Practical analysis for investment professionals

Fixed Income


Book Review: Asset Allocation

William Kinlaw, Mark Kritzman, and David Turkington offer advice on a wide range of asset allocation topics, backing up their recommendations with solid quantitative analysis.

Why Invest in Stocks?

Equities are not necessarily more risky than such "safe" assets as US Treasuries. 

Geopolitical Shock: Regime Change in Inflation and Monetary Policy

As cracks develop along geopolitical fault lines, new barriers could emerge to disrupt global trade.

Time-Varying Risk Premia: Cochrane’s “Discount Rates”

"Discount rates vary a lot more than we thought. Most of the puzzles and anomalies that we face amount to discount-rate variation we do not understand."

Modern Variants of Capitalism, Part 2: Financial Capitalism

In financial capitalism, wealth is transaction-based rather than operational.

Growth in Sustainable Indices Proves Sustainable

The number of indices measuring ESG criteria continues to spike, Rick Redding, CFA, reports.

Dow 36,000! Crypto $3 Trillion! Charting a Wild Decade in Finance

Dow 36,000, crypto, Brexit, GameStop, pandemic. Imagine you uttered these terms back in the autumn of 2011, when Enterprising Investor first launched. What would they have evoked?

Book Review: The Caesars Palace Coup

Max Frumes and Sujeet Indap provide a fascinating inside account of the distressed debt markets, including the strategies, the colorful personalities, and the complex relationships.

Market Resiliency, Capital Formation, and Investing for Our Future

The story of the markets over the last 10 years has been one of remarkable change. Yet economies are still struggling.

Passive Management: The Baseline for Defined Contribution Plan Sponsors?

If active managers cannot add value, then passive is the preferred position, not the other way around.