Practical analysis for investment professionals

FAJ Author Interviews


There’s Alpha in Your (Right) Brain

Modern investing is a numbers game, an analysis game, an equations and computers and data game. And so when CNBC reports that alpha is at a three-decade low, it… READ MORE ›

Clarifying Fama and French

Steven Thorley, CFA, and his coauthors Roger Clarke and Harindra de Silva, CFA, didn’t start out to write an article about the Fama–French three-factor model.

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.

Interview: Charley Ellis, CFA, Speaks Out about Active Management (Podcast)

“The Rise and Fall of Performance Investing,” a recent article by Charles D. Ellis, CFA, in the Financial Analysts Journal, has sparked a lot of chatter in the financial press.

Junior Equity Market Regulation in Canada and around the World (Podcast)

Market regulation is a hot-button topic at the best of times, and the economic effects of specific regulations are very rarely completely understood. J. Ari Pandes and Michael J. Robinson, CFA, looked into market regulation for an article in the July/August 2014 issue of the Financial Analysts Journal.

What Is the Role of Merit in a Mutual Fund Manager’s Career? (Podcast)

Merit plays a substantial role in the length of a mutual fund manager’s career. Notably, managers who underperform their peers are more likely to lose their jobs.

Why You Don’t Have to Take Large Industry Bets (Podcast)

Recent research finds that significant positive risk-adjusted returns are produced by the application of a “betting against beta” (BAB) model.

Marty Fridson Deflates the High-Yield Bond Balloon (Podcast)

Over time, the annualized return of a duration-targeting, investment-grade corporate bond portfolio will nearly match its initial yield. A high-yield bond portfolio’s performance is not similarly predictable, according to Martin Fridson, CFA.

Should Banks Make Funding Value Adjustments? (Podcast)

Since the 2008 financial crisis, the derivatives industry has been embroiled in a controversy over whether to make funding value adjustments. John Hull and Alan White explore this controversy in their article, “Valuing Derivatives: Funding Value Adjustments and Fair Value.”



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