Practical analysis for investment professionals

stocks


To Invest Internationally, or Not — That Is the Question

We should lean toward investing in all of the world all of the time.

Improving the Odds of Value Investing

So what is the value factor's key performance driver? Based on what evidence?

Building Optimized Portfolios with JPMorgan’s 2021 Forecasts

Even as equity markets set all-time highs and bond yields near generational lows, it is still possible to build resilient portfolios with reasonable return expectations.

Refreshing Revenue, the Cash Conversion Cycle, and Free Cash Flow

GAAP sometimes misrepresents business reality. We can use that fact to generate some alpha.

Trading at All Hours: The Portfolio Implications

All the day trading by the new class of retail investors has not helped the long-only crowd.

Myth-Busting: Earnings Don’t Matter Much for Stock Returns

The relationship between earnings and equity returns is more illusion than reality.

Moats or Market Power?

Instead of searching for firms with moats, we should be looking for those with market power.

Jon Stein, CFA, on GameStop and the Market’s Trust Crisis

Betterment founder Jon Stein, CFA, shares his perspective on the GameStop fiasco.