July 13, 2018
The fact that the trade dispute comes at a time when China has been fighting excessive lending presents a dual challenge for authorities. They may have to choose between rapid credit growth and their GDP target.
June 29, 2018
How sports franchise owners act like short-term momentum traders.
June 22, 2018
Tariffs will probably remain an issue in the near future. The market may move from not expecting a trade war, to expecting a short trade war, then to accepting a long trade war.
June 18, 2018
We show there is much less evidence of long-horizon return predictability than existing research suggests, casting doubt over claims about forecasts based on stock market valuations and factor timing.
June 15, 2018
What we really want to know as investors is whether monetary policy is tight. It’s not an easy question to answer.
June 13, 2018
We test the predictability of betting-against-beta (BAB) strategies and find that they perform better when past market returns have been high.
May 25, 2018
Often it takes time for different themes in the market to play out in price action. That can make it just as surprising when a theme finally does play out.
May 21, 2018
More careful thinking is needed to separate facts from fiction in the hotly contested debate between active and passive investing.
May 14, 2018
Despite its long and illustrious history, much confusion about the size effect remains. We examine common claims about the size effect and seek to clarify some of the misunderstanding surrounding it.
May 14, 2018
We show how separating a portfolio into an active long-short portfolio and a passive index portfolio can have significant tax benefits.