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Introducing our new portfolio review service for professionals
The vast majority of pensions funds, charities, endowments and other institutional portfolios have underperformed the market for decades. The way to stop the rot is to have an independent portfolio review, reduce fees and complexity, and increase diversification. From today, that’s precisely what TEBI is offering. As anyone who’s read The...
How to avoid foolish behaviour
By LARRY SWEDROE During my 25 years as the chief research officer at Buckingham Wealth Partners, I have witnessed investors make many costly mistakes. These mistakes were made for a variety of reasons, including lack of knowledge. However, some were made...
Taking on the dependency problem
By JOACHIM KLEMENT If you are younger than 65 right now and live in a developed country, you have a problem. On the one hand, you know that your society is ageing rapidly and that means that the dependency ratio (i.e....
The endowment effect: why we hold assets we ought to sell
By LARRY SWEDROE The issue of holding or selling an asset is one of the more frequent risk management problems I am asked to address. I hope the following will help you address the problem from the right perspective. Put yourself...
A diverse portfolio is a strong portfolio
By CRAIG LAZZARA We can think of an active equity portfolio as a combination of a benchmark (the S&P 500®, for example) and a set of active bets that measure the portfolio’s deviation from the benchmark. The relative size of the active bets is sometimes...
How can we explain momentum returns?
By LARRY SWEDROE Momentum, the tendency of past winner stocks to outperform past loser stocks over the next several months, is one of the most well-documented and well-researched asset pricing anomalies. In our book, Your Complete Guide to Factor-Based Investing, Andrew...
Four lessons from an investing pioneer
By NICK MAGGIULLI Last week, David Swensen, the famed investment manager and Chief Investment Officer at Yale, died at the age of 67 after a long battle with cancer. Swensen, who was the pioneer behind the “Yale model”, revolutionised how endowments...
