What’s in a Fund Name?

June 4, 2019

Most of the focus of the literature on active mutual funds has been on the question about their performance and the related issue about whether or not active fund managers have skill. On the other hand, the composition and characteristics of mutual fund portfolios have largely been ignored. Read More...

Post-WWII U.S. Stock Returns and the Triumph of Optimism

May 29, 2019

Investors in U.S. equities have been well-rewarded in the post WWII era. For example, over the 70 calendar years from 1949 through 2018, the S&P 500 Index returned 11.24%. And with inflation rising 3.41%, it provided a real return of 7.83%. Read More...