Practical analysis for investment professionals

Performance Measurement & Evaluation


Book Review: The Price of Time

Almost unique among serious finance books, Edward Chancellor’s The Price of Time serves well as bedtime reading.

Asset Owner Perspectives: Building Investment Organizations Fit for the Future

How are asset owners thinking about and building their multi-generational, long-horizon portfolios?

The Equity Advantage: Reinvestment of Earnings

Equities can compound in value in a way that investments in bonds, real estate, and other asset classes cannot.

The Private Capital Wealth Equation, Part 2: The Economics Variable

The performance of alternative asset managers is encapsulated in the formula: Wealth = Controls + Economics. Here, we outline the economics component of the equation.

How Sharp Is the Sharpe Ratio? An Analysis of Global Stock Indices

To test the Sharpe Ratio’s effectiveness, we constructed monthly return distributions for global stock market indices to see if any had too much skewness.

Extremely Successful? Extremely Lucky!

What's more critical to investing success: luck or skill?

Renewable Energy Funds: Through a Gender Lens

As ESG investing continues to grow, applying a gender lens to public equity funds focused on climate solutions is critical.

Tell Me a Story: Aswath Damodaran on Valuing Young Companies

When valuing companies, "You don't have to be right to make money," Aswath Damodaran says. "You just have to be less wrong than everybody else.”

Building a CAPM That Works: What It Means for Today’s Markets

The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.

Why Invest in Stocks?

Equities are not necessarily more risky than such "safe" assets as US Treasuries. 



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