active management
When it comes to the choice between active and passive, investors have at least three questions to consider.
Why have star fund managers, like .400 hitters in baseball, become such rarities?
Could activism be the answer for active fund managers?
Is active management's decade-long losing streak to passive management due to high fees, a lack of manager skill, or something else?
Isn’t it worthwhile to understand that while a manager’s monthly excess returns may be volatile, their excess returns across five-year time periods are relatively smooth?
The introduction of the Skill Ratio by Daniel Blais, CFA; Brodie Gay's examination of how inflation is underreported; and an exploration by Ziad Abou Gergi, CFA, of the manager-selection process, are among the top posts from March.
Daniel Blais, CFA, introduces a new metric to help identify and differentiate those investment managers who achieve alpha through skill and those who generate it by luck.
Cheap exchange-traded funds (ETFs) and smart beta products are no substitutes for active management, says Ziad Abou Gergi, CFA. But the manager-selection industry needs to adapt to the changing environment and investors' price sensitivity.
European active managers look suspiciously expensive in comparison to their passive counterparts and are reflexively trying to justify or modify their prices. Chris Chancellor, CFA, explores some of their innovative new pricing strategies.
Risk intelligence, the importance of meditation for investment pros, and dynamical dark energy are just some of the topics covered in this week's Weekend Reads for Investors, curated by Jason Voss, CFA.