Regret and Optimal Portfolio Allocations
How is risk defined in portfolio optimization objective functions? Usually with a volatility metric, and often one that places a particular emphasis on downside risk, or losing money. But that…
ChatGPT and Generative AI: What They Mean for Investment Professionals
For more on artificial intelligence (AI) applications in investment management, read The Handbook of Artificial Intelligence and Big Data Applications in Investments, by Larry Cao, CFA, from CFA Institute Research Foundation. ChatGPT…
The 10 Greatest US Investors and the Virtues That Made Them
“There can be few fields of human endeavor in which history counts for so little as in the world of finance. Past experience, to the extent that it is part…
Book Review: The Little Book of Picking Top Stocks
The Little Book of Picking Top Stocks: How to Spot the Hidden Gems. 2023. Martin S. Fridson, CFA. John Wiley & Sons, Inc. Editor’s note: In order to keep our…
ChatGPT: Copilot Today, Autopilot Tomorrow?
For more on artificial intelligence (AI) applications in investment management, read The Handbook of Artificial Intelligence and Big Data Applications in Investments, by Larry Cao, CFA, from CFA Institute Research Foundation.…
Partnering for Impact: Institutional Investors and the Net-Zero Transition
Brian Minns, CFA, will speak at the Climate Risk and Returns Conference from CFA Institute, held 20–21 April 2023 in New York City. Partnerships among institutional investors are crucial to…
Do the Best Equity Fund Managers Follow the Bond Market?
There is an old adage on Wall Street: To succeed as an equity fund manager, follow interest rates and the bond markets. We decided to put that theory to the…
Book Review: A History of Financial Technology and Regulation
A History of Financial Technology and Regulation: From American Incorporation to Cryptocurrency and Crowdfunding. 2022. Seth C. Oranburg. Cambridge University Press. In A History of Financial Technology and Regulation: From…
Is the 60/40 Portfolio Still Relevant?
How have different portfolio allocations performed throughout the world? Amid recent market turbulence, the worst year ever for US bonds, persistent inflation, and the looming threat of slower growth or…
Rethinking Retirement Planning Outcome Metrics
The following is based on “Redefining the Optimal Retirement Income Strategy,” from the Financial Analysts Journal. Retirement, like life, is fundamentally uncertain. That’s why we need to provide clients with more…
