…ended a 35-year career with Legg Mason in 2016, now runs two mutual funds—the Miller Opportunity fund and Miller Income fund as well as the hedge fund Miller Value Partners….
Search Results for: low-volatility funds
Howard Marks on Why Investors Aren't Worried
…you really want to know is how much optimism is in the price. If you can buy things where the level of optimism is unjustifiably low, that’s where you make…
Five Questions: Hidden Risks in Investing with Corey Hoffstein
…Another solution might be to retain a higher equity allocation, but implement a defensive mandate (e.g. high quality, low-volatility stocks). Or an investor might implement a dynamic beta strategy, which…
U.S. Mega Cap Paradox
…growth and continuing low interest rates. This according to an article in Institutional Investor. After performing a “peak-to-peak” analysis of the asset class’s performance between October 2007 and April 2019,…
Morningstar: The Importance of Investing Abroad
…the overall portfolio’s volatility” since U.S. and international stocks exhibit low correlation. Although currency fluctuations do add a bit of volatility to international stocks, Bryan argues that over the long…
Winner's Circle of Stock-Fund Managers
A recent article in The Wall Street Journalreports that the publication’s quarterly survey of actively managed U.S.-stock funds shows that “boring can be beautiful. In fact, in the midst of…
How History Informs the Valuation Discussion
…the current market pricing should be even higher given the low level of interest rates: He explains, “This doesn’t mean valuations or stocks have to stay high, but if interest…
GMO's Montier: Bearish on Stocks but Bullish on Monetary Theory
…wages been so damned slow and low for so long?” He describes an “unhealthy combination” that now exists in which the manufacturing and information sectors are strong, but construction and…
Private Equity: Bigger Funds Not Necessarily Better
Private equity firms are raising increasingly bigger funds, but they don’t necessarily deliver bigger returns. This according to a recent article in The Wall Street Journal. “The rise of megafunds…
Winton's David Harding Offers Insights on Quant Investing
…and the search for new strategies. Here are some highlights: Systematic strategies have become crowded according to Harding: “With low to zero interest rates, its tough to make money in…