Investing

[ad_1] Central banks are playing a critical role in addressing climate change by steering the financial sector toward sustainability. However, there is a significant disparity, particularly in developed countries such as the United States, between the creation of climate change strategies and their execution. This gap is apparent in the […]

[ad_1] “Today’s investors need to understand geopolitical trends as a main driving force of markets.” — Joachim Klement, CFA Joachim Klement, CFA, has emerged over the last decade as one of the more insightful and compelling voices in finance. Well-reasoned, rigorous, humorous, and occasionally iconoclastic, his perspective, featured here on […]

[ad_1] Valuation: Measuring and Managing the Value of Companies, 7th Edition. 2020. McKinsey & Company, Tim Koller, Marc Goedhart, and David Wessels. Wiley. What is “value”? This is a pressing question for investors: Turning investment theory into a successful value-oriented equity strategy has proved challenging over the last decade. Tim […]

[ad_1] By now, everyone has seen the headlines. The revolution has started. GameStop’s stock price was suddenly, artificially sent soaring. A once-mighty videogame retailer whose prospects had been laid low by the transition to digital and streaming — as well as the global pandemic — experienced an out-of-nowhere jump in […]

[ad_1] In 1688, Joseph de la Vega wrote, “Profits on the exchange are the treasures of goblins. At one time they may be carbuncle stones, then coals, then diamonds, then flint stones, then morning dew, then tears.” He was writing about the trading of shares on the Amsterdam Stock Exchange […]

[ad_1] Perhaps the biggest tradeoff for equity portfolio managers is between specialization and risk reduction. The fewer stocks they research and include in their portfolios, the better their understanding of the underlying companies and the better their chances of generating excess returns by focusing on their high-conviction positions. On the […]

[ad_1] The Technological Revolution in Financial Services: How Banks, Fintechs, and Customers Win Together. 2020. Edited by Michael R. King, CFA, and Richard W. Nesbitt. University of Toronto Press. The Technological Revolution in Financial Services: How Banks, Fintechs, and Customers Win Together, edited by Michael R. King, CFA, Lansdowne Chair […]

[ad_1] Introduction Ted Theodore first wrote about value versus momentum stocks way back in 1984, but almost 40 years later, there still is no real consensus among investors or academics on what is driving either strategy. That’s not due to a lack of research. Thousands of papers have scrutinized equity […]

[ad_1] Yvette’s inbox dings at 3:02 pm on 13 May 2038. It’s the list of trades executed by the algorithms that day. A quick review raises no red flags, which is good because she is headed into a sign-on meeting with a new client. “I need this money in the […]

[ad_1] “David was, simply, the best at what he did. He was to endowments what Jack Bogle was to funds — none better as a person or professional.” — Steven M. Galbraith David Swensen, who passed away last week, was among the most influential investors of his generation. As chief […]