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Active Management’s Impact on Returns and Volatility

After unpacking new research into how expense ratios and turnover impact returns and their dispersion, Larry Swedroe explores how the study’s findings inform what we know about active mutual funds, active share, and volatility. A vast body of research provides powerful evidence of the failure of active management to generate persistent alpha (risk-adjusted outperformance). For …Read More.

‘Passive’ Market Efficiency Works

Over the past few decades, there has been a substantial shift from active to passive investment strategies. Larry Swedroe unpacks new research into its potential repercussions for liquidity, volatility and market efficiency. Over the past few decades, there has been a substantial shift from active to passive investment strategies. Active strategies give managers discretion to …Read More.

Does Money Buy Happiness?

Behavioral research has found that happiness tends to increase along with income—up to a point. Larry Swedroe looks at why understanding how wealth affects happiness can play such an important role in retirement planning. There’s a cliché that money can’t buy happiness. Is that true? Thanks to research from Nobel Prize-winning economist Daniel Kahneman and …Read More.

R.I.P. Book Value?

Using book value to sort stocks into value and growth categories has come under assault. Given the questions this may raise, Jared Kizer explores whether price/book as a value measure truly is discernibly inferior to other common metrics. If you’re familiar with factor investing, you’re likely aware that value investing, particularly in the U.S. market, …Read More.

Index Investing’s Market Impact

In a look at the latest literature, Larry Swedroe unpacks new research into the impact that the rise of passive investing has had on securities lending, which plays an important role in stock market efficiency. Over the past few decades, there has been a substantial shift from active to passive investment strategies. The shift has …Read More.

The Risk Warrior

In the most recent Investment Advisor cover story, Janet Levaux sits down with Larry Swedroe to get his latest thinking on asset allocation and portfolio diversification. Janet Levaux, editor-in-chief with Investment Advisor, sits down with Larry Swedroe to get his latest thinking on asset allocation and portfolio diversification. Find it on InvestmentAdvisorDigital.com By clicking on …Read More.