"We don't pay enough attention to the big obvious problems that are in front of us," says Michele Wucker, the author who coined the term gray rhino. Investors should learn to identify four kinds of gray rhinos: charging, recurring, meta, and unidentified, she explains in an interview with Nathan Jaye, CFA. Each type can require different solutions.
Richard H. Thaler, the US economist who elevated the word “nudge” from transitive verb to political catchphrase, can now add “Nobel laureate” to his impressive biography. Lauren Foster discusses Thaler's contributions to the field of economics.
A defense of modern portfolio theory (MPT) by Nathan Erickson, CFA, CAIA, and Richard Stott; Nicolas Rabener's analysis of the value of factor investing; and an examination of the non-retirement phenomenon by Barbara Stewart, CFA, were among the leading posts from last month.
Passive investing in India, us vs. them behavioral traps, and the dangers of market timing are among the topics covered in the latest Weekend Reads from India, curated by Shreenivas Kunte, CFA.
C. Thomas Howard and Jason Voss, CFA, have called for the demise of modern portfolio theory (MPT) and the capital asset pricing model (CAPM). They say “financial markets should be viewed and analyzed using a behavioral lens.” Nathan Erickson, CFA, CAIA, and Richard Stott have a different opinion.
William Birdthistle provides a witty description of mutual fund design and categorizes its imperfections entertainingly, offering more palatable alternatives. This slender volume is a welcome addition to the library of the professional and retail investor alike.
Jason Voss, CFA, provides his choices for Weekend Reads for Investors. This edition features surprising facts about coffee consumption, global choke points in the food supply, graphics showing how cryptocurrencies are likely to affect finance, and more.
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