Investing Research Articles

…new mutual funds appear to enjoy initial outperformance by taking on innovative risk.

…gain-loss spread (expected gain minus expected loss) is a simple, intuitive measure of investment risk at least as useful as standard deviation.

…investors seem to have left the Fed model for dead.

…momentum and contrarian ETFs based on long-only partitions of broader indexes might offer individual investors practical and diversified access to the momentum factor, and to the associated longer-term contrarian reversal.

…lifecycle investors will generally achieve greater terminal wealth using interim success-based dynamic stocks/fixed income allocation rules than using pre-determined shifts away from stocks and toward fixed income.

…spectral analysis confirms the probable existence of U.S. stock market cycles that coincide with election cycles.

…investors/traders may be able to enhance market timing results by focusing on the most predictable styles/industries (for example, via exchange-traded funds).

…hedge fund investors should recognize that many funds generate “alpha” by taking liquidity risks that make converting assets to cash difficult.

…relative demand for a stock peaks at $xx.99, while relative supply peaks at $xx.01, suggesting resistance to crossing dollar thresholds.

…the value premium among stocks is persistent across value indicators, time, market capitalizations and geographical markets.