The S&P 500 Goes Supernova
It’s hard to imagine how the S&P 500’s excess returns could be anywhere near as high over the next decade as they have been recently.
Re-Examining Emerging Markets Equity
In this post, we’ll look specifically at emerging markets by examining five lessons from long-run and current market data that reinforce some of the reasons investors should remain committed to emerging markets equity investing.
Maintaining a Globally Diversified Portfolio
Jared Kizer looks at five reasons why you should remain committed to a globally diversified approach.
Inverted Yield Curves and Future Equity Returns
Investors and advisors alike are curious about the implications of a potentially inverted yield curve and stock [...]
Is Company Size Irrelevant?
On paper, there is abundant evidence that various return premia have been larger in small-cap stocks [...]
What You Need to Know About Brexit
Britain is leaving the EU. Now what? Jared Kizer on what the Brexit vote means for the markets and your portfolio.
What to Make of 10-Year Small-Cap and Value Results
Ken French’s recently updated global factor data shows the global size and value premiums were basically flat for the past 10 years (the value premium was actually about –1 percent per year over this span). This long-term historical result has surprised many people and naturally led some to ask whether these premiums can be expected in the future. Figure 1 graphs the one-, three-, five-, 10-, 15- and 20-year average size and value premiums using the global data set.
An Analytical Evaluation of Rising Glidepath Claims
Last year, a piece by Michael Kitces and Wade Pfau made the claim that mechanically increasing the equity allocation during retirement — which they term a “rising glidepath” — could reduce the likelihood that...
Additional Thoughts on the Rising Glidepath Approach
https://player.vimeo.com/video/107091798
Smart Beta Can Be Smart But Is Not New
I held off writing about smart beta strategies as long as I could. The world, after all, is awash in such pieces. I couldn’t ignore it any longer, though, because virtually every piece I’ve read that’s critical of smart beta misses one fundamental point: The term “smart beta” may be new (and has certainly been effective from a marketing perspective) but the underlying strategies themselves are not.