The Stock Picker’s Quest for Alpha
Among academics, the active-versus-passive debate often centres on mutual funds. But among DIY investors—who readily concede that mutual funds with high fees are unlikely to outperform an index strate [...]
Among academics, the active-versus-passive debate often centres on mutual funds. But among DIY investors—who readily concede that mutual funds with high fees are unlikely to outperform an index strate [...]
I’ve never been shy about criticizing actively managed mutual funds, but I’m starting to think this debate is getting old. More than that, I feel like it’s driving a wedge between people who should be [...]
Q. Have you ever done any calculations into the optimal time to purchase index funds or ETFs based on broad market indicators? I’m essentially talking about buying during market dips and corrections, [...]
In 1951, a Princeton University student wrote a thesis about the mutual fund industry. “Funds can make no claim to superiority over the investment averages,” wrote the scholar, who would go on to crea [...]
Here's part two of my interview with Jaime Purvis, Executive Vice-President, National Accounts, for Horizons ETFs. (See part one here.) In this conversation, we talked about some of the reasons why in [...]
Monday's post discussed the inner workings of the two swap-based ETFs launched by Horizons in late 2010. Many investors are understandably concerned about the risks involved in these rather complicate [...]
Last fall, Horizons Exchange Traded Funds launched two innovative new ETFs. Rather than simply holding the stocks in the indexes they track, these funds use a derivative called a “swap” to get exposur [...]
Joel Greenblatt has a sense of humour—I’ll grant him that. In The Big Secret for the Small Investor (Wiley, 2011), he pokes fun at the crass title of his previous book, You Can Be a Stock Market Geniu [...]