Practical analysis for investment professionals

Performance Measurement & Evaluation


Portfolio Evaluation: Benchmarking for Success

Can portfolio evaluation be done in a way that helps investment managers succeed? For the latest installment in his multi-asset strategy series, Larry Cao, CFA, posed this question to some of the smartest institutional investors around. Here's what they had to say.

The Only Equities Most Investors Should Buy

The only equity exposure most investors should have is in the cheapest, broadest, most tax-efficient index tracker of aggregate world equity markets they can find.

The Importance of Purpose for Driving Long-Term Corporate Value

Companies may better serve society by bringing corporate purpose, as expressed in authentic branding and mission statements, into alignment with business actions.

Who Protects You from Losses?

Gains and losses are the product of human behavior, driven by greed, fear, and sloppiness, with an accelerator of leverage thrown in to shorten the terminal period. This is the way it has always been and probably always will be.

Stick to the FACTS: A Framework for Evaluating Investments

Looking for a framework for determining investment strategy selection and assessment? Choosing your investment opportunities simply comes down to the FACTS.

Undervalued Posts from the Financial Blogosphere: Second-Order Thinking

Writers (and readers), especially in the age of increasingly short attention spans, want findings served up in bite-size chunks that are easily digestible. There is room in our media diet for some of that. In this edition of Undervalued Posts from the Financial Blogosphere, I want to highlight posts that take the opposite tack.

Book Review: The Lunacy of Modern Finance Theory and Regulation

The author identifies some interesting conundrums related to financial theory and lodges a number of valid criticisms of financial industry practices. He also criticizes existing laws and rules because they did not prevent the global financial crisis of 2008–2009.

A Cycle of Flows, Price Pressure, and Hedge Fund Returns (Podcast)

The enormous growth in hedge fund assets began in the late 1990s and has continued up to the present. At the same time, academic research has focused on the flow-driven price impacts on financial assets but has not focused on burgeoning hedge fund assets. Katja Ahoniemi and coauthor Petri Jylhä seek to correct that oversight with their recent Financial Analysts Journal article, “Flows, Price Pressure, and Hedge Fund Returns.

Exploring the Determinants of Levered Portfolio Performance (Podcast)

Over the past two years, two teams of Financial Analysts Journal authors have been exchanging ideas through a series of articles and letters published in the FAJ.

Two Questions I Am Asking to Survive This Market

With markets exhibiting notable volatility, I would urge all enterprising investors to focus on two important questions that may lead to greater understanding.



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