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…
The Nuts and Bolts of Private Commercial Real Estate (CRE) Investing
A CRE Investing Primer Real estate investing means different things to different people. It can be shorthand for buying a rental property — taking out a mortgage, finding a renter, and…
Do ESG Funds Have Higher ESG Scores?
What do investors look for when they buy environmental, social, and governance (ESG) equity index funds? In principle, as in any fund investment decision, it could be higher financial returns,…
Factor Performance: Will the Comeback Persist?
Factors are the primary market drivers of asset-class returns. In the equity realm, only a limited set of rewarded factors are backed by academic consensus: Value, Size, Momentum, Low Volatility,…
The Active Management Delusion: Respect the Wisdom of the Crowd
“My basic point here is that neither the Financial Analysts as a whole nor the investment funds as a whole can expect to ‘beat the market,’ because in a significant…
Debunking the Myth of Market Efficiency
Sixty years after it was first formulated, the core tenet of the efficient market hypothesis (EMH) — that stock prices fully reflect all available information — is still considered gospel…
What ESG News Matters Most to the Market?
The following is derived from the 2022 Scroll Award-winning article “Which Corporate ESG News Does the Market React To?” by George Serafeim and Aaron Yoon, from the Financial Analysts Journal.…
Myth-Busting: The Economy Drives the Stock Market
Introduction Switch on Bloomberg TV or CNBC at any time of the day and there is a good possibility the host will be explaining the daily ups and downs of…
Is the Copper–Gold Ratio a Dependable Leading Indicator on Rates?
The Copper–Gold Ratio and Dollar Effects Institutional asset managers use the copper–gold ratio as one of the 10-year Treasury yield’s leading indicators. Indeed, as the spread between bond yields and…
