2021 Archives

Volume 19, No. 1, First Quarter 2021

Practitioner’s Digest

ARTICLES

Insights: Active Investing and the Efficiency of Security Markets
Russ Wermers

Investment Style Volatility and Mutual Fund Performance
Keith C. Brown, W. V. Harlow and Hanjiang Zhang

Lending to Lose: Who Buys Negatively Yielding Bonds and What it Means for Investors
Vineer Bhansali

Idiosyncratic Risk and When to Tilt Toward Value
Jason D. Fink and Kristin E. Fink

Comovement, Liquidity and Asymmetries
James X. Xiong

Case Study
Seoyoung Kim

Beyond Diversification: What Every Investor Needs to Know About Asset Allocation
By Sébastien Page (Reviewed by Cel Kulasekaran)

Volume 19, No. 2, Second Quarter 2021

Practitioner’s Digest

ARTICLES

Asset Pricing, Asset Allocation and Risk-Adjusted Performance with Multiple Goals and Agency: The Goals and Risk-Based Asset Pricing Model
Arun Muralidhar

Active Investing as a Negative Sum Game: A Critical Review
Geoffrey J. Warren

What Happens with More Funds than Stocks? Analysis of Crowding in Style Factors
and Individual Equities
Ananth Madhavan, Aleksander Sobczyk and Andrew Ang

The Magic Formula: Value, Profitability, and the Cross-Section of Global Stock Returns
Douglas W. Blackburn and Nusret Cakici

Book Review: The Financial Ecosystem — The Role of Finance in Achieving Sustainability
by Satyajit Bose, Guo Dong and Anne Simpson (Reviewed by Hui (Stacie) Wang)