Cited By

Are 'short-termism' and 'quarterly capitalism' still a thing?

Hillary Clinton actually did have an economic message, not that she effectively delivered its various versions. One interesting component was opposition to “quarterly capitalism.”

Corporations Need a New Reason to Be

Bloomberg

Publicly traded corporations are at something of an impasse in the U.S. Their numbers are shrinking: from 7,507 in 1997 to not much more than 3,500 now. Their ranks are getting top-heavy, with most profits and cash flow accruing to a shrinking group of giants.

Keep the Faith

Jonathan Clements

Foreign stocks have become the investment that folks love to hate—and it’s easy to understand why.

Swedroe: The Truth About Stock Prices

ETF.com

In the last few weeks, I’ve unpacked studies addressing both the nominal price illusion and the nominal price premium. So today I’ll answer a related question: Do nominal stock prices really matter?

Business Insider

The Stock Market is Vanishing

The stock market isn't what it used to be.  As noted by Steven DeSanctis, equity strategist at Jefferies, the sheer number of companies listed on stock exchanges has been dropping off precipitously.

Insights

Dimensional Fund Advisors Grapples With Its Future

Institutional Investor

The smart beta pioneer now manages $445 billion in assets. But can the privately held firm survive its original team?

This Basically Anonymous Fund Manager Oversees $800 Billion

Take a rare look behind the scenes at an index fund with Vanguard's Gerry O'Reilly, manager of the world's largest mutual fund.

Academic Finance as a Check on Pretensions Enterprising Investor

Investment professionals recognize that the markets are messy places, filled with less than rational participants. From their perspective, this can obviate any further discussion about the value of academic finance and its models.

How Readers Discover Content in Scholarly Publications

Trends in reader behavior from 2005 to 2015 by Tracy Gardner and Simon Inger 

Seven Things Every Researcher Should Know About Scholarly Publishing

This is a recent collaborative post on the scholarly kitchen, authored by Alice Meadows and Karin Wulf.  

News

The Dying Business of Picking Stocks

Passive investing has become investors’ default, driving billions into funds that track indexes. It’s transforming Wall Street, corporate boardrooms and the life of the neighborhood broker.

Why Investors Need to Stop Distrusting Wall Street

Few people realize that since the bursting of the tech bubble from 2001-2003, the stock market has had positive total returns, as measured by the total market indexes of MSCI and CRSP, in every calendar year except 2008.  That record was intact again in 2015 as the CRSP total market index provided an admittedly minuscule, but still positive, return of 0.40%.  

Why Index Investing Wins

J.B. Heaton, Nick Polson and J.H. Witte recently authored a nice short paper—it’s all of four pages—entitled “Why Indexing Works.” In it, the authors developed a simple stock selection model to explain why active equity fund managers tend to underperform their benchmark index.

90 Years of asset returns in 30 Seconds

Since 1960, CRSP has curated the research-quality market data included in the US Stock Database, which begins in December 1925. With the help of our partners at Investments Illustrated, the nine decades of prices and returns are compressed into this unique graphical presentation. For more illustrations of investment risk and return, please visit our Investments Illustrated Charts resources page.