Mauboussin on Success and Luck

My 5-year old daughter recently was very excited to discover a new solution to a pressing problem. Her mother had told her she was not allow...

Missing Risk Premium Book Reviews

My book has 8 reviews over on Amazon, including the prolific Aaron Brown and David Merkel.  There's also some guy named Gregory Fodor ...

Blaming the Victim

Every week brings a new billion dollar settlement against the banks that supposedly rammed this stuff down the throats of the noble savages ...

AQR on Making Low Vol Better

 AQR has been offering 'low vol' funds institutionally for a couple of years, but last July started offering them to retail custome...

Wittiest Sentence I've Read This Year

Steve Pinker attempts to explain the difference between Red and Blue states, and also why gays, guns, and taxes are correlated policy posit...

Buy on Earnings Guidance

The standard finding is that a stock’s cumulative abnormal returns drifts in the direction of an earnings surprise for several weeks follow...

Arbitraging Beta Within Mutual Funds

If you remember your Corporate Finance, returns should rise (on average) with beta, because otherwise you can form a levered position genera...

Pointless Econ Debates

A big point of contentions seems to be whether or not the 2008 slump was a 'financial-induced recession', because as Reinhart and Ro...

Merton vs. Low Vol

Low volatility investing is becoming more popular, but the question is perhaps it could be better captured via a more inclusive metric of vo...

Google Stop Per Regulations

Google had a PR snafu and announced earnings intraday. This caused a big price move of 10%, and then a price freeze for about 2 hours per U...

I Would Destroy Half the Value for Half the Price

Above is the stock price over Vikram Pandit's CEO tenure. He received $1 in 2009 and 2010, but then you knew he would make that up and s...

Bad Regulations Don't Go Away

A poor guy in Iowa was  dismissed  via an absurd no-tolerance policy by the FDIC: A 68-year-old Des Moines man fired from a Wells Fargo call...

Vol of Vol

I was at this year's OptionMetrics conference and it was a nice overview of 13 different papers. One that stood out was Guido Boltussen...

OptionMetric User Conference Monday

The 2012 OptionMetrics Users Conference is Monday, October 15, at the New York Society of Securities Analysts Conference Center, Times Squar...