Portfolio Management

962 Posts

A Paean to The Epicurean Dealmaker

The Epicurean Dealmaker ran during a financially tumultuous period from early 2007 to around April 2015, when its pseudonymous investment banker author appeared to have signed off for the last time. Is a treasure of erudition, wit, recalcitrance, irreverence, and self-deprecation, writes Marc Ross, CFA. Read more

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The Active Equity Renaissance: New Frontiers of Risk

One modern portfolio theory (MPT) pillar that is unquestionably broken is the use of volatility, specifically standard deviation, as a measure of risk, Jason Voss, CFA, and C. Thomas Howard write in the latest edition of The Active Equity Renaissance series. This initial error in MPT’s development is a major contributor to active investment management underperformance. Read more

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Keep ETFs Weird

Keep ETFs Weird

The ETF has been at the forefront of three major investment phenomena over the past two decades, and as a result has had a positive effect on the investment world, says Tadas Viskanta. The beauty of the ETF industry is its embrace of new ideas and strategies. Tamping down on that would only serve to make the investment world a less interesting place. So let’s “Keep ETFs Weird.” Read more

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Weekend Reads from India: Behavioral SIPs, Black Swans, Plagiarism

Weekend Reads from India: Dollar-Cost Averaging, Black Swans, Plagiarism

What we think we know can be deceptive. For example, try to remember the exact contents of one of your bookshelves, or draw a picture of a bicycle and include the details: the seat, the chain, and the pedals. Unless you’ve practiced or have good reason to remember, these seemingly simple requests can be anything but easy. So it is understandable if you don’t grasp the touch points behind dollar-cost averaging (DCA) in investing. Read more

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