Every Week a New Convert
From Forbes , a piece highlighting Baker and Wurgler's paper (that's Baker in the picture): Here's a provocative concept. Stodgy...
Social Progress
I'm generally pessimistic about societal trends, yet there are some positive ones. An interesting article in Foreign Policy notes that ...
How to Make $200 Million Disappear
The local paper is predictably liberal in editorial and news coverage, yet they noted a particular Federal Program was a total failure , wit...
Complex Finding about SATs, College, and Earnings
An update of a paper by Stacy Dale and Alan Krueger is rather fascinating. As Robin Hanson notes : attending a college with higher SAT sco...
Cargo Cults Not So Foreign
Jeff Hawkins argues theorizing is the essence of thought, as we observe the world through a perceived sequence of patterns, and we use these...
'Wage' Analysis Rather Uninteresting
When I hear people quote data on wages, I don't really care about the trend because without non-wage compensation such data are so misle...
Low Volatility Investing Hot, Has Drawback
Low Volatility Investing is pretty hot right now. A week ago there was a conference from the CFA/Boston Security Analysts Society entitled ...
When A Stop-Loss Makes Sense
Tuesday I posted on the stop loss myth , but it's actually a more complex issue. The post criticized the thought that given an expected...
Deutsche Bank on MVP Investing
DB has a new white paper on Minimum Variance Portfolios (MVPs), and finds they outperform the indices (see above). In their case, they don...
The Stop-Loss Myth
I'm sure everyone has been presented with the following logic: put in a 'stop-loss' at some arbitrary amount, say losing 1%. Th...
The Next Train Wreck
The NYT applauds Obama's budget with this oxymoron: Obama Budget Reflects a Cut-and-Invest Agenda [note:'invest' and 'spend...
Alternative Investment Return Puzzles Proliferate
When I was writing my dissertation in 1993 on the negative return to highly volatile stocks, this result was considered so implausible, my f...
On the Silliness of Hedging Equities with the VIX
Levy, Post, and van Vliet wrote an article in 2003 entitled Risk Aversion and Skewnes preference: A Comment . They were responding to the c...
Shocking: People play events into biases
There's a neat new paper over at the SSRN: They Saw a Protest: Cognitive Illiberalism and the Speech-Conduct Distinction , by researcher...
Siegel States Equity Premium 3.1%
Jeremy Siegel is touting stocks , with his latest at last week's TD Ameritrade Institutional conference: U.S. stocks have had an average...
Bali and Cakici's Low Vol Refutation
I've long been a proponent that lower volatility equities produce slightly (1-3%) higher annual returns than average, which creates a gr...
Kick to Face Hurts
Last weekend's UFC was excellent. Silva and Belfort danced around for 2.5 minutes, and when it looked like Belfort took Silva down, h...
Nobelists Promotes Homeopathy
Dr. Luc Montagnier, the French virologist who won the Nobel Prize in 2008 for discovering the AIDS virus, and Brian Josephson, Ph.D., who wo...
MIT Symposium Highlights Macroeconomic Muddle
MIT had a celebration of their 150th birthday, a Symposia on Economics and Finance: From Theory to Practice to Policy. Here's Bob Hall...
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