In Plus episode 507, we provide an update on the stock market performance attribution shared last week. We consider whether asset class pricing follows the efficient market hypothesis so asset classes can't be over or undervalued. We analyze the energy company Phoenix Capital and compare investing in its unsecured bonds to a more diversified private credit fund such as those offered by Cliffwater. Become a Member If you would like to listen to this episode of Money For the Rest of … [Read more...]
198 Plus: Market Efficiency, Tracking Error and Securities Lending
This week March 30, 2018, we look at whether it is possible to get an "information interpretation edge" in terms of taking advantage of market participants overreacting to information that is publicly available. We also look at how indices are reconstituted, how index funds and ETFs track their underlying benchmarks, tracking error and securities lending. … [Read more...]
170: Are Financial Markets Efficient?
How investment markets can be both efficient and inefficient depending on the environment. In this episode you’ll learn: Show Notes Adaptive Markets: Financial Evolution at the Speed of Light by Andrew Lo The Misbehavior of Markets: A Fractal View of Financial Turbulence - Benoit Mandelbrot Sponsors Felix Gray Transcript … [Read more...]
70: Rule #1 and the Investor’s Journey
Should you invest like Warren Buffet? How your temperament, experiences, interests and skills influence how you invest. Plus why most passive index investors unknowingly make active investment decisions. In this episode you'll learn: How investing is like being on a hero's journey.How to invest like Warren Buffet and Phil TownWhy most active managers don't beat the market.What is the efficient market hypothesis.What assets and weights comprise the global market portfolio.What … [Read more...]
