The capital asset pricing model (CAPM) is a marvel of economic scholarship. The problem is that it doesn’t always work in practice. So, we fixed it.
What articles most resonated with readers in 2021? Aswath Damodaran on the COVID crucible, career tips from Eric Sim, CFA, and more.
The leading Enterprising Investor articles from 2019 feature insights from some of the top luminaries in all of finance.
In four parts, author Yefei Lu covers specific cases from Warren Buffett’s career. Lu digs through old annual reports, Moody’s Investors Service manuals, and partnership letters to provide the reader with the key data points and metrics that Buffett would have seen when he first researched the 20 businesses. This kind of valuation work should be of great interest to equity analysts and value-minded portfolio managers.
Warren Buffett and Protégé Partners entered into a 10-year bet on whether an index fund would outperform a portfolio of hedge funds. With two years remaining, Buffett leads by a wide margin. So what does that mean for the active vs. passive debate?