Regular readers know that when Research Affiliates’ Rob Arnott speaks, I pay attention.
The Wonderful World of Yield, Illustrated
Chart.
Michael Kitces: Measuring the Value of Active Management
How do we determine the “value” of active management?
All-Robot Heavy Metal Band
Video.
Fund Flows and the Positive Feedback Loop
One of the things people should understand about the effect that historical returns have on large-scale rotations, especially in the institutional sphere of investment management, is that the 3-year number trumps all. It is the major performance measure that goes into the decision-making process (alongside risk-reward, valuation etc) when shifts of allocation are being considered….
Hot Links: Wonk Alert
Your morning financial links, expertly curated.
Will Ferrell and Ryan Gosling: Knife Guys
Video.
‘Trance’ Trailer Hits
Video.
Your Guide to the Next 150 Years
Infograph.
Whole Lotta Helter Skelter: Beatles-Zeppelin Mashup
I GOT BLISTERS ON ME FINGERS!