . as distinct, let us say, from market quotations established by artificial manipulation or distorted by psychological excesses.”

Using Twitter To Understand Information and Improve Investment Returns

Twitter is an excellent resource for investors wanting to understand information and improve investment returns.

Take 15: India’s Opportunities in Tomorrow’s World

Clint R. Laurent discusses how the resolution of sovereign debt problems in the United States and the Eurozone will affect economic activity and the flows of trade and finance across the globe. Specifically, he touches upon the substantial challenges faced by India and the rest of east Asia in the composition of demand and output and how major bond, equity, and currency markets anticipate the incipient cyclical and structural shifts in the world economy.

An Overview of Alternatives to Credit Ratings

In the wake of the Great Recession, many alternatives to the traditional credit-rating agencies are being considered. Here is an overview.

A New Investment Thesis for China

Patrick Chovanec of Tsinghua University argued that an imminent correction will yield promising opportunities in dynamic new sectors of the Chinese economy.

Population Growth Bodes Well for African Economies

The world population has surpassed 7 billion people. As inhabitants of Earth first, and investors second, should we be concerned? According to economist and demographer Richard Hokenson the answer is no. Instead, we should be concerned that the world population is projected to shrink as it ages — and as a result the global labor force will soon be declining.

Africa: The Land of Alpha

The famed hockey player Wayne Gretzky once said, "A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be." Frontier markets — especially those in Africa — are where alpha is going to be.



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