Practical analysis for investment professionals

equities


Conservatism: De-Risking the Profitability Factor

By combining Profitability and Conservatism, we can reduce a portfolio's downside risk and enhance its risk-adjusted returns over the long run.

Bonds and Fixed Income: Where’s the Hedge?

When have fixed-income assets actually done what portfolio managers and investors expect them to do?

Growth, Value, and Skewness: Are Growth Stocks a Lottery-Like Bet?

How does skewness in returns relate to other factors in asset pricing?

Equity Risk Premium Forum: The Stock/Bond Correlation Switch-Up

"Has the hedge property overtaken the investment property of fixed-income assets?"

Book Review: The Case for Long-Term Value Investing

Jim Cullen presents the value strategy and explains how to apply it in any type of market.

Equity Risk Premium Forum: Gloom Looms?

“How many here think the next 10-year equity returns are going to be below the long-run average? I certainly do. Is there anyone here who doesn’t?”

Fundamental Value Revisited? Three Investing Tips for “Absolutely Crazy” Conditions

What do we do in an environment where fundamentals begin to take a backseat to public policy?

Equity Risk Premium Forum: Term Structure, Mean Reversion, and CAPE Reconsidered

Does the equity risk premium (ERP) vary depending on the term structure? Does reversion to the mean dictate that it will decrease the longer the time horizon?

Digital Gold or Fool’s Gold: Is Crypto Really a Hedge against Equity Risk?

When it comes to hedging equity risk, bitcoin and cryptocurrencies are less "digital gold" and more fool's gold.

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.