Practical analysis for investment professionals

Portfolio Management Techniques


Building a CAPM That Works: What It Means for Today’s Markets

The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.

Book Review: In Pursuit of the Perfect Portfolio

Andrew Lo and Stephen Foerster offer a checklist of seven principles by which investors can construct their own “perfect portfolios.”

Bridging the Fundamental–Quant Divide

Where is the common ground between quant and fundamental investing?

On Investment Objectives and Risks, Clear Communication Is Key, Part 3

Portfolio Pi and Portfolio Eta are new decision metrics that connect investment objectives and risks.

Tactical Asset Allocation: The Flexibility Advantage

The end of the loose money era may offer an opportunity for tactical asset allocation.

On Investment Objectives and Risks, Clear Communication Is Key, Part 2

Standard deviation fails to characterize risk in a way that matters to most investors.

Are Reindeer Good Stock Pickers?

Beating a passive benchmark is hard. And that's true for both reindeer and people.

On Investment Objectives and Risks, Clear Communication Is Key, Part 1

Identifying investment objectives and achieving stakeholder buy-in is the critical first step in connecting these objectives to portfolio construction.

The Mirage of Direct Indexing

Direct indexing seems like a free lunch that is too good to pass on. But is it?

Book Review: Beyond Diversification

The range of tools that Sébastien Page, CFA, sets out in this book can help investors make better decisions.