The document discusses strategies for creating an investment portfolio based on Nobel Prize-winning academic research. It recommends structuring portfolios to take advantage of factors like company size, relative price, and profitability that have been shown to increase returns. Specifically, it suggests investing more in small and value stocks, as both have higher returns than large or growth stocks over the long run. The document also provides examples of model portfolios that diversify across global stock and bond index funds targeting these factors.
Strategy&’s 15th annual study of CEOs, Governance, and Success highlights the value lost by poor CEO succession planning and what companies can gain by better planning.
Strategy&’s 15th annual study of CEOs, Governance, and Success highlights the value lost by poor CEO succession planning and what companies can gain by better planning.
There's a reason why 6 out of 10 of the top performing hedge funds are quant firms, and on a typical trading day 90% of trades are made by computers . In the next decade quantitative investing will become THE way to invest. Don't get left behind, learn how to use algorithms to invest.
Have you ever looked at the news, or at a company’s results, and have had no idea what they mean or how to interpret it?
You know there’s information lurking deep down in the results that you could use to profit from, but you’re never sure where to look. Or exactly what to look at!?
And with reporting season around the corner, just imagine the profit opportunities you could uncover before any other investor if you knew how.
That’s why I want to give you the reporting strategy that you could use to read financial results like a pro.
4 things to look for before investing in a stock.Stocks, stock market, business, investing. More about stock market at https://www.thestockmarketontheinternet.com
*Ratios provide a quick and simple means of assessing the financial health of a business
*Ratio relates one figure, say Net Profit, to another figure from the financial statements, say per employee
*Ratios summarise quite complex data into a small number of key indicators
*Ratios enable comparison of different businesses
*Ratios overcome issue of difference in scale of businesses
We've put together the ultimate trading blueprint, and you need to get your hands on it!
In it we’re going to show you:
• How you can spread your risk so blowing your account is never an option
• The money management secrets the world’s elite traders have used for decades
• The exact the tools you need to be using to make the returns once only reserved for professional traders
• How diversifying your trading account could help you survive any market condition
• And much more…
Simply watch the presentation and find out how you can kick-start your trading career with our five step trading blueprint!
English rules
- Finance
- Science and technology
- Universities
- Advertising
- Computing
- Publishing industry
- Entertainment
- International organisations
- International transportation
- Interpreting and translation
Structured Investing In An Unstructured WorldRobert Davis
Structured Investing is based on 80+ years of financial market data, Nobel Prize-winning economic research, and in-depth studies of investor psychology and behavior.
There's a reason why 6 out of 10 of the top performing hedge funds are quant firms, and on a typical trading day 90% of trades are made by computers . In the next decade quantitative investing will become THE way to invest. Don't get left behind, learn how to use algorithms to invest.
Have you ever looked at the news, or at a company’s results, and have had no idea what they mean or how to interpret it?
You know there’s information lurking deep down in the results that you could use to profit from, but you’re never sure where to look. Or exactly what to look at!?
And with reporting season around the corner, just imagine the profit opportunities you could uncover before any other investor if you knew how.
That’s why I want to give you the reporting strategy that you could use to read financial results like a pro.
4 things to look for before investing in a stock.Stocks, stock market, business, investing. More about stock market at https://www.thestockmarketontheinternet.com
*Ratios provide a quick and simple means of assessing the financial health of a business
*Ratio relates one figure, say Net Profit, to another figure from the financial statements, say per employee
*Ratios summarise quite complex data into a small number of key indicators
*Ratios enable comparison of different businesses
*Ratios overcome issue of difference in scale of businesses
We've put together the ultimate trading blueprint, and you need to get your hands on it!
In it we’re going to show you:
• How you can spread your risk so blowing your account is never an option
• The money management secrets the world’s elite traders have used for decades
• The exact the tools you need to be using to make the returns once only reserved for professional traders
• How diversifying your trading account could help you survive any market condition
• And much more…
Simply watch the presentation and find out how you can kick-start your trading career with our five step trading blueprint!
English rules
- Finance
- Science and technology
- Universities
- Advertising
- Computing
- Publishing industry
- Entertainment
- International organisations
- International transportation
- Interpreting and translation
Structured Investing In An Unstructured WorldRobert Davis
Structured Investing is based on 80+ years of financial market data, Nobel Prize-winning economic research, and in-depth studies of investor psychology and behavior.
EY French Venture Capital Barometer - Annual results 2015EY
The EY French Venture Capital Barometer identifies financing operations in equity of companies in their creation phase or during their first years after creation, from 1st of January to 31st of December 2015, published before the 14th of January 2016.
OTCQX: The Clear Advantage -- Research StudySaskianna
OTC Markets Group commissioned strategic advisory firm Oxford Metrica to conduct an independent study examining the impact of trading on OTCQX, the top U.S. over-the-counter (“OTC”) market, in terms of share liquidity, bid-ask spreads, broker-dealer coverage, and investor perception.
The study evaluated all securities that traded on OTCQX for at least three months during the three years prior to October 31, 2015, a total of 397 primary securities with $1 trillion in combined market capitalization. Liquidity was analyzed for the six months prior to joining OTCQX compared with the subsequent six months.
IR 2.0 International Benchmark Study / University of LeipzigKristin Koehler
The cross-national IR 2.0 study conducted by the University of Leipzig / Department Communication Management in summer 2011 focused on company-owned investor relations websites as well as Twitter, Facebook, YouTube and SlideShare usage for IR purposes by the 150 largest companies listed in DAX, CAC, FTSE, DJIA and Nikkei. The content analysis revealed usage patterns and identified tools, topics, and intensity of use, dialogical approaches and functions. An engagement index offered the possibility for ranking lists within the indices as well as among the different countries. Additionally, the influence of industrial sectors or sales markets was tested.
Empirical study investigating how corporations in the United States, Germany, United Kingdom, France, and Japan use social media for financial communications, both on their own websites and on external platforms including mobile channels. Global benchmark of 190 companies including the 150 largest firms listed on DJIA (Dow Jones Industrial Average, USA), FTSE (Financial Times London Stock Exchange Index, UK), CAC (Cotation Assistée en Continu quarante, France), DAX (Deutscher Aktien-Index, Germany), NIKKEI (Nihon Keizai Shimbun Index, Japan), as well as the top 10 companies in regard to market cap, and the top 10 companies in regard to performance of the US mid- and small-cap indices Russell Midcap and Russell 2000. As the third annual study in a row, this research provides longitudinal data and in-depth analysis based on content analysis and statistical evaluation. Authors: Ansgar Zerfass and Kristin Koehler, University of Leipzig, Germany
WE BELIEVE that our Eighth Core Portfolio investment strategy provides the answers to the previously mentioned issues and offers a truly balanced approach to investing.
Equities, bonds, real estate and commodities are four asset classes that cover the core of any asset allocation process. The Eighth Core Portfolio is based on the idea that, during any given stage of a global investment cycle, money will flow across these assets, thereby affecting their performance. Rather than