Published estimates suggest inflation has been nonexistent despite extended, near-zero interest rates and a near doubling of the M2 private money supply since the recession. But those estimates are misleading, says Brodie Gay.
Cheap exchange-traded funds (ETFs) and smart beta products are no substitutes for active management, says Ziad Abou Gergi, CFA. But the manager-selection industry needs to adapt to the changing environment and investors’ price sensitivity.
Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries, writes Joachim Klement, CFA.
Daniel Blais, CFA, introduces a new metric to help identify and differentiate those investment managers who achieve alpha through skill and those who generate it by luck.
For retirees, success means, in part, not outliving their money. Two recent studies shed insight on how advisers can help clients accomplish that, Isaac Presley, CFA, reports.
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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: active management, economics, equities, ETFs, financial analysis, Inflation, Investment Decision Making, Investment Industry, Investment Products and Asset Classes, Markets and Economics, Monetary Policy, United States, US Federal Reserve
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.