Practical analysis for investment professionals

equities


Mike Tang, CFA, CPA, on Spin-Off Listings in Hong Kong SAR

What's the appeal of spin-offs in general and in Mainland China and Hong Kong SAR, in particular? KPMG partner Mike Tang, CFA, CPA, shares his insights.

A More Robust Macro Risk Targeting Strategy for Equities

"It is possible to construct equity portfolios that possess out of sample exposure that facilitate more precise targeting of levels of macroeconomic risk exposure."

Decoupling Correlations: Global Markets since COVID-19

An examination of global stock market indices since 2015 reveals one clear takeaway: Every single index's average correlation with all other indices has fallen.

Can Investor Activism Boost Small-Cap Stock Performance?

In the Financial Analysts Journal, Emmanuel R. Pezier and Paolo F. Volpin analyze a private dataset of a UK fund’s engagements with small-cap newly public firms and demonstrate that “behind-the-scenes” engagements resulted in 8% to 10% in cumulative abnormal returns.

Research and Policy Center Five Most Popular Articles of 2023: Capital Markets

What are the most popular top five articles of 2023 published under the Capital Markets theme by the CFA Institute Research and Policy Center?

Trick or Treat? Bobbing for Multibaggers in the Small-Cap Market

Small-cap investing is a “negative art.” But in addition to steering clear of losers, small-cap investors have to demonstrate the “positive art” of picking winners.

Harvesting Equity Premia in Emerging Markets: A Four-Step Process

There is hope for investors seeking a robust emerging market equity strategy to complement their other equity investments.

Portfolio Confidential: Five Common Client Concerns

What are the five most common client concerns and how can we address them?

Small Caps: Party Like It’s 2000?

The legendary musician Prince exhorted us to “Party like it’s 1999,” but today, as a small-cap stock investor, I’d flip the calendar one year ahead, to 2000.

Book Review: The Economics of the Stock Market

Now, more than ever, we urgently need a comprehensive alternative to the neoclassical model of stock market behavior. Andrew Smithers attempts to fill in this gap.



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