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Results 401–450
of 473 found.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by thought leaders Joe Tomlinson, Larry Swedroe and Dan Solin. They generated thoughtful discussion with wide ranging opinions on: how variable withdrawals improve retirement outcomes; whether high-dividend strategies add value; and the future of the advisory business.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by Larry Swedroe and Adam Butler. They generated thoughtful discussion with wide ranging opinions about whether preferred stocks are an alternative to safe bonds, and the benefits of adaptive asset allocation.
The Price Investors Pay for High-Dividend Funds
by Larry Swedroe,
It has long been known that many investors have an irrational preference for cash dividends. New research shows that some mutual funds prey upon this preference by artificially inflating – or “juicing” – their reported dividend yield.
Are Preferred Stocks an Alternative to Safe Bonds?
by Larry Swedroe,
Low interest rates mean that investors can no longer generate the income they need (and were used to). This dilemma has triggered a search for higher-yielding alternative forms of fixed income investing. Those investors who choose preferred stocks must understand the hidden and obvious risks.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by Larry Swedroe and Michael Edesess. They generated thoughtful discussion with wide ranging opinion on the virtues of bond laddering, and the academic failure to understand rebalancing.
Are the Returns of Jeremy Siegel’s “Superstar” Funds Likely to Persist?
by Larry Swedroe,
If historical returns provide useful insights when it comes to identifying skillful active managers, then surely those funds with the longest track records of success are most likely to be the “winners” of the future. I tested this hypothesis using data from Jeremy Siegel’s Stocks for the Long Run.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by Larry Swedroe and Michael Edesess. They generated thoughtful discussion with wide ranging opinion on the virtues of bond laddering, and the academic failure to understand rebalancing.
Weighing the Week Ahead: Will the Fed Get the Signal for a September Rate Hike?
This week’s calendar is loaded with important data. Now that the Jackson Hole Fed Conference is over, can we expect a policy change soon? Every data report this week will get special scrutiny. Will the Fed get the signal to hike rates?
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by thought leaders Larry Swedroe, Dan Solin and Michael Edesess, and included comments from thought leader and New York Times columnist Carl Richards. They generated thoughtful discussions on: a common and costly mistake investors and their advisors make; how female advisors should dress to win clients; and why DALBAR is “dead wrong” on investor versus fund performance.
Does Socially Responsible Investing Work? And How to Do It
by Adam Jared Apt,
Since the 1990s, there has been a movement—a very, very small movement, and mostly foreign—to produce the data needed to evaluate the social responsibility of corporations, by integrating measures of their social responsibility into financial reporting.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
The top conversations on APViewpoint last week were started by thought leader Larry Swedroe and member Adam Butler. They generated thoughtful discussions on: how the performance of legendary value investors like Warren Buffett matches up against passively managed alternatives; the art and science of portfolio optimization; and the myth of private equity and venture capital outperformance.
Warren Buffett and the Superinvestors of Graham-and-Doddsville: A Performance Update
by Larry Swedroe,
Should advisors expect legendary value investors, like Warren Buffett, to deliver alpha? A look back at Buffett’s 15-year track record, as well as the two funds he identified in 1984 as “superinvestors,” shows that passively managed alternatives offer better prospects for the future.
Last Week’s Highlights on APViewpoint
by Marianne Brunet,
Last week’s top conversations were started by Larry Swedroe, Wade Pfau and Adam Butler. They generated thoughtful discussions on: the myth of private equity and venture capital outperformance; Dimensional Fund Advisors’ targetdate retirement income funds; and exposing the “active risks” of passive portfolios.
Exposed: The Myth of Private Equity and Venture Capital Outperformance
by Larry Swedroe,
Don’t believe the claims of outperformance among private equity and venture capital investors. A recent study documents the daunting odds against picking a winner in these complex alternative asset classes. Fortunately, there’s a way for advisors to gain similar exposure to potentially higher returns in low-cost passive funds.
