Investment Management

The Investment Setting
  1. Individual and Institutional Holdings
  2. Fund Performance versus Fund Stock Prices
  3. Fund Brand Names
  4. What Funds should disclose
Risk and Utility: Basics
  1. What is risk?
  2. A Measure of Risk Tolerance
Models of Risk
  1. Types of Risk 
  2. Risk and Time Horizon
Alternative Measures of Risk
  1. Volatility and Risk
Tax Considerations in Investing
  1. The Tax Efficiency of Funds
  2. Minimizing the Tax Effects of Fund Distributions
Global Management and Asset Allocation
  1. A Case Against Diversification
  2. Emerging Markets as a Diversification Tool
  3. Commodities to Diversify
  4. An Armchair Diversification Strategy
  5. Are you over diversified?
  6. Concentrated Funds
  7. A Case Against Global Diversification
  8. A Case for Global Diversification
Active Asset Allocation and Market Timing
  1. The Importance of Asset Allocation
  2. The Cost of Being Out of the Market
  3. Mutual Fund Cash Positions
  4. Greenspan on Market Timing
  5. A Poll of Money Managers
  6. Market Neutral Mutual Funds
  7. A Warning on the Market
  8. A Technical Warning on the Market
  9. Is the market's PE too high?
  10. Why investors are active
Asset Selection
  1. The Effect of Information: The Case of Insider Trades
Investment Strategy
  1. A Test of Market Rationality
  2. Relative Strength: Key to Returns
  3. The Appeal of Indexing
  4. A Warning on Indexing
  5. The Effect of Indexing
Trading Costs
  1. The Effect of Online Trading
  2. Turnover Ratios and Trading Costs
  3. Mutual Fund Expenses
Hidden Costs of Trading
  1. The Cost of Trading
  2. Bid-Ask Spreads in the OTC Market
Managing Portfolio Risk
  1. Index Instruments to Manage Risk
Evaluating Investment Performance
  1. The Laggards among Mutual Funds
  2. The Leaders among Mutual Funds
  3. Fund Rankers
  4. The Ten Largest Funds in 1997
  5. What Funds should report about performance..
  6. More on Fund Reporting
  7. Measuring the Performance of Hedge Funds
  8. The Philosophy of Hedge Funds
  9. The Effects of Fund Size on Performance
  10. The Effect of Survivor Bias
Taxes and Performance Evaluation
  1. Fund Distributions
  2. Year End Taxes on Fund Returns
Corporate Governance
  1. The Effects of Hostile Takeovers
  2. The Effects of Spinoffs
  3. The Restructuring of Chase
  4. GM: A Restructuring Candidate