Mind the Inflation Gap: Hedging with Real Assets
Inflation expectations are skyrocketing. The University of Michigan Survey of Consumers shows that median forecasts jumped to 6.5% in April from 3.3% in January, and professional ...
Portfolio Management
China’s Enterprise Annuities: “Long-Term Money, Short-Term Investment”
This article is derived from a recent speech by Bo Sun to CFA Society China and is translated and adapted by Zhang Ke, CFA, Zhang Xiao, CFA, and Li Na, CFA. The reform of ...
Book Review: In Pursuit of the Perfect Portfolio
In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest. 2021. Andrew W. Lo and Stephen R. Foerster. Princeton ...
Drowning in the Private Equity Pool
What’s most surprising about aggregated private market performance calculations? The widespread “tolerance” of mathematical errors, gross inaccuracy, and representativeness among ...
Equity Risk Premium Forum: Don’t Bet Against a Bubble?
For more insights on the equity risk premium from Rob Arnott, Cliff Asness, Mary Ida Compton, Elroy Dimson, William N. Goetzmann, Roger G. Ibbotson, Antti Ilmanen, Martin Leibowitz, ...
Portfolio Diversification: Harder Than It Used to Be?
“One of the most vexing problems in investment management is that diversification seems to disappear when investors need it the most.” — Sébastien Page , CFA, and Robert A. ...
Closing the Gap: Gender Lens Investing and the Future of Finance
Public perception of gender equality issues runs in a repetitive cycle. We’ve all seen it. A scandal breaks out, or a study discovers yet another damaging disparity. Think pieces are ...
Buyers Beware: 7 Red Flags That Signal a Private Market Reckoning
In the history of every great catastrophe, you will find some masterly bit of stupidity set fire to the oil-soaked rags. —EDWIN LEFEVRE, author of Reminiscences of a Stock ...
ESG Integration: Lessons from US Insurers
Effective environmental, social, and governance (ESG) investing requires a balance between pursuing the mission and achieving the required returns. That means making decisions that ...
Equity Risk Premium Forum: The Deficient Market Hypothesis
For more insights on the equity risk premium from Rob Arnott, Cliff Asness, Mary Ida Compton, Elroy Dimson, William N. Goetzmann, Roger G. Ibbotson, Antti Ilmanen, Martin Leibowitz, ...
Higher Interest Rates: Some Hedge Fund Strategies May Benefit
Where are rising interest rates a good thing? With inflation at 40-year highs, the US Federal Reserve lifted its target range for the federal funds rate by 25 basis points (bps) ...
Why Invest in Stocks? | CFA Institute Enterprising Investor
Aren’t They Risky? Many financial pundits assume so, and in terms of volatility and the risk of permanent principal impairment, they’re right. But contrary to popular perception, ...
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