2023 US Wealth Management Outlook: Tax Planning and Wealth Preservation
After a down year for financial markets, investors’ priorities have naturally shifted from growing their assets to preserving their wealth. While risk management may be the key component of wealth…
Can Argentina Recover? Emerging Market Lessons
With its riveting victory over France in the World Cup finals and the heroics of its all-time great team captain Lionel Messi, Argentina has good reason to celebrate. But as…
Short Squeezes: A Four-Factor Model
Anticipating and riding short squeezes has grown in popularity as an investment tactic in recent years. The GameStop short squeeze, galvanized by motivated retail investors on internet message boards, is…
Have Central Bank Interventions Repriced Corporate Credit? Part 2
Read the complete three-part series. The European Central Bank (ECB) began buying corporate debt as part of its corporate sector purchase programme (CSPP) in 2016. Given its clear and unambiguous…
The Yen’s Downside Risk Persists Despite BOJ Shift
The Bank of Japan (BOJ) widens the 10-year yield trading range. The BOJ announced its latest yield curve control (YCC) change on 19 December, raising the 10-year yield cap from…
Diversity and Investment Performance: What Trade-Off?
Is there a trade-off between diversity and investment performance? It’s a common question with a definitive answer: No That’s my conclusion after conducting an extensive review of the literature on…
Top 10 Posts from 2022: Fama and French, Damodaran, the Equity Risk Premium
1. Fama and French: The Five-Factor Model Revisited How well has Eugene F. Fama and Kenneth R. French’s five-factor model explained returns? Derek Horstmeyer, Ying Liu, and Amber Wilkins share…
ESG (In)Efficiency | CFA Institute Enterprising Investor
Passive environmental, social, and governance (ESG) investing has become increasingly active. It’s time for a rethink. Assets have poured into passive ESG indexes in recent years. As more investors look…
The Six Stages of Asset Bubbles: The Crypto Crash
“At some point in the growth of a boom all aspects of property ownership become irrelevant except the prospect of an early rise in price.” — John Kenneth Galbraith Countless…
Evaluating Benchmark Misfit Risk | CFA Institute Enterprising Investor
This article is adapted from a version originally published in the fall issue of The Journal of Performance Measurement®. Overview Investment management is a three-part process: Set goals for risk and…
