Market Forecasting Difficult

A recent article in The Economist discusses the difficulty analysts face in forecasting returns given the current market’s stretched valuations. “Just as fund managers cannot be relied on to be…

REIT Outperforms Through Active Management

As active stock managers continue to face competition from low-cost index funds, some firms have managed to outperform benchmarks by using “specialized expertise and fundamental research in sectors like real…

GMO Paper Says Indexing the S&P 500 is Risky

A comprehensive  white paper published by GMO’s Matt Kadnar and James Montier in August—arguing against a predominantly index-focused investment strategy–was condensed in a recent MarketWatch article. The article quotes the…