Can Investor Activism Boost Small-Cap Stock Performance?
Activist investor interventions with small, newly public companies can improve their stock performance, a Financial Analysts Journal study finds. In “Shareholder Activism in ...
Performance Measurement & Evaluation
How to Build Better Low Volatility Equity Strategies
The Role of Low Volatility Strategies in Investment Portfolios Low volatility equity strategies appeal to investors for many reasons. First, they help keep our portfolios ...
Decoupling Correlations: Global Markets since COVID-19
Correlations between world stock markets began to increase in the 1970s. This trend endured for nearly a half century as globalization took hold and defined much of the era. But that ...
The Unspoken Conflict of Interest at the Heart of Investment Consulting
Mark J. Higgins, CFA, CFP, is the author of Investing in U.S. Financial History: Understanding the Past to Forecast the Future from Greenleaf Book Group Press. After World War ...
Monte Carlo Simulations: Forecasting Folly?
Introduction The Shanghai Stock Exchange Composite Index (SSE) was booming in early 2015, and as it soared, legions of new investors rushed in to try their luck at securities ...
Bad Ideas: Why Active Equity Funds Invest in Them and Five Ways to Avoid Them
How many attractive stock ideas does Naomi, an institutional active equity fund manager, have at any one time? “Oh, I think between 10 and 20,” she told me. So, why did her ...
ESG Investing and the Popularity Asset Pricing Model (PAPM)
Thomas M. Idzorek, CFA, is the author of “Personalized Multiple Account Portfolio Optimization,” for the Financial Analysts Journal, and co-author of Popularity: A Bridge between ...
The Low-Volatility Factor and Occam’s Razor
Pim van Vliet, PhD, is the author of High Returns from Low Risk: A Remarkable Stock Market Paradox, with Jan de Koning. The low-volatility premium may be the most compelling ...
Venture Capital: Lessons from the Dot-Com Days
The NASDAQ 100 index hit rock bottom during intra-day trading on 10 October 2002, down 77% from its all-time high on 10 March 2000. An estimated 100 million individual investors lost ...
Times Change: The Era of the Private Equity Denominator Effect
After private equity’s extraordinary performance in 2021, private market valuations decoupled from those of both public equities and bonds in 2022. This led many institutional ...
Climate Transition Risk in European Equity Markets
The financial markets are among the most effective tools we have to fight climate change, and the net zero transition will require trillions of dollars in annual investment between ...
Investment Returns Are NOT Random
There is notable disagreement among academics about how investment time horizon should affect portfolio allocations. In recent research released through CFA Institute Research ...
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