Concerned About Market Concentration and Lofty Valuations? Consider Small Caps
If you are wringing your hands over large-cap stocks due to high market concentration and lofty valuations, allocating to small-cap stocks may give you some peace of mind. Beyond concentration…
What Is Systems Thinking? A Primer with Applications for Sustainable Investing
Dynamic and “emergent” complex systems.1 can be found everywhere from ecosystems to economies to our underlying biology. By striving to understand the way these systems work, we can make sense…
We’re On The Move – Ruth Crilly
If you subscribe to my blog posts by email then you might notice something slightly different about the next one, arriving tomorrow: it’s being sent by a new provider. There’s…
Book Review: My Value Creation Journey
My Value Creation Journey: An Autobiography of My Work. Bartley J. Madden. 2023. Bartley J. Madden Foundation. My Value Creation Journey, by Bartley J. Madden, is a unique book that…
Private Markets’ Governance: A New Era
Private markets’ meteoric growth since the Global Financial Crisis has attracted the attention of regulators around the world, some of whom have reacted with urgency. Interestingly, the US courts recently…
The Interplay Between Cap Rates and Interest Rates
The relationship between capitalization rates (cap rates) and interest rates is more nuanced than first meets the eye. Understanding their interplay is a cornerstone of real estate investment analysis. In…
Still Misperceived? A Fresh Look at Bitcoin Volatility
Perception does not always match reality. We suspected this may be the case when it comes to the widely held belief that Bitcoin is considerably more volatile than other asset…
FX Bubbles: Through the Lens of Shiller and Sornette
It is widely understood that psychological factors such as perceptions and herd mentality can significantly influence stock market dynamics and precipitate speculative bubbles and abrupt market corrections. Less appreciated is…
Book Review: A Wealth of Well-Being
A Wealth of Well-Being: A Holistic Approach to Behavioral Finance. 2024. Meir Statman. John Wiley & Sons. In A Wealth of Well-Being, Meir Statman, the Glenn Klimek Professor of Finance…
What’s Your Client’s Optimal Equity Allocation?
Investment advisors may be overestimating the risk of equities for longer-term investors. We analyzed stock market returns for 15 different countries from 1870 to 2020 and found that optimal equity…
