…or, in a perfect world, doing both. So far, we’ve looked at three equity factors: size (small companies tend to outperform large companies), value (cheap companies tend to outperform expensive…
…lot of times, we talk about ratios like price-to-earnings or price-to-sales, but I think it’s helpful to look at the numbers themselves to compare companies. When I look at the…
…which you can do in an index fund. I don’t mind though, because I’ll bet that the risk management team at each of the fund companies saw what was happening…
…“the persistence of positive real interest rates.” If they explicitly defined real interest rates, I missed it, perhaps because the report is 24-pages long and has plenty of footnotes. In…
…when you look at category returns, it’s much harder to compare results on an apples-to-apples basis. Looking at category returns can be useful, especially in esoteric strategies (which the bond…
Twice per year, Standard & Poor’s issues a report that compares the performance of actively managed mutual funds to corresponding S&P indexes. The most recent report, the S&P Indexes Versus…
…companies, firearms companies, brewers, etc. I thought it was funny that a fund would pursue these strategies, but I would never invest in it. And good thing, too, the fund…
…maybe oil would be competitive, but that’s not how it turned out. But here’s another problem: despite the low returns, commodities have extremely high volatility. Wow! Oil is 2.3 times…
…the article really highlighted their alternative mutual funds, strategies like managed futures and long-short equities. However, it makes perfect sense to focus on these funds for two reasons. First, AQR…
…less than 0.10 percent thanks to price wars among issuing companies. The silly ETFs are simply a byproduct of innovation and competition. It’s impossible to compete with Vanguard or iShares…
