Swedroe: ‘Incredible Shrinking Alpha’ Continues | ETF.com:
"Highlighting the problem of survivorship bias, over the five-year period, nearly 21% of domestic equity funds, 21% of global/international equity funds and 14% of fixed-income funds were merged or liquidated."'via Blog this'
The best microstructure example for class I have ever seen
The floor of the New York Stock Exchange. (Photo credit: Wikipedia)
This is really cool.
So most finance classes traditionally talk about how trading floors worked in the past. You know the drill: open outcry, specialist, floor brokers, etc. But trading has changed so much, that armed with that knowledge only one would barely recognize today's marketplace made up of many exchanges, OTC
How can financial inclusion improve the lives of poor people? | International Development Journalism competition | The Guardian
How can financial inclusion improve the lives of poor people? | International Development Journalism competition | The Guardian:
There are no easy answers here:
"Can access to financial services, formal and informal help the poorest earn a living, grow their businesses and create new jobs, thereby pulling whole communities out of poverty? When the aim is to create jobs then what is more
There are no easy answers here:
"Can access to financial services, formal and informal help the poorest earn a living, grow their businesses and create new jobs, thereby pulling whole communities out of poverty? When the aim is to create jobs then what is more
CEO Pay: What is what is sometimes hard to determine
Offers a fascinating look at CEO pay that notes the difficulty in determining exactly how (or why) the CEO is paid as (s)he is.
A look in:
"For researchers seeking to understand CEO pay, theopacity of some of these instruments is of practicalinterest. Salary and bonus payments are the leastopaque; they are just cash payments. But even withthese simple instruments, investors and
A class post for Mergers and Acquistions
I use this in class, so figured I might as well make it available to everyone. We look at merger waves, and also some at premiums.
https://helpified.com/paths/mergers-and-acquistions
A look at Fat Tails and why they can be a problem
I have been putting together quite a few Helpifed paths for my classes. Anyone can use them, but this one is on a topic that most finance textbooks (and seemingly most introductory stats classes do not cover (or at least the students do not remember by the time they reach my classes)
A look at Fat Tails:
https://helpified.com/paths/fat-tails-a-look-at-non-normal-distributions
Michael Matheson Miller on Poverty, Inc | EconTalk | Library of Economics and Liberty
Well worth your time!
I just sent an email to SBU officials to have a screening on campus.
Here is the trailer:
POVERTY, INC. | Official Trailer from POVERTY, INC. | The Movie on Vimeo.
Michael Matheson Miller on Poverty, Inc | EconTalk | Library of Economics and Liberty: "Michael Matheson Miller of the Acton Institute and the Director of the documentary Poverty, Inc., talks with EconTalk
I just sent an email to SBU officials to have a screening on campus.
Here is the trailer:
POVERTY, INC. | Official Trailer from POVERTY, INC. | The Movie on Vimeo.
Michael Matheson Miller on Poverty, Inc | EconTalk | Library of Economics and Liberty: "Michael Matheson Miller of the Acton Institute and the Director of the documentary Poverty, Inc., talks with EconTalk
Finance and Economics podcasts
I have been using podcasts in class and I highly recommend that you do as well! (or if you are no longer in class, enjoy and learn on your own!)
Here are some of my favorites that are all pre-approved for extra credit assignments:
Approved Podcasts (all also available on iTunes)
Planet Money. So well done. I have to remind myself they have a staff of people and a budget. I do not have
Hedge Funds’ Results: Far From August - Barron's
Hedge Funds’ Results: Far From August - Barron's:
"Through mid-October, the HFR hedge fund index was about flat for the year, compared with a 1.7% price drop for the S&P 500. Once again, the same argument emerges for hedge funds, which usually charge a 2% management fee, plus 20% of any profits, as it did in August: We might not be doing great, but we’re doing better than long-only stockpickers.
"Through mid-October, the HFR hedge fund index was about flat for the year, compared with a 1.7% price drop for the S&P 500. Once again, the same argument emerges for hedge funds, which usually charge a 2% management fee, plus 20% of any profits, as it did in August: We might not be doing great, but we’re doing better than long-only stockpickers.
Warren Buffett: Why hedge funds fail - MarketWatch
Warren Buffett: Why hedge funds fail - MarketWatch:
"The fixed annual fees hedge funds charge are the real money-makers, not the contractual "bonuses" for performance. By extension, Buffett is making a statement about active managers of all kinds. They're not in the business of beating the market. They're in the business of attracting assets and that's all.
For example, a hedge fund managing
"The fixed annual fees hedge funds charge are the real money-makers, not the contractual "bonuses" for performance. By extension, Buffett is making a statement about active managers of all kinds. They're not in the business of beating the market. They're in the business of attracting assets and that's all.
For example, a hedge fund managing
A Tax to Curb Excessive Trading Could Be a Boon to Returns - The New York Times
A Tax to Curb Excessive Trading Could Be a Boon to Returns - The New York Times:
Interesting piece--not sure a tax would solve the problems, but ???
"Why do people hurt themselves by trading in this manner? Is it like gambling, with its danger of addiction akin to cigarettes? Maybe a little. A different study Mr. Odean worked on showed that when Taiwan introduced a national lottery, trading on
Interesting piece--not sure a tax would solve the problems, but ???
"Why do people hurt themselves by trading in this manner? Is it like gambling, with its danger of addiction akin to cigarettes? Maybe a little. A different study Mr. Odean worked on showed that when Taiwan introduced a national lottery, trading on
Europe's airlines spruce up their jet fuel hedges | Reuters
Europe's airlines spruce up their jet fuel hedges | Reuters:
"With fuel accounting for 46 percent of Ryanair's (RYA.I) 2014 operating costs, 33 percent of British Airways' (ICAG.L) and 21.5 percent of Lufthansa's (LHAG.DE), price fluctuations can seriously impact company profits. To reduce price-fluctuation risk on projected operating costs, many airlines hedge a proportion of their future fuel
"With fuel accounting for 46 percent of Ryanair's (RYA.I) 2014 operating costs, 33 percent of British Airways' (ICAG.L) and 21.5 percent of Lufthansa's (LHAG.DE), price fluctuations can seriously impact company profits. To reduce price-fluctuation risk on projected operating costs, many airlines hedge a proportion of their future fuel
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