Practical analysis for investment professionals

Portfolio Management Techniques


How Do Cryptocurrencies Correlate with Traditional Asset Classes?

The crypto market’s recent gyrations necessitate a fresh look at the evolving relationships between crypto and traditional asset classes.

Bonds and Fixed Income: Where’s the Hedge?

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

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.

Outperformance Ain’t Alpha

Outperformance and alpha are not exactly the same thing. So, how do we explain the difference?

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.