Practical analysis for investment professionals

Equity Investments


Where Markets Fail: Visible Hands

Markets frequently fail, despite their pristine reputation among capitalists. One way is the many actions taken by buyers and sellers to tilt a transaction in their favor. These visible hands create asymmetries between the parties. Jason Voss, CFA, explains.

Emerging Market Equities: Unloved and Under-Owned

“Emerging market equities [have] a history of headlines — mostly negative — and volatility,” said Devan Kaloo, head of global emerging markets equities at Aberdeen Asset Management. Yet there is reason for optimism, especially for those value investors who dive deeply into the fundamentals, which may be turning positive, Kaloo told attendees at the 70th CFA Institute Annual Conference.

Carbon Free? Really?

In the final analysis, can we truly measure the emissions of our portfolio? Or understand what the actual “carbon footprint” is? No, not really, says Christopher K. Merker, CFA, but it is becoming easier.

Eugene Fama: Stick with Basic Factors

Have the advances in technology, computing power, and data made the markets more efficient? It’s “not clear,” according to Nobel laureate Eugene Fama.

Weekend Reads for Investors: Wake Up from the Summer Doldrums Edition

Jason Voss, CFA, provides his picks for Weekend Reads for Investors. This edition curates stories on the potential repeal of the tax deduction corporations in the United States receive on debt payments, the end of Big Oil, how we can recognize machine consciousness, and more.

Top Five Articles from June: Blockchain, Shiller vs. Siegel, and Shooting Par

Larry Cao, CFA, discusses Campbell R. Harvey's definition of blockchain; Lauren Foster describes the continuing debate between Robert J. Shiller and Jeremy Siegel; Dougal Williams, CFA, suggests investors focus on shooting par in the investment market; Martin Fridson, CFA, reviews The End of Accounting and the Path Forward for Investors and Managers; and Mimmi Kheddache Jendeby provides some investing lessons from Epictetus, in the top Enterprising Investor posts from June.

Book Review: Concentrated Investing

Sharing insights from top value investors, the authors discuss the strategies that make concentrated value investing profitable while revealing how to reduce and manage risk over time.

Beat the Field by Shooting Par

"What if, instead of trying to beat the market, investors focused on outperforming other investors by earning investing’s equivalent to par?" asks Dougal Williams, CFA.

Book Review: Efficiently Inefficient

The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.

Shiller vs. Siegel: Is the Stock Market Overvalued?

Is the stock market overvalued? That depends on who you ask. Nobel laureate Robert J. Shiller says "yes," while Jeremy Siegel says "no."



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