Practical analysis for investment professionals

stocks


The Active Equity Renaissance: Understanding the Cult of Emotion

“I know you are afraid and you should be afraid. I will invest you in products that will not stir up your fears." This sentiment is applied over and over again in the investment industry in one form or another, by the "Cult of Emotion."

Where Will the S&P 500 Be in a Year?

How high can US equity markets go? For a sense of the S&P 500's direction, we conducted an informal poll of readers of CFA Institute Financial NewsBrief for their perspective on where they see the index a year from now.

Weekend Reads: Populism, Equity Markets, and the Gig Economy

Is there a way to reconcile current market bullishness with the populist wave spreading across the globe? Selections in the latest Weekend Reads tackle this question as well as the future of retail, the gig economy, Red Sox great Ted Williams, and more.

Mitigating Short Exposure: Learning from Others’ Mistakes

There is no road map for short sellers. This leaves them two options: Make their own mistakes, or learn from those who have already made them. Greg Blotnick, CFA, has found the latter approach is far cheaper.

Research Analysts Add Value: Here’s Proof

Post-event analyst forecasts — those made subsequent to recent results or management guidance — are significantly more accurate than management forecasts, reports Jeremy Monk. And if analysts can provide insight into tangible measures of value, then we can presume they are also able to offer insight into other, less tangible measures of value, such as management quality and industry outlook.

Lessons from a Legendary Short Seller

What can the late Robert W. Wilson, one of Wall Street’s master short sellers, teach today's investors?

Health Care Investing: The Promise and the Pitfalls

For Andy Acker, CFA, portfolio manager of the Janus Global Life Sciences Fund, these are especially exciting times for investors in the health care sector. Opportunities abound, as significant advances in understanding the genetic causes of disease have resulted in a surge in new and more effective treatments. At the same time, risks remain and a disciplined approach to stock selection and portfolio construction is imperative for success.

Dumb Alpha: Tactical Errors

If investors want to engage in tactical asset allocation, what would be the Dumb Alpha method of doing so? Joachim Klement, CFA, provides his advice.

Dumb Alpha: Do the Right Thing

One of the symptoms of middle age is that you start to give advice to younger people on what your experience has taught you about life. So Joachim Klement, CFA, puts his imaginary pipe into his mouth, adjusts his glasses, and explains why keeping it simple might be the most important "dumb alpha" lesson he has learned in his investing career.

Selecting Small- and Mid-Cap International Value Equities

Jonathan Moog, CFA, and the Lizard Investors team concentrate on the international small- to mid-cap space because they believe there are inefficiencies in that market.



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