Active Managers Sell Hope, Underperformance
By: greenbackd Research Affiliates’ Jason Hsu has a new article Selling Hope (.pdf) in which he discusses the reason investors persist in the seemingly irrational behavior … Read more
By: greenbackd Research Affiliates’ Jason Hsu has a new article Selling Hope (.pdf) in which he discusses the reason investors persist in the seemingly irrational behavior … Read more
Greenbackd Greenbackd has been quiet over the last few days while I finished “Simple But Not Easy,” my latest white paper … Read more
By: Greenbackd Greenbackd was honored to be one of the bloggers asked to participate in Abnormal Returns “Finance Blogger Wisdom” series. … Read more
By: greenbackd I have recently read Vitaliy Katsenelson‘s excellent The Little Book of Sideways Markets. Vitaliy’s thesis is that equity markets are characterised by … Read more
By: greenbackd Mark Spitznagel, CIO of Universa, released in May a prescient white paper called “The Austrians and the Swan: Birds of a … Read more
By: greenbackd Meb Faber’s World Beta has a great series of posts on Graham / Shiller PEs globally as at May 24: Meb … Read more
By: Greenbackd Yesterday I looked at John Hussman’s method for estimating the long-term returns on stocks. The long-term return on a security … Read more
By: Greenbackd There are a number of studies on the estimation of long-term returns to stocks. Ignoring the empirical research momentarily, … Read more
By: Greenbackd I’ve been closely following on Greenbackd the Kinnaras stoush with the board of Media General Inc (NYSE:MEG) over the last few … Read more
By: Greenbackd Yesterday I covered a 2006 talk, “Journey Into the Whirlwind: Graham-and-Doddsville Revisited,” by Louis Lowenstein*, then a professor at the Columbia … Read more
By Greenbackd The Superinvestors of Graham-and-Doddsville is a well-known article (see the original Hermes article here.pdf) by Warren Buffett defending value investing against the efficient market … Read more
By: Greenbackd A recent study by Wes Gray and Jack Vogel, Dissecting Shareholder Yield, makes the stunning claim that dividend yield doesn’t predict … Read more
By Greenbackd The only one fair fight in finance: Joel Greenblatt versus himself. In this instance, it’s the 250 best special … Read more
By Greenbackd The rationale for a value-weighted index can be paraphrased as follows: Most investors, pro’s included, can’t beat the index. Therefore, buying an index fund is … Read more
By Greenbackd Yesterday I took a look at the different ways of structuring an index suggested by Joel Greenblatt. Greenblatt finds that an … Read more