Last Week on APViewpoint
by Marianne Brunet,
Last week’s top conversations were started by APViewpoint thought leaders Scott MacKillop and Larry Swedroe, and Maneesh Shanbhag, co-founder of the advisory firm Greenline Partners. They generated thoughtful discussions on harmful portfolio management assumptions, high fees associated with hedge fund investments and the costs and benefits of socially responsible investing.
Does Active Management Add Value in Emerging Markets?
by Larry Swedroe,
I continue my series on the ability of actively managed funds to add value for their investors with an in-depth look at the asset class that is the “poster child” for an inefficient market – emerging markets. Can active managers outperform a passive index, given the supposed abundance of mispriced emerging-market stocks?
Does T. Rowe Price Add Value for Investors?
by Larry Swedroe,
With approximately $600 billion under management, T. Rowe Price has been entrusted with the assets of countless investors over its nearly 80-year history. Its eponymous founder popularized the concept of active management through growth-stock investing. I will examine whether the firm’s funds have historically added value for investors relative to a passive benchmark.
Weighing the Week Ahead: Time to Sell the News?
The economic calendar is moderate. Fed Heads are mostly on the bench. The Doho oil conference (combining OPEC and non-OPEC producers) will be the first major news for the week ahead. Markets have already anticipated the outcome, just as they have the trend of first- quarter earnings. It is a classic test of the theme:
Is it time to sell the news?
Do International Actively Managed Small-Cap Funds Add Value?
by Larry Swedroe,
One frequently hears active managers claim that they avoid the large-cap U.S. market because it’s too hard to find undervalued stocks. By that reasoning, actively managed small-cap international funds should be alpha-generating powerhouses. Let’s see if that’s true.
Does GMO Add Value for Investors?
by Larry Swedroe,
GMO is one of the most highly regarded fund families in the world, and investors have entrusted them with over $100 billion in assets. But is there any statistical evidence that the firm has been able to add significant value versus a passive index fund?
Sustainable and Responsible Investing: Is There a Price to Pay?
by Larry Swedroe,
Consumers can use their market power to demonstrate their aversion to certain business activities by choosing not to purchase goods or use services from companies that, in their minds, are selling immoral products. Similarly, investors can decide not to invest in such companies. But do those investors sacrifice returns relative to a broad-based index fund?
James Montier on Fed-Induced Bubbles, Market Valuations, Smart Beta and Liquid Alts
by Robert Huebscher,
James Montier is a member of Grantham Mayo van Otterloo’s (GMO’s) asset allocation team. In this interview, he discusses the effect of monetary policy on market valuations, and offers his opinion on smart-beta and liquid-alt investment products.
Weighing the Week Ahead: A Parade of Pontificating Pundits!
Last week’s stock market had a Jekyll and Hyde feeling, setting the background for the two weeks ahead. We will have lighter volume and plenty of people taking vacation during the holiday-shortened weeks. With plenty of explaining to do and a new year ahead, we can expect: A Parade of Pontificating Pundits!
Why Dividend-Paying Stocks are Riskier than You Think
by Larry Swedroe,
As advisors shift allocations from bonds to high-dividend stocks, they are exposing their clients to equity market risk. But they are also increasing interest-rate risk. Investors in two of the biggest dividend ETFs – SDY and VIG – are among the most exposed to the surging demand for dividend-paying stocks.
Third Avenue Management Defends Its Pursuit of Alpha
by Larry Swedroe,
Bloomberg TV recently invited me onto their new show, Bloomberg GO, for a short debate on active versus passive investing with David Barse, the CEO of Third Avenue Management. Barse stated his funds had been able to beat their index benchmark. Let’s go to our trusty videotape to see if Third Avenue has, in fact, been delivering alpha.
Does Wells Fargo Add Value for Investors?
by Larry Swedroe,
Assets in actively managed mutual funds have been a consistent source of revenue growth for Wall Street banks. But would investors have been better off in passively managed funds? I’ll answer that question for Wells Fargo and then for the group consisting of the four largest banks.
