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Enterprising Investor Newsletter: Better in Crises: Equal- or Market Cap-Weightings?

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Published by Enterprising Investor on September 11th, 2021 6:15am. 20 views.

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Enterprising Investor Practical Analysis for Investment Professionals   Perpetual Debt Is Already Here As sovereign debt soars ever higher, governments can learn a great deal from recent developments in the private debt markets, Sebastien Canderle explains.     Book Review: 21st Century Investing In 21st Century Investing, William Burckart and Steve Lydenberg, CFA, "argue persuasively that systemic issues have important implications for future returns," writes Matt Lyons, CFA.     From the Archives: Fabozzi — Finance Must Modernize or Face Irrelevancy "Financial economics, in particular, is based on the assumption that economic quantities might deviate from their theoretical value, but that market forces will quickly realign them with theoretical values," Frank J. Fabozzi, CFA, tells Paul Kovarsky, CFA. "This assumption has proved to be inadequate."     Equal- vs. Market Cap-Weighted Portfolios in Stock Market Crashes How have equal- and market-cap weighted US equity portfolios performed relative to one another during downturns? Nicolas Rabener offers his analysis.     Tontines: A Practitioner’s Guide to Mortality-Pooled Investments Tontines and similar mortality-pooled investment arrangements offer a useful and unique value proposition to the global retirement challenge, Richard K. Fullmer, CFA, explains in this brief. Hedge Funds vs. Alternative Risk Premia Alternative risk premia (ARP) are designed to provide low-cost exposures to long–short risk premia often embedded in hedge fund returns. Philippe Jorion describes the performance of the ARP market in the form of bank-provided total return swaps, which are investable strategies that provide after-cost access to ARP. Organizing to Adopt AI and Big Data at Investment Firms This report draws on extensive CFA Institute field research to highlight how investment organizations can put themselves on a path to successful AI and big data adoption.   Stephanie Kelton on Modern Monetary Theory Stephanie Kelton shares here perspective on modern monetary theory (MMT) and how to break free of the myths and misunderstandings about money and the role of taxes, debt, and deficits that have hamstrung policymakers around the world. The War for Talent and the Return to Work Join CFA Institute and investment management industry leaders for this webinar on Thursday, 16 September, 11 am to 12 pm EDT, exploring the changes investment organizations and professionals are likely to make as they reassess the context of careers, the content of work, and the culture of organizations. Speakers include Rebecca Fender, CFA, Carol Geremia, Lori M. Heinel, CFA, and Kunal Kapoor, CFA.   Related Content Capitalism Is Dead, Long Live Debtism No Longer Superheroes? Twilight of the Bonds Geopolitical Risk in Portfolio Management Two Sides of the ESG Debate Are Closer Than They Think Financial Self-Defense: Preventing Fraud and Mischief ETFs: The Systemic Risk Compass       © 2021 CFA Institute. All Rights Reserved. | 915 East High Street | Charlottesville, VA | 22902 | USA

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