Sloane Ortel and Thomas Brigandi's examination of the seven asset owner organizations shaping the market and a review of Richard Bookstaber's The End of Theory by Robert N. Farago, ASIP, are among the leading Enterprising Investor posts from February.
The water crisis in Cape Town, South Africa, demonstrates that carbon emissions and climate change are not the only sustainability threats, says Monika Freyman, CFA. Water concerns already affect investors' bottom lines as well as future risks to their top lines.
Ben Graham, the father of modern value investing, introduced his Mr. Market analogy back in 1949. Nearly 70 years later, investors are still trying to anticipate Mr. Market's moods. Moshik Kovarsky and Paul Kovarsky, CFA, (no relation) think the Fundamental Momentum strategy can help.
Tomáš Sedlácek moves beyond mere criticism to propose that accepting the sociological roots of economics can improve its practice. That is, once we acknowledge the underlying values hidden in economics, then smarter decisions may be made.
Geopolitical expert Peter Zeihan foresees simultaneous political crises that will erode local state authorities, unleashing violence and terrorism. Capital flight, driven by geopolitical concerns, will surely follow. “The result is a world that will fragment," he said. "The result is a breakdown in global trade.”
A seemingly endless battle is waged between believers in the efficient market hypothesis, such as Eugene Fama, and believers in behavioral finance, such as Daniel Kahneman. Regardless of your perspective, an analysis of the S&P 500’s history of sigma events provides an interesting field for the battle to be waged.
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