Does Morgan Stanley Add Value For Investors?
by Larry Swedroe,
In the latest 10-year period, only 38% of Morgan Stanley’s mutual funds outperformed their analyst-assigned benchmarks. Thus, while the fees these funds have generated are among the few consistent bright spots of growth on Wall Street, there is still a question for investors: Have these actively managed mutual funds been good investment choices?
The Use and Abuse of Dividend Strategies
I will look at the underlying justification for a dividend-based strategy and at how the most popular funds have performed recently. I will then discuss the criteria that investors should use to construct the best dividend-oriented portfolio, and which mutual fund best meets those criteria.
Did Barron’s Number-One Ranked Fund Family Add Value for Its Investors?
by Larry Swedroe,
If any actively managed fund family were able to deliver superior results, surely it would be the one chosen by Barron’s as its top performer during the last decade. Thus, we clearly should expect to see Waddell & Reed’s funds outperform relative to passively managed alternatives.
Do The Gabelli Funds Add Value for Investors?
by Larry Swedroe,
Mario Gabelli is one of the highest paid executives in America, having earned $88.5 million in 2014 – more than the leaders of all other publicly traded asset-management firms. But have the investors in his mutual funds been as richly compensated when compared to what they would have earned in comparable, passively managed funds?
The Mirage of the Financial Singularity
by Robert Shiller of Project Syndicate,
Many economists and financial-market observers seem to believe that we are approaching the point when even Warren Buffett would be better off leaving all investment decisions to a computer program. How, then, would they explain the recent plunge in China's stock market?
Can American Funds Sustain Its Outperformance?
by Larry Swedroe,
Among actively managed funds, American Funds has a reputation for providing investor-friendly, low-cost products with sustained records of outperformance. But has it outperformed comparable funds from Vanguard and Dimensional Fund Advisors (DFA)? If so, should investors expect its funds to maintain their edge?
Are Grantham and Hussman Correct About Valuations?
by Larry Swedroe,
For several years, well-respected financial experts such as Jeremy Grantham and John Hussman have been cautioning investors that the market, specifically the S&P 500, is vastly overvalued. Their warnings are based on the Shiller CAPE 10-year ratio compared to its long-term average. Their warnings should be taken with more than a few grains of salt.
Do Goldman Sachs' Funds Add Value for Investors?
by Larry Swedroe,
Over the last few years, an expanding line of mutual funds created by commercial banks such as Goldman Sachs and JPMorgan Chase have been drawing billions of dollars from investors looking to earn a good return. While the fees these funds have generated are among the few consistent bright spots of growth on Wall Street, the question for investors is whether or not the active mutual funds managed by these banks actually have been good investment choices.
Does Lipper's Best Overall Fund Company Beat a Passive Strategy?
by Larry Swedroe,
Lipper recently gave financial services firm TIAA-CREF the award for "Best Overall Large Fund Company", making 2015 the first time any fund family has won this honor for three consecutive years. Among its actively managed peers, TIAA-CREF's funds did exceptionally well. But does that mean your clients benefitted by owning its funds?
An In-Depth Look at the MFS Value Fund
by Larry Swedroe,
As I continue with my series analyzing the performance of some of the most successful actively managed mutual funds, it's important to acknowledge that I possess the benefit of hindsight; I am selecting funds I know have done well in the past. The question I seek to answer is whether investors should expect that outperformance to continue. With that in mind, today we'll take an in-depth look at the MFS Value Fund (MEIAX).
An In-Depth Look at Fidelity's Contrafund
by Larry Swedroe,
Fidelity's largest actively managed fund is the Contrafund (FCNTX). It's also among Fidelity's top performers, making it their flagship fund, a status previously accorded to the Magellan Fund under Peter Lynch. Will Contrafund investors continue to enjoy outperformance or will they face flagging returns like Magellan's investors did following Lynch's departure?
Results 401–450
of 473 found.
