Norb Vonnegut culls three lessons from HBO's recent Bernie Madoff biopic. Taken together, they serve as a renewed prompt for investors to consider low-cost index funds. After all, these funds are hardly exclusive. The world is vetting them constantly. So long as investors reinvest dividends and other cash flows back into the funds, the annualized returns are a real measure of investment performance: What you see is what you get. And what’s better than that?
Global macro is as much an exercise in navigating the political economy as it is an alternative investment strategy. Practitioners must recognize its limitations and remember that change is the one constant.
Larry Cao, CFA, discusses Campbell R. Harvey's definition of blockchain; Lauren Foster describes the continuing debate between Robert J. Shiller and Jeremy Siegel; Dougal Williams, CFA, suggests investors focus on shooting par in the investment market; Martin Fridson, CFA, reviews The End of Accounting and the Path Forward for Investors and Managers; and Mimmi Kheddache Jendeby provides some investing lessons from Epictetus, in the top Enterprising Investor posts from June.
The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.
Does environmental, social, and governance (ESG) investing add or subtract value from investment portfolios? According to the findings of a trio of researchers, summarized in the new In Practice series, the answer is neither: Investors can both match index performance while also “doing good” for the environment and society.
A leading analyst and portfolio manager shares her approach to sensible risk taking, which can be applied to anticipating, evaluating, and responding to risks in business, investing, and everyday life.
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Treasury Secretary Steven Mnuchin has told a Senate Appropriations subcommittee that prompt action is needed to raise the debt limit. Debt is being held below a cap of almost $20 trillion by accountancy and cash-management methods, Mnuchin says, but this carries a real cost to taxpayers and creates investor unease. Bloomberg (26 Jul.)
Airbus said second-quarter profit fell 27% as it scaled back production of the A380 superjumbo airliner, which is getting a chilly reception from airlines. The company said it is also suffering from problems with engines it buys from Pratt & Whitney. Bloomberg (27 Jul.)
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