September 25, 2015
In an extension of prior work, we find that positions based on an increase in the ten-year Treasury yield have resulted in a loss more often than a gain.
By Bob CollieSeptember 18, 2015
The framing effect is the tendency for people to perceive similar outcomes differently, depending on how they are framed. It is hard for institutional investment programs to completely avoid this effect. Consider currency.
By Bob CollieSeptember 10, 2015
A couple of weeks ago, I noted that economies and investment markets are not machines, and don’t behave like them. One of the features that distinguishes complex systems from physical systems is the role played by feedback.
By Bob CollieSeptember 3, 2015
At the Russell Investment’s institutional summit, held earlier this year in New Orleans, we polled attendees on their views about making retirement saving mandatory.
By Bob CollieAugust 27, 2015
It would be easier to make sense of occasional bouts of market turbulence if we thought of markets as biological systems rather than machines.
By Bob CollieAugust 19, 2015
A “low fee exemption” from the proposed new fiduciary rule could create a material conflict of interest for advisors.
By Bob CollieAugust 13, 2015
The Dietz Method is a basic element of every investment analyst’s education, and lies behind just about every one of the millions of performance calculations carried out every day. Taken as a given in today’s investment world, it was not always seen as obvious.