Although value stocks have lagged for a long time, an article by Wall Street Journal columnist Jason Zweig argues that the strategy’s champion, Benjamin Graham, still had the right idea.…
Differences in Value
By Justin J. Carbonneau (@jjcarbonneau) — A few weeks ago my partner, Jack Forehand (@practicalquant) wrote a piece titled “The Mechanics of Value Investing“. In it, he highlighted the various…
Indexed Annuities: Read the Fine Print
An article in CFA Institute outlines factors to consider before investing in indexed annuity products that promise a “minimum amount of interest plus potentially additional interest based on the price…
Insights from Top Investment Manager
Edwin “Tim” Johnston III, founder of Buffalo-based Sandhill Investment Management, shared his views on the markets in a recent interview with Barron’s. Here are some highlights from Johnston’s comments: On…
Perspective: Berkshire's Amazon Stake and Value Investing
According to an article in Yahoo Finance, Berkshire’s recent investment in Amazon “flies in the face of his long-held investing views” and signals “it’s okay to buy high price-to-earnings multiple…
For This Portfolio Manager, Doing Nothing is Best
In an interview with Citywire, lead portfolio manager for the Fiera Capital US Equity fund Nadim Rizk discusses his buy-and-hold strategy. Rizk characterizes his fund’s approach as “tectonic—everything is very…
An Explanation of Market Price Movements: The Discovering Markets Hypothesis
In an article for CFA Institute, Thomas Mayer, CFA, PhD (founding director of the Flossbach von Storch Research Institute) proposes an approach to explain price movements in financial markets. The…
A Contrarian Bet on Inflation by Fund Giants BlackRock, Pimco and Vanguard
Although inflation has long fallen short of the Federal Reserve’s 2 percent target for years, some of the biggest funds are betting on the tide turning, according to an article…
Survey: How the Financial Crisis Changed Investor Behavior
The AAII Journal recently reported on a survey it conducted to evaluate what lasting impact the 2007-2009 financial crisis has had on its members’ investing decisions. Here are highlights of…
Research Affiliates Analysis Shows Weak Factors
A recent paper based on analysis by Research Affiliates shows that once research data is analyzed outside the original sample period, about half the factors were “not robust,” according to…