Mark Harrison, CFA, looks at combining factors in multifactor portfolios and considers issues of performance measurement in factor investing, in the third installment of his Shortcuts to Factor Investing series.
In the latest installment of his Shortcuts to Factor Investing series, Mark Harrison, CFA, takes a deeper dive into equities and factor investing's wider applications to other asset classes, including fixed income.
Julia VanDeren shares some insights on giving presentations and writing cover letters; Ben Carlson, CFA, discusses how to determine which hedge funds to invest in; Mark Harrison, CFA, curates the best content on smart beta and factor investing; and C. Thomas Howard and Jason Voss, CFA, offer some advice on how to revive active equity, in the top Enterprising Investor Posts from March.
If investors have the option to cheaply replicate their desired exposures to help solve their portfolio problems, then why shouldn't they? Mark Harrison, CFA, curates the latest insights on what is meant by smart beta and factor investing and how they differ.
An analysis of long-term returns by Michael Batnick, CFA, and the first installment in the Dumb Alpha series by Joachim, Klement, CFA, were among the top posts from last month.
Modern finance constantly busies itself with the development of new, more sophisticated ways to manage risk and generate returns. These efforts, however, generate their own risks. On the opposite end of the spectrum are simple ways to invest that have a proven track record of providing superior investment outcomes.
One asset class that has historically thrived in chaotic and crisis environments is managed futures, says Jeannette Showalter, CFA. Might they be the answer for investors looking to hedge against volatile equity markets and a potential secular bear market for bonds?
Although the author’s argument heralding the demise of modern portfolio theory (MPT) seems weak, he offers a compelling argument for active management. Using exchange-traded funds (ETFs) and asset rotation, he demonstrates how to achieve a return superior to that of a passively managed fund that relies on MPT and index funds. Asset Rotation may well be a harbinger of an “investment renaissance” and the end of passive management.
Top articles from March include an exploration of the risks and rewards of retirement, Nouriel Roubini's take on the unconventional monetary policies adopted in the wake of the Great Recession, and several entries by Larry Cao, CFA, from his series on multi-asset strategies.
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