Frontier and Emerging Markets: Inflection Points
Today’s spiking inflation, rising interest rates, and billion-dollar investment frauds are good reminders that a clear understanding of the past helps us better anticipate the ...
Drivers of Value
What Can AI Do for Investment Portfolios? A Case Study
Artificial intelligence (AI)-based strategies are being increasingly applied in investing and portfolio management. Their contexts, utility, and results vary widely, as do their ...
Evaluating Benchmark Misfit Risk | CFA Institute Enterprising Investor
This article is adapted from a version originally published in the fall issue of The Journal of Performance Measurement®. Overview Investment management is a three-part ...
ESG (In)Efficiency | CFA Institute Enterprising Investor
Passive environmental, social, and governance (ESG) investing has become increasingly active. It’s time for a rethink. Assets have poured into passive ESG indexes in recent years. ...
Search Funds: A Strategic Investment in Underserved Markets
Investors seeking to diversify their holdings away from traditional private equity may want to look at search funds. Although these funds debuted in the mid-1980s, they have gained ...
Top 10 Posts from 2022: Fama and French, Damodaran, the Equity Risk Premium
1. Fama and French: The Five-Factor Model Revisited How well has Eugene F. Fama and Kenneth R. French’s five-factor model explained returns? Derek Horstmeyer, Ying Liu, and Amber ...
Diversity and Investment Performance: What Trade-Off?
Is there a trade-off between diversity and investment performance? It’s a common question with a definitive answer: No That’s my conclusion after conducting an extensive review ...
The Yen’s Downside Risk Persists Despite BOJ Shift
The Bank of Japan (BOJ) widens the 10-year yield trading range. The BOJ announced its latest yield curve control (YCC) change on 19 December, raising the 10-year yield cap from 25 ...
Have Central Bank Interventions Repriced Corporate Credit? Part 2
Read the complete three-part series. The European Central Bank (ECB) began buying corporate debt as part of its corporate sector purchase programme (CSPP) in 2016. Given its ...
Book Review: Financial Statement Analysis for Value Investing
Financial Statement Analysis for Value Investing. 2025. Stephen Penman and Peter Pope. Columbia University Press. The discipline of value investing has had a tough time of late. ...
2023 US Wealth Management Outlook: Tax Planning and Wealth Preservation
After a down year for financial markets, investors’ priorities have naturally shifted from growing their assets to preserving their wealth. While risk management may be the key ...
Machine Learning and FOMC Statements: What’s the Sentiment?
The US Federal Reserve began raising the federal funds rate in March 2022. Since then, almost all asset classes have performed poorly while the correlation between fixed-income ...
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