Investing

[ad_1] The J-curve narrative in private equity (PE) investments has accompanied the growth of private markets up to the present. That narrative deserves a quiet obsolescence. Here’s why. The J-Curve Private market funds tend not to be invested all up front. Rather investors contractually agree to supply the necessary capital […]

[ad_1] Expectations Investing: Reading Stock Prices for Better Returns. 2021 – Revised and Updated. Michael J. Mauboussin and Alfred Rappaport. Columbia Business School Publishing. Expectations Investing: Reading Stock Prices for Better Returns represents an important resource for practitioners seeking an insightful alternative approach to identifying discrepancies between price and value. […]

[ad_1] Brian Michael Nelson, CFA, is the author of Value Trap: Theory of Universal Valuation. “People’s thinking process is too bound by convention or analogy to prior experiences. It’s rare that people try to think of something on a first principles basis. They’ll say, ‘We’ll do that because it’s always […]

[ad_1] Introduction “Software is eating the world.” The venture capitalist Marc Andreessen wrote these words back in 2011. From today’s perspective, with companies like Alphabet, Microsoft, and Meta dominating the stock markets, Andreessen’s observation seems to have held up. Had BlackRock CEO Larry Fink made similar comments about exchange-traded funds […]

[ad_1] Nothing but Net: 10 Timeless Stock-Picking Lessons from One of Wall Street’s Top Tech Analysts. 2021. Mark S. F. Mahaney. McGraw Hill. In Nothing but Net, the well-known US technology analyst Mark Mahaney has encapsulated his life’s work in 300-plus pages. The book provides 10 invaluable lessons that investors […]

[ad_1] Adapted by Lisa M. Laird, CFA, from “Communicating Clearly about Investment Objectives and Risks” by Karyn Williams, PhD, and Harvey D. Shapiro, originally published in the July/August 2021 issue of Investments & Wealth Monitor.1 In the first article in this series, we discussed the need for clear communications at the […]

[ad_1] A Wealth of Well-Being: A Holistic Approach to Behavioral Finance. 2024. Meir Statman. John Wiley & Sons. In A Wealth of Well-Being, Meir Statman, the Glenn Klimek Professor of Finance at Santa Clara University and a prominent thought leader in behavioral finance, explores how financial well-being can lead to […]

[ad_1] As the most followed CFA charterholder on LinkedIn, Eric Sim, CFA, has expertly leveraged social media to connect with other professionals, build his personal brand, and advance his career. In the How to Master Social Media series, adapted from his recent book Small Actions: Leading Your Career to Big Success, Sim shares […]

[ad_1] Investment advisors may be overestimating the risk of equities for longer-term investors. We analyzed stock market returns for 15 different countries from 1870 to 2020 and found that optimal equity allocations increase for longer investment horizons. Optimization models that use one-year returns generally ignore the historical serial dependence in […]

[ad_1] We all agree that finance has a key role to play in getting us to net zero. But we can’t ignore the elephant in the room: the inherent conflict between the “E,” the “S,” and the “G” in environmental, social, and governance (ESG) investing. As much as we might […]