Practical analysis for investment professionals

Alternative Investments


In Practice Summary: Social Responsibility (SR) Screens and Fund Performance

Does environmental, social, and governance (ESG) investing add or subtract value from investment portfolios? According to the findings of a trio of researchers, summarized in the new In Practice series, the answer is neither: Investors can both match index performance while also “doing good” for the environment and society.

Top Five Articles from May: Behavioral Finance, Blockchain, and ESG

Jason Voss, CFA, and C. Thomas Howard recommend replacing modern portfolio theory (MPT) with behavioral finance and dismantling the finance industry's closet indexing factory; Larry Cao, CFA, helps to define blockchain; Mark Harrison, CFA, considers issues of performance measurement in factor investing; and Christopher K. Merker, PhD, CFA, looks at the rising tide of environmental, social, and governance (ESG) investing, in the top Enterprising Investor posts from May.

The Stampede into ESG

The recent stampede of asset managers into environmental, social, and governance (ESG) investing is reminiscent of another time and another industry, says Christopher K. Merker, PhD, CFA.

Top Five Articles from March: Cover Letters, Hedge Funds, Active Equity

Julia VanDeren shares some insights on giving presentations and writing cover letters; Ben Carlson, CFA, discusses how to determine which hedge funds to invest in; Mark Harrison, CFA, curates the best content on smart beta and factor investing; and C. Thomas Howard and Jason Voss, CFA, offer some advice on how to revive active equity, in the top Enterprising Investor Posts from March.

A Rebalancing Market Means Higher Oil Prices

Jennifer Stevenson sees strong support for oil prices, and a supply-side rebalancing could mean big gains for North American oil companies.

The Golden Age of Hedge Funds

How many of the hedge funds out there are actually worth investing in? Ben Carlson, CFA, explores the question.

Top 10 Posts from 2016: How to Read Financial News, Active Investing

The end of the year is a good time to look back and take stock. What Enterprising Investor articles did readers find most compelling in 2016? The results are illuminating. Our top content runs the gamut from the granular — tightly focused, practice-oriented material on starting a firm and what to read to stay informed — to more "big picture" analysis on negative interest rates and the ongoing active vs. passive debate. Taken together, they reflect the currents at work in the investment management profession at both the system-wide and individualized levels.

Human Rights Issues and Your Portfolio: The Risks and Opportunities

So what are the risks and opportunities associated with integrating or failing to integrate human rights issues into asset allocation considerations? Anjali Pradhan, CFA, explores the issue.

Soros, Fallibility, Reflexivity, and the Importance of Adapting

Eternal market truths are hard to find and difficult for us fallible humans to understand, says Tadas Viskanta. He recommends getting reacquainted with George Soros's theory of reflexivity.

Book Review: Hedge Fund Investing

This introduction to hedge funds is also an instructive work of financial history. It discusses hedge funds in relation to other assets and describes specific hedge fund strategies in detail. It also delves into the nitty-gritty of hedge fund operations. Practical rather than theoretical, the book contains worked examples. And a companion website provides practice questions and guideline answers.



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