Practical analysis for investment professionals

Take 15


Top Five Articles from June: Brexit, Damodaran, and Dumb Alpha

Standout stories from the last month include the latest entry in the Alpha Wounds series by Jason Voss, CFA, in which he analyzes the lack of independent judgment among active managers; Matthew Borin's examination of the recent Brexit vote and its fallout; and Ron Surz's piece explaining how successful advisers are like successful waiters.

Josh Brown on the Fiduciary Standard and Fintech

"Investors should understand what they’re invested in. There should be zero conflict," says Josh Brown, CEO of Ritholtz Wealth Management.

Aswath Damodaran on How to Invest Internationally

Aswath Damodaran believes investors make two common valuation errors when it comes to country risk exposure: They focus on countries instead of companies and obsess over past mistakes.

The End of Western Geopolitical Hegemony?

While US hegemony has long been the norm, large-scale geopolitical changes are afoot that may alter the playing field when it comes to financial matters, says Philippa Malmgren.

A Whistleblower’s Role in Today’s World

Michael Woodford, former president and CEO of Olympus Corporation, was controversially fired after revealing widespread company fraud. Woodford recounts his experience and discusses the role and perception of whistleblowers today.

Estimating Variations in the Equity Risk Premium: A New Approach

For years, researchers have used historical returns as proxies for estimating equity risk premium. This approach is problematic, however, because the resulting estimates don't vary from one year to the next, even though equity market returns can be wildly divergent from year to year. Katsunari Yamaguchi, CFA, has developed a new method for estimating equity premiums.

Decision Making and Counterintuition in Investing

Investing is more than just a numbers game. Michael J. Mauboussin discusses the psychological and behavioral elements of investing, and why cognitive diversity is essential for your team’s success.

Lessons from the Financial Crisis

Former chair of the Federal Depositors Insurance Corporation (FDIC) Sheila C. Bair provides insight on the financial crisis and discusses how the system can be made more stable in a Take 15 interview.

Family Dynamics and the Advisory Process

Lisa Gray, founder and managing member of Graymatter Strategies, discusses the importance of incorporating family dynamics into the advisory process.

The Importance of Meditation for Investment Professionals

Ng Kok Song, former group chief investment officer of the Government of Singapore Investment Corporation (GIC), and Jason Voss, CFA, discuss an increasingly meaningful tool in the investment toolkit: meditation.



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