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Yet More Investing Lessons from 2018

In the third and final installment of his annual look at what the markets taught investors over the prior year about prudent investment strategy, Larry Swedroe concludes his list with 2018’s lessons eight through 11. Every year, the markets provide us with lessons on the prudent investment strategy. I’ve so far covered what they taught …Read More.

Investing Lessons from 2018

In the first installment of his annual look at what markets taught investors over the previous year about prudent investment strategy, Larry Swedroe unpacks lessons one through three from 2018. Every year, the markets provide us with lessons on the prudent investment strategy. Many times, markets offer investors remedial courses, covering lessons it taught in …Read More.

Conflicting Interests in Commercial Banks’ Investment Management

Do the managers of commercial bank-affiliated mutual funds act in ways that serve their parent organizations’ interests at the expense of investors? Larry Swedroe unpacks research into this double agency problem and its affect on funds’ performance. About 40% of mutual funds are run by asset management divisions of groups whose primary activity is commercial banking. This …Read More.

Long/Short Portfolios Can Improve Tax Efficiency

Is the conventional wisdom that equates turnover and shorting with tax inefficiency actually right? Larry Swedroe unpacks research showing that relaxing quantitative tax-aware strategies’ long-only constraint can drastically increase tax benefits. “Conventional wisdom” can be defined as ideas that are so accepted they go unquestioned. Unfortunately, conventional wisdom is often wrong. Two good examples are …Read More.