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Results 151–160 of 160 found.

The Clued-in, the Clueless, the Oblivious and the Conflicted
by Michael Edesess, 3/8/11
I?ve now read perhaps 10 books about the financial crisis. Maybe I?m a junkie, but each has given me new information or a fresh way of looking at events. 'All the Devils Are Here' offers a treasure trove of information about company behavior during the crisis, notably Fannie and Freddie, Goldman Sachs, Merrill Lynch, AIG, Countrywide, and Ameriquest.

Beyond the Efficient Market Hypothesis
by Michael Edesess, 1/25/11
John Cassidy's 2009 book, "How Markets Fail," drives the final nail in the coffin of the Efficient Market Hypothesis. Well, perhaps the penultimate nail - as I'll explain. It is the most compelling argument I have read that we need a new and improved theory of markets, a theory that subsumes the efficient market hypothesis, much as Einstein's relativity theory subsumed Newtonian physics.

The Dangers of Rebalancing
by Michael Edesess, 12/6/10
Every portfolio should be rebalanced to its targeted asset allocation, we are taught. Indeed, there may be no other precept as routinely and studiously practiced among financial advisors. But does rebalancing either increase expected return or reduce risk? If so, why? The answers to those questions reveal that it may be prudent to rebalance, but not for the reasons you think.

An Exceptional Resource for Asset Allocation
by Michael Edesess, 10/26/10
Roger C. Gibson's fine and exemplary book, Asset Allocation: Balancing Financial Risk, Fourth Edition, shows that character and conscience-based counseling still exist, even in the financial profession. It is still possible for advisors to look out for their clients' long-term interests.

A Modest Proposal to the SEC
by Michael Edesess, 9/7/10
The SEC is now considering reforming how 12b-1 fees are currently charged, how they would be set in the future, and how they will be disclosed to fund purchasers. In this guest contribution, Michael Edesess offers an alternative, radical proposal, should the SEC's reforms not be adopted.

Martin Leibowitz's Failed Defense of the Endowment Model
by Michael Edesess, 7/20/10

The latest book from Martin Leibowitz, one of the most respected thinkers in the investment industry, attempts to justify the endowment model of investing. As Michael Edesess writes in this review, Leibowitz's defense is highly problematic, and that should concern any advisor utilizing a Yale-like strategy.

Nouriel Roubini on Crisis Economics
by Michael Edesess, 7/13/10
There's good reason why Nouriel Roubini has been dubbed Dr. Doom. After reading his book co-authored with Stephen Mihm, Crisis Economics, one might despair for our economic system. Roubini makes the recent crisis seem inevitable, hard to stop, and very hard to keep from happening again.

The Quants
by Michael Edesess, 5/4/10

In his review of the new book, The Quants, Michael Edesess says its author, Scott Patterson, mistakenly glorifies the accomplishments of the supposed quantitative "geniuses" on Wall Street. Those quantitative analysts are not disciplined for their lack of rigor and, as a result, produce results that are not justified by the underlying mathematics or by common sense.

A Review of "The Big Short" by Michael Lewis
by Michael Edesess, 4/6/10
"The Big Short" tackles the financial meltdown as seen by four relatively minor, but colorful players. (Minor means running only hundreds of millions, not billions.) All of them were voices in the wilderness, writes Michael Edesess, our reviewer. All of them bet heavily against the subprime real estate bubble that, for a while, fueled huge gains.

Luck vs. Skill in Mutual Fund Alpha Estimates
by Michael Edesess, 10/13/09
A long-standing research thread has shown that professionally-managed portfolio returns strongly resemble a random walk about the market average. This is interpreted to mean that professional money managers cannot predictably beat the market. A new study by Eugene Fama and Kenneth French uses a novel statistical approach to add evidence to that record- but with an important caveat.
Results 151–160 of 160 found.