Practical analysis for investment professionals

Investment Philosophy


The Power of Clicks, Likes, and Shares: Promote the Right Kind of Financial Content

Not all financial content creators on social media are created equal. A broad differentiation can be made between influencers, knowledge sharers, and aspiring thought leaders.

Meir Statman: Your State of Mind Influences Your Investing Success

Meir Statman shares his insights on the broader aspects of financial well-being and its interconnection with life satisfaction.

Book Review: Enrich Your Future

This engaging book is simultaneously memorable and humorous. The numerous sports analogies will have you smiling as you absorb Larry Swedroe's unforgettable investment precepts.

The Fitch Downgrade: The Principal–Agent Problem in Modern Finance

Fitch Ratings' US credit downgrade highlights a latent principal–agent problem in modern financial markets: Investors have outsourced much of their risk management to the rating agencies.

Debunking the Myth of Market Efficiency

Market complexity transcends disciplines and cannot be entirely modeled out.

Equity Risk Premium Forum: MMT, Looking Back, Looking Ahead

"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." — Cliff Asness

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

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

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?”

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?

Equity Risk Premium Forum: The Deficient Market Hypothesis

"If we thought of the equity premium as a fear premium," Rob Arnott says, "a lot of the so-called anomalies that we’ve talked about would not be anomalies at all."



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