Nerd's Eye View
MARCH 14, 2025
Also in industry news this week: A recent survey finds that while advisors are increasingly using passive investment vehicles, many are taking the time to look beneath the hood to examine the makeup of different indexes in order to choose the best option for their clients A survey of advisors working at enterprise firms shows a significant increase (..)
The Big Picture
SEPTEMBER 3, 2024
But there’s always gotta be some element of the valuation really being compelling. But even in the book I wrote in 2014, you could see that the focus on competitive advantage can never be absolute, you always have to take valuation into consideration. But maybe second to valuation as a primary consideration.
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Inside Information
DECEMBER 26, 2023
He published a number of white papers around the turn of the century that predicted a dystopian professional landscape composed of a small handful of giant RIAs and a few smaller firms scurrying under their feet, looking for table scraps. This white paper is an echo of Hurley’s original forecasts. Which means?
The Irrelevant Investor
NOVEMBER 11, 2015
I'm putting on my Amazing Randi hat and calling out a "white paper" I recently came across. When the current bull market inevitably turns, passive managers could be left holding stocks and sectors with poor fundamentals and inflated valuations. 2) Tell the truth to those who want the truth, and you'll make a living.
ClearMoney
DECEMBER 14, 2021
Valuation theory helps us identify relevant factors by providing insights about differences in expected returns across stocks. 3Robert Novy-Marx, “Understanding Defensive Equity” (working paper No. 7Dave Plecha and Jacobo Rodriguez, “A Market-Driven Approach to Fixed Income” (white paper, Dimensional Fund Advisors, June 2016).
ClearMoney
NOVEMBER 4, 2021
Exhibit 4 shows marked inconsistency in valuation characteristics for the three largest US equity momentum funds during the value premium rally of late 2020 through early 2021. Gerard O’Reilly and Savina Rizova, “ Expected Profitability: A New Dimension of Expected Returns ” (white paper, Dimensional Fund Advisors, June 2013).
Brown Advisory
JUNE 21, 2017
A white paper entitled " Active Alpha ," published by Brown Advisory in 2014, highlights several factors, including: Independent thinking: Studies have shown that managers whose portfolios differ significantly from their benchmarks are more likely to outperform. Reasons for this tendency are varied.
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