Posted In: Alternative Investments, Best Of, Coronavirus, Drivers of Value, Economics, Equity Investments, Fixed Income, History & Geopolitics, Leadership, Management & Communication Skills, Performance Measurement & Evaluation, Portfolio Management, Standards, Ethics & Regulations (SER)
Don’t abandon valuation fundamentals during the COVID-19 crisis, says Aswath Damodaran: “It is precisely times like these that they matter most.” Julie Hammond, CFA, discusses insights from Damodaran’s presentation at the 73rd CFA Institute Annual Virtual Conference.
Should we ignore claims that one political party or another is better for markets? Joachim Klement, CFA, sifts through the evidence.
“Stocks rallied because . . . ” Many types of financial news stories are best avoided. Binod Shankar, CFA, identifies those that most deserve to be ignored.
“Superior investing has to come from correct idiosyncratic decisions,” Howard Marks, CFA, told John Authers at the 73rd CFA Institute Annual Virtual Conference. Peter M.J. Gross considers Marks’s vantage point.
What do speeches by President Jimmy Carter and John Belushi’s Bluto Blutarsky say about today’s economy? Emil Kalinowski, CFA, gives his take.
The golden age of fixed income is over, Mark Armbruster, CFA, writes. That means we have to rethink portfolio management and risk control.
Does market history offer any parallels to today’s novel coronavirus crisis? Laurence B. Siegel weighs in.
“This time is different” might be the four most dangerous words in investing. “Uncorrelated returns” may just be the two most lucrative. So does private equity actually offer any? Nicolas Rabener examines the data.
“In and of themselves, upside-down rates — almost exclusively restricted to the sovereign bonds space — do make sense,” Emil Kalinowski, CFA, writes. “They reveal the high cost of staying solvent.”
Private equity and venture capital performance-enhancing techniques are not just different, says Sebastien Canderle, they are precise opposites.
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All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.
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Tags: Alternative Investments, Aswath Damodaran, bonds, central banking, CFA Institute Annual Conference, Coronavirus, equities, fixed income, Howard Marks, Investment Management Strategies, Monetary Policy, Negative Interest Rates, Portfolio Management Techniques, Private Equity, stocks, valuations, Venture Capital
Paul McCaffrey is the editor of Enterprising Investor at CFA Institute. Previously, he served as an editor at the H.W. Wilson Company. His writing has appeared in Financial Planning and DailyFinance, among other publications. He holds a BA in English from Vassar College and an MA in journalism from the City University of New York (CUNY) Graduate School of Journalism.