Practical analysis for investment professionals

Fixed Income


Where Markets Fail: Markets Are Not Systemic

Markets are usually not systemic. Instead, from the bird’s-eye perspective of "Capitalism," many businesses are "opportunities" in the same way that it feels good to hit yourself in the head with a hammer: It's much better once you stop.

Where Markets Fail: Markets Assume Fungibility

Markets are useful but imperfect, says Jason Voss, CFA. One imperfection is that they assume fungibility. Assuming that a dollar spent on one thing is equivalent to a dollar spent on something else has serious consequences for investors.

Book Review: Financial Crisis, Contagion, and Containment

In a sweeping survey of the financial crises that shook East Asia and other developing countries, the author explores the compatibility of emerging market economies with inherently volatile global financial markets.

Book Review: Too Little, Too Late

The book is a collection of 15 papers on the current challenges in sovereign debt restructuring and alternatives for resolving them. For investment analysts, it is a valuable resource of systematic analysis, insight, and data on an increasingly important topic.

Fundamental Indexing in the Bond Market: An Interview with Lidia Bolla, CFA

Lidia Bolla, CFA, takes the basic model of factor exposure and applies it to the concept of fundamental indexing in the bond market in her new article, "Fundamental Indexing in the Global Bond Markets: The Risk Exposure Explains It All." She discusses her findings in an interview with Ron Rimkus, CFA.

Where Active Management Can Win

Active fund management is alive, thriving, and adding value across trillions of dollars of assets worldwide.

Lessons from CFOs: When Refinancing Makes Sense

A new calculation tool can help determine if it's the right time for clients to refinance. Paul Fennell explains.

Decision Making amid Uncertainty: Six Steps to Improve Your Process

Uncertainty is everywhere. So how do you navigate it? Lauren Foster provides some helpful tips courtesy of Ben Carlson, CFA.

Where Markets Fail: Markets Assume a Context

Markets assume a context entirely out of view of their participants, which can have deleterious effects for both suppliers and demanders, Jason Voss, CFA, observes in the latest installment of his Where Markets Fail series.

The ARS Debacle: The Forgotten Crisis of 2008

Tucked away in the early days of the financial crisis, the auction rate securities (ARS) debacle has been largely relegated to the dim recesses of memory. However, investors and advisers should not downplay its significance.



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