…management had ballooned to $18.8 billion. In 2010, Morningstar named Berkowitz the ‘Manager of the Decade,’ touting his 10-year returns through Dec 31, 2009 of 13.2 percent compared to the…
…the 12.6 percent return for the S&P 500, an underperformance of -1.6 percent per year. Again, mid cap fund managers fared a little better with a -0.8 percent annual lag…
…temporary phenomenon or a permanent condition. Of course, in this case ‘temporary’ is measured in years and ‘permanent’ isn’t really forever, but measured in decades. Unfortunately, I don’t have any…
…ratio, price-to-book, the dividend yield, etc. They determine what stocks are growth stocks based on long-term projected earnings growth, sales growth, cash flow growth, etc. The details of their scoring…
…Sponsored Retirement Plans (i.e., 401(k) plans). Each of these investor types wants to maximize returns while minimizing risks, but each requires a slightly different discipline. Private Clients Private clients are…
…funds as opposed to their traditional ‘beat-the-benchmark’ funds. I offered three theories for why advisors weren’t interested in AQR’s long-only funds compared to the alternative funds, and they are all…
…release here.) This only applies to institutional investors though, so called ‘prime’ money market funds; it doesn’t apply to retail-oriented money market funds like those offered by Schwab, Vanguard or…
…with growth prospects for US companies. Last night, earnings season unofficially kicked off with a better-than-expected report from Alcoa, the aluminum maker. According to FactSet, earnings are estimated to decline…
…16.86 percent for the S&P 500 during the same period, which include the tech bubble/burst and the 2008 financial crisis. That’s right, oil was 50 percent more volatile than stocks,…
