Practical analysis for investment professionals

Equity Investments


Is Investment Expense a Proxy for Good Governance?

Americans are a cost-conscious lot. We all like a good deal. And that's become especially clear when it comes to investing. In almost every governance survey of asset owners, investment expenses have emerged as one of the top three concerns.

When Does Volatility Equal Risk?

The right question isn't whether volatility equals risk, says Gary Mishuris, CFA. Rather, the right question to ask is: When does volatility equal risk?

Investing in Small-Cap Biotech through Hedge Funds

After analyzing small-cap biotech data from 2007 on, Akash Goyal has found that higher hedge fund ownership is positively correlated with forward returns and that stocks with higher short interest are correlated with negative forward returns.

Top Five Articles from September: The Value Factor, Non-Retirement, Finance and Civilization

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.

Weekend Reads from India: Bharat 22, ETFs, and Maginot Lines

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.

In Practice Summary: Value Investing — Do Quant Strategies Measure Up?

In the latest edition of the In Practice series, Mark Harrison, CFA, and Phil Davis summarize recent research into whether buying US equities that are underpriced based on simple fundamental-to-price ratios yields better performance than investing in broad market indexes.

There Is Value in the Value Factor

Interest in "factor investing" reached an all-time high in May, according to Google Trends. So Nicolas Rabener and his associates analyzed factor valuations using fundamental metrics and contrasted these current valuations with historical averages as a method to determine factor attractiveness.

Weekend Reads for Investors: Highly Caffeinated Edition

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.

Top Five Articles from August: The Market in Wartime, Sam Zell, Fund Names

Leading posts from August include Preston McSwain's call for more honest and accurate fee disclosures and performance reporting; an examination of Sam Zell's take on the economy by Julie Hammond, CFA; tips on how to ace job interviews by Julia VanDeren; Will Ortel's exploration of what's in a hedge fund name; and an analysis of capital markets during times of war by Mark Armbruster, CFA.

Do Index Fund Portfolios Live Up to Expectations?

Are investors expecting more than index funds can deliver?



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