A TIPS is risky in the short term and riskless in the long run, which is precisely the opposite of, and complementary to, a T-bill, which is riskless in the short term but, because of reinvestment rate volatility, risky in the long run.
Consumption smoothing, the idea that individuals should budget to match savings and spending over their lifetimes, has been the subject of vast academic research. But a new study challenges basic assumptions and illustrates the divergence between financial theory and practical experience.
The question most asked by investors late last year, as Treasury bill yields hovered just above zero was “Where can I go for yield?” followed soon after by “What can I do to protect myself from inflation?”
MegaThreats, Nouriel Roubini’s latest full-length offering, puts his Olympic-class pessimism on full display.
Antti Ilmanen’s Investing Amid Low Expected Returns updates his 2011 Expected Returns, a volume considered by many the definitive work on the subject.
Investment professionals liken trading against small, uninformed investors to shooting fish in a barrel. With the GameStop saga in late 2020, however, the fish started shooting back.
Flying Blind is beautifully written and comprehensive, covering subjects as diverse as early aviation history, the rise of the shareholder-centric economic doctrine, and aeronautical engineering.
Laurence Kotlikoff is a world-class economist who can convince you to pay off your mortgage and make you snort out your nose laughing at the same time; Money Magic is his compendium of life hacks aimed at leaving the reader wealthier and happier.
Fiona Hill’s tour d’horizon of the worldwide populist backlash is an essential, and highly enjoyable, essential reading for anyone who cares about the health of our economy, our society, and our democracy.
This book is the best, and certainly the most readable, description of the existential threats to privacy and our democratic institutions posed by Facebook and social media. Advisor Perspectives’ informed readership will need only a minimal effort to fill in its gaps.
Desmond Shum’s message for investors is clear: Institutions matter, and beware the siren song of the Chinese economic miracle.
As predicted by financial theory, stocks of companies with positive ESG records underperformed the market. But the problems for ESG investors don’t stop there.
In a society with a weak social safety net, homelessness is the inevitable result of exuberant real estate prices. Those living on the street are the indirect victims of loose monetary policy and low interest rates that foster high property and rental prices.
Dirty work, by its very nature, is simultaneously everywhere and, by design, invisible, from our dinner plates to our cell phones. The more aware of it we are, the better chance we have of preserving our way of life, and likely, in the end, our portfolios as well.
Grim as things seem, most of us are in better shape than we’d be in a higher rate environment. Before inquiring about the strength of the product purchased from my local cannabis outlet, let me explain.
Despite its flaws, Noise, the blockbuster from Daniel Kahneman, Oliver Sibony, and Cass Sunstein, is an important book that both informs and entertains.
A new book explores the WeWork disaster, a bottomless money pit that has consumed billions upon billions of investor capital built largely on the spellbinding charisma of Adam Neumann, an Israeli entrepreneur.
If you’re fond of the term “mind candy” to describe novel, intriguing, and insightful concepts, then The WEIRDest People in the World is an eight-pound Costco box of it.
