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Investing Research Articles

2924 Research Articles

Gold Globally

Is gold a hedge and safe haven for other asset classes globally? In their September 2020 paper entitled “Gold as a Financial Instrument”, Pedro Gomis‐Porqueras, Shuping Shi and David Tan explore effectiveness of gold as hedge and safe haven for a variety of international market risks. They define a hedge as an asset with return… Keep Reading

Weekly Summary of Research Findings: 10/5/20 – 10/9/20

Below is a weekly summary of our research findings for 10/5/20 through 10/9/20. These summaries give you a quick snapshot of our content the past week so that you can quickly decide what’s relevant to your investing needs. Subscribers: To receive these weekly digests via email, click here to sign up for our mailing list.

Asset Class ETF Interactions with the Yuan

How do different asset classes interact with the Chinese yuan-U.S. dollar exchange rate? To investigate, we consider relationships between WisdomTree Chinese Yuan Strategy (CYB) and the exchange-traded fund (ETF) asset class proxies used in the Simple Asset Class ETF Momentum Strategy (SACEMS) and the Simple Asset Class ETF Value Strategy (SACEVS) at a monthly measurement… Keep Reading

Asset Class ETF Seasonalities?

Do exchange-traded funds (ETF) that track asset classes, such as those used in the Simple Asset Class ETF Momentum Strategy (SACEMS) and the Simple Asset Class ETF Value Strategy (SACEVS), exhibit reliable seasonalities? To check, we look at average return by calendar month for the following nine ETFs: SPDR S&P 500 (SPY) iShares Russell 2000… Keep Reading

Choosing Investment Managers Poorly?

Do sophisticated investors choose investment managers wisely? In their July 2020 paper entitled “Choosing Investment Managers”, Amit Goyal, Sunil Wahal and Deniz Yavuz investigate how institutional investors select investment managers for public equity and fixed income portfolios. For each actual selection, they construct a group of non-selected investment managers competing in the same geographic region,… Keep Reading

Are Hedge Fund ETFs Working?

Are hedge fund-oriented strategies, as implemented by exchange-traded funds (ETF), attractive? To investigate, we consider six ETFs, all but one currently available (in order of inception dates): IQ Hedge Multi-Strategy Tracker (QAI) – seeks to track, before fees and expenses, risk-adjusted returns of a collection of long/short equity, global macro, market neutral, event-driven, fixed income arbitrage and… Keep Reading

From Irrational to Expressive and Emotional

Are typical investors persistently irrational in pursuit of wealth, or pursuing more than wealth? In his December 2019 book entitled Behavioral Finance: The Second Generation, Meir Statman describes and discusses second-generation behavioral finance, which replaces (1) pursuit of wealth persistently retarded by cognitive shortcuts and emotional biases with (2) pursuit of normal wants including financial… Keep Reading

Weekly Summary of Research Findings: 9/28/20 – 10/2/20

Below is a weekly summary of our research findings for 9/28/20 through 10/2/20. These summaries give you a quick snapshot of our content the past week so that you can quickly decide what’s relevant to your investing needs. Subscribers: To receive these weekly digests via email, click here to sign up for our mailing list.

SLV vs. GLD

How are behaviors of gold and silver exchange-traded funds (ETF) similar and different? To investigate we consider iShares Silver Trust (SLV) versus  SPDR Gold Shares (GLD). Using daily returns for SLV, GLD and the S&P 500 Index (SP500) during late April 2006 (limited by SLV) through early September 2020, we find that:

GDX and GDXJ vs. GLD

How are behaviors of physically backed gold and gold miner exchange-traded funds (ETF) similar and different? To investigate we consider each of Market Vectors Gold Miners (GDX) and VanEck Vectors Junior Gold Miners ETF (GDXJ) versus SPDR Gold Shares (GLD). Using daily returns for GDX since May 2006 and GDXJ since November 2009, and contemporaneous… Keep Reading