More on Related Themes
2012-06-05 The Father of Efficient Markets: Is Warren Buffett Smart or Lucky? (Video) by Dan Richards (Article)
Eugene Fama is generally regarded the father of modern finance. His research has expanded upon the capital asset pricing model to identify the value and small-capitalization contributions to risk. Dan Richards spoke with him on May 1, the day before his guest talk at the CFA Institute annual meeting. This is the video of the interview.
2012-01-24 The ETF Landscape: A Look Back at 2011's ETF Flows by Jennifer Grancio (Article)
In 2011, $150 billion flowed into exchange traded products globally, with one of every three new dollars being allocated to fixed income funds. In this video, Jennifer Grancio, head of Global Business Development for iShares, explains the factors that drove this trend and how investors are using ETPs to actively manage their fixed income portfolios.
2011-08-09 Debunking Four Common Target-Date Fund Misconceptions by American Century Investments (Article)
Despite their growing popularity, target-date funds are still not entirely understood. Learn the answers to four of the most common misconceptions from our investment professionals in this new white paper.
2011-06-28 Smart Risk Taking: Realigning Client Portfolios with Their Long-Term Goals by American Century Investments (Article)
The financial crisis sparked widespread flight from risk. Although the crisis is over and equity prices have rebounded, many investors have not yet returned to the capital markets. For them, the safe-haven appeal of money market funds remains strong. In this paper, American Century Investments® proposes a strategy of "smart risk taking," an active asset management approach that seeks to identify, understand, manage, and be consistently rewarded for risk.
2010-07-06 Currency Management Series - Part Two: Currencies as an Asset Class and Source of Alpha by John Lovito and Federico Garcia Zamora (Article)
Active currency management allows professional managers to extract alpha on a consistent basis. Two members of American Century Investments' management team explain why, despite being one of the most liquid markets, global currencies remain inefficient. We thank them for their sponsorship.
2010-02-23 The $2 Million Charity Challenge to Active Investors by David B. Loeper, CIMA, CIMC (Article)
Dave Loeper of Wealthcare Capital Management responds to last week's $100,000 challenge to passive managers by Roger Schreiner. Loeper says Schreiner "stacked the deck" to make his challenge un-winnable, and instead offers his own challenge to active management advocates.
2010-02-16 The $100,000 Challenge to Passive Managers by Roger J. Schreiner (Article)
In this guest contribution, money manager Roger Schreiner challenges passive management advocates. He will wager $100,000 that, through active management, can outperform any passive buy-and-hold portfolio net of fees.
2009-11-10 Investment Viewpoints - September 2009: Four Reasons to Emphasize Active Investment Management by Enrique Chang and Scott Wittman (Article)
Since the onset of the global financial crisis, there has been an increasing number of articles in financial journals and the financial press pointing out that actively managed investments of all types did not fare well relative to passive investment strategies. In this article, American Century Investments provides four fundamental reasons why those who have forecast the demise of active investment management are mistaken, in part due to one of the most common errors of behavioral finance-the Recency Effect. We thank them for their sponsorship.
2009-11-03 More on the Fama-French Farewell Tour by Various (Article)
Tom Howard responds to two letters to the Editor in last week's issue, which follow-up our article on the latest Fama-French study defending passive management. Howard says there is plenty of academic evidence of "plain old stock-picking skill."
2009-06-16 Peter L. Bernstein Remembered by Robert Huebscher (Article)
The investment industry lost one of its leaders last week, when Peter L. Bernstein passed away at the age of 90. As an author, Bernstein provided clarity and insight to our understanding of risk and the way markets operate, through his books and his newsletter, Economics and Portfolio Strategy. We are republishing our interview with him last January, when he foresaw many of the elements of the current crisis.
2009-05-12 The Well-Meaning by Michael Lewitt (Article)
We are once again privileged to publish the latest version of the HCM Market Letter, edited by Michael Lewitt. Lewitt's analysis and writing are a cut above virtually everything else we see, and you will enjoy reading his latest thoughts. You can also subscribe directly to his newsletter using the link at the beginning of the article.
2009-05-05 Letters to the Editor by Various (Article)
We touched a few nerves last week with our critique of Standard and Poor's SPIVA study, where we raised doubts about S&P's claim that passive management does better in bull markets than in bear markets. We publish letters from two of our more vocal critics, along with our response.
2009-04-28 Active versus Passive Management in Bear Markets by Robert Huebscher (Article)
Nobody needs an active manager in a bull market - an index fund will do just fine. But active managers earn their keep in bear markets, and the current one represents another chance to see whether they add value. We review Standard & Poor's SPIVA study to see whether it answers this very important question.
