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Is Company Size Irrelevant?

Paper results or real-world advantage? Jared Kizer explores whether efficiently managed strategies can, net of fund expenses and trading costs, capture the historically larger value premium found in small-cap stocks. On paper, there is abundant evidence that various return premia have been larger in small-cap stocks compared to large-cap stocks. Table 1, for example, shows …Read More.

The Long-Term Evidence on Factor-Based Investing

Is there reason to believe cross-sectional patterns in returns will persist, even after they’re known? Larry Swedroe reviews a study that explores this question using more than 100 years of factor data from around the world. Factor-based investing seeks to capture the long-term premiums highlighted by academic researchers. Factors are the security-related traits/characteristics that give …Read More.

Helping You Align Your Values and Goals

What do you hold in highest regard? What is it you want most from life? Wealth Advisor Katie Keary explores these questions through a short exercise designed to help harmonize your deepest values and goals, financial or otherwise. By clicking on any of the links above, you acknowledge that they are solely for your convenience, …Read More.

Why Corporate Bonds Aren’t Worth the Risk

Conventional wisdom suggests investment-grade corporate bonds boost risk-adjusted returns. But is it true? Citywire magazine contributor John Coumarianos looks into research on the credit premium from our own Jared Kizer. Conventional wisdom suggests investment-grade corporate bonds boost risk-adjusted returns. But is it true? Citywire magazine contributor John Coumarianos looks into research on the credit premium …Read More.

Lottery Stocks Remain a Losing Game

Given the evidence on the poor performance of lottery-like stocks, why would mutual funds choose to invest in them? Larry Swedroe unpacks research that shows it may have something to do with investors’ economically irrational “taste” for such equities. Among the assumptions in the first formal asset pricing model, the CAPM, are that investors are …Read More.

Building a Better Bond Portfolio

If fixed income is the bedrock of a client’s portfolio, then it better be solid. Investment Strategy Advisor Brian Haywood gives CNBC a look at how credit quality, duration and laddering fit into our evidence-based approach for building bond portfolios. “We think of fixed income as the bedrock of a client’s portfolio. It is there …Read More.

Financial Illiteracy’s High Cost

A recent study explores how a lack of financial literacy can cost investors returns. It’s a great tragedy that despite its obvious importance to everyone, our educational system almost totally ignores the field of finance and investments. This is true unless you go to an undergraduate business school or pursue an MBA in finance. Eighteenth-century …Read More.