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Investor demographics: how wealth, age and gender affect decisions

      By LARRY SWEDROE   To determine whether investor demographics provide information as to the holdings of their portfolios, Sebastien Betermier, Laurent Calvet, Samuli Knüpfer and Jens Kvaerner, authors of the February 2022 study What Do the Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?, examined the stockholdings of 365,000...

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Bad times are good times to talk about money and happiness

    In their forthcoming book How To Fund The Life You Want, Robin Powell and Jonathan Hollow focus on happiness and purpose as the drivers to save for the future. But does that work in the tough times we’re living in? JONATHAN...

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The impact of ESG uncertainty on asset prices

    By LARRY SWEDROE   While environmental, social and governance (ESG) objectives are increasingly becoming a primary focus in asset management, investors often confront a substantial amount of uncertainty about the true ESG profile of a firm. Demonstrating the point, the authors...

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The active manager who stopped believing

    By ROBIN POWELL   It takes courage and integrity to admit that something you’ve believed in for more than 30 years, and that you’ve built your entire career on, is in fact a myth. And that’s just what Dennis Davitt has...

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Is democracy good for stock market returns?

    Most people, given the choice, would prefer to live in a democracy. But what does democracy mean for equity returns? Do stock markets in democratic countries deliver better returns than those in countries with autocratic leadership? LARRY SWEDROE examines the academic...

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Understanding risk, Part. 2: Liquidity

    By PATRICK CAIRNS   Many investors underestimate how important liquidity is, and the risks they face when it isn’t there.    How do you know the price of any asset? For the big shares on the stock market it is easy....

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How have hedged mutual funds performed since the GFC?

    By LARRY SWEDROE   Hedged mutual funds (HMFs), or long/short funds, are the fund industry’s answer to illiquid hedge fund strategies. The premise of long/short funds is that the managers can apply their security selection skills to a broader opportunity set...

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