Practical analysis for investment professionals

S&P 500

If an Investment Strategy Looks Too Good to Be True, Look under the Hood

How could a portfolio invested 51% in the S&P 500 Index yield the same returns as one that's 100% invested?

Top Five Articles from August: The Market in Wartime, Sam Zell, Fund Names

Leading posts from August include Preston McSwain's call for more honest and accurate fee disclosures and performance reporting; an examination of Sam Zell's take on the economy by Julie Hammond, CFA; tips on how to ace job interviews by Julia VanDeren; Will Ortel's exploration of what's in a hedge fund name; and an analysis of capital markets during times of war by Mark Armbruster, CFA.

Ignoring Fees Doesn’t Beat the Market

A large asset manager has claimed their funds beat the S&P 500 93% of the time. Unfortunately, that's only true without accounting for fees. Preston McSwain explores what to learn from this exercise.

Bearish on a Bull Market: Central Banks and the S&P 500

What explains the recent surge in the S&P 500 index? We asked CFA Institute Financial NewsBrief readers what they thought was responsible for the strong performance.

Alpha Wounds: Passive Management Is Not Passive

Passive investing is not actually passive. When looked at this way, it means there are important lessons for active investors. Examples include the hidden story behind market capitalization and the importance of low turnover. This also opens passive investing up to criticism regarding the free passes given to it in terms of risk, cost, and momentum.

Making Sense of Long-Term Returns

All advisers face the same challenge: How can we best help investors understand what sort of long-term returns they can rationally expect?

Poll: What Are Your Expectations for the S&P 500 Over the Next 12 Months?

In terms of duration and magnitude, today’s bull market is longer and larger than the average. It is tempting to assume that this bull market has run its course, but the historical record demonstrates otherwise.

Two Questions I Am Asking to Survive This Market

With markets exhibiting notable volatility, I would urge all enterprising investors to focus on two important questions that may lead to greater understanding.

Successful Investing Is Not a Ranking

Investing is both an art form and a competitive sport. The art form attempts to use, within constraints, creativity to produce periodic investment results. The competitive sport comes in when you start to compare how well a fund does versus others that are operating under the same or similar constraints.

Is the S&P 500 Mean Reverting? Rescaled Range Analysis Provides the Answer

This post uses long time scales of the S&P 500 as a test case for discussing the major tenets of rescaled range analysis, a favorite technique of fractal market analysis, chaos theoreticians, and some technical analysts.

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