A new study from Dimensional Fund Advisors reviewing the mutual fund industry highlights the low probability game investors and their advisors play when they attempt to select the best active
“The narrative fallacy addresses our limited ability to look at sequences of facts without weaving an explanation into them, or, equivalently, forcing a logical link, an arrow of relationship upon
A recent Wall Street Journal article, “New Fund Stars Ride Junk Bonds to the Top”, profiles several bond funds which have drawn in large sums of investor assets since the
In a recent white paper, “Vanguard – Quantifying Advisor Alpha“, mutual fund company Vanguard attempts to quantify the added value of the “passive” investment advisor. They estimate the value at
In a recent Institutional Investor article, authors Clifford Asness and John Liew, offer an interesting and entertaining look at the evidence for and against market efficiency. Their article takes turns
Is it a coincidence that seemingly every prospective client’s taxable account currently managed by a brokerage firm includes the same two security types; expensive actively-managed equity mutual funds and individual
Ian A. Post, CFA, CFP®
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