In a post on the CFA Institute’s Enterprising Investor blog, Joachim Klement of the CFA Institute Research Foundation highlights research suggesting that “one can improve the results of traditional momentum…
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Valuations have One Top Manager Sitting on Lots of Cash
Hamish Douglass, manager of the Magellan Global Equity Fund, is holding over 15% of the fund’s $5.4 billion in cash, Financial Advisor reports. The fund beat 99% of its competitors…
Top Economist Ed Hyman Says Recession is a Long Way Off
Advisor Perspectives reports on Ed Hyman’s presentation at the 2016 MIT Sloan Investment Conference, where he said that despite signs of weakness, the next U.S. recession is probably five or…
Rob Arnott of Research Affiliates Says a “Smart-Beta Crash” is “Reasonably Likely”
MarketWatch reports that Rob Arnott, chairman of Research Affiliates, says that smart beta has now become so popular that it is dangerous. Arnott, whose research helped to fuel interest in…
Stodgy Dividend Payers On Top So Far in 2016
The Wall Street Journal reports on investors’ recent moves toward high-dividend stocks. Stocks in the S&P High Yield Dividend Aristocrats Index (which have increased their dividends every year for at…
The Cash Returned On Capital Investment (Croci) Approach to Value Investing
Financial Times reports on the “Croci” approach to value investing, as employed by Deutsche Bank. Croci stands for “cash returned on capital investment.” It is an approach that seeks to…
Rekenthaler: 3 Options for Outperformance
John Rekenthaler of Morningstar asks “what are the possible paths to outperformance?” and comes up with three options. Find the “market’s dummies”: First, he says, there is the “traditional approach”…
AQR's Asness on Fama, Momentum Investing and More
Clifford Asness, Managing and Founding Principle of AQR, writes in his “Cliff’s Perspective” blog about Nobel Laureate and Professor Eugene Fama’s views on momentum investing. Asness is a believer in…
Morningstar Study: Long-term Outperformance Not Predictive of Future Outperformance
The AAII Journal reports on a recent Moringstar study that found no link between long-term performance and future performance. The study (which is available here), as AAII Journal reports, “looked…
Hulbert: Market Likely to Rise Significantly Following Recent Drop
Mark Hulbert writes in MarketWatch that “the U.S. stock market over the next six months is more likely to be notably higher than it is to drop further.” He bases…