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5 results found.

Smart Beta or Incidental Alpha?
by Steven Grey, 7/9/18

Smart-beta funds believe that they can consistently identify mispricings by subjecting information to quantitative analysis. But numbers alone are dangerously misleading

Which Crowd? Mulling the Investment Wisdom of the Masses
by Steven Grey, 8/20/13
With every investment or trade, the profits that accrue with the passage of time eventually prove one party the wiser. But of what practical value is the notion of collective wisdom if investors can’t consistently identify the ’wise’ crowd before the fact?

Cash, Profits and Misplaced Priorities
by Steven Grey, 6/18/13
Its a not-so-veiled threat that is all too familiar to most investment fund managers: Were not paying you to be in cash. But why is it that so many investors fear cash more than losses?

Making the Numbers
by Steven Grey, 4/16/13
Among the innumerable clichés littering the financial pages, few are as perversely ironic as the phrase “making the number.” Anyone unfamiliar with investing would almost automatically take this as an explicit warning: ’Beware! These numbers are made.’ And yet the same declaration is almost universally received by the investment community as reassurance. It’s a twisted, dangerous dynamic that only reinforces careless reliance on the most potentially manipulated of all available financial information.

The Myth of the Casually Competent Investor
by Steven Grey, 4/9/13
The greatest trick the Devil ever pulled was convincing the world he didnt exist.- Verbal Kint, The Usual Suspects. Under certain circumstances, a myth becomes so embedded in the popular mindset that it transcends the illusion of truth and assumes the gravity of gospel. The capital markets at the heart of the American economy rely on just such a fallacy: The Myth of the Casually Competent Investor.
5 results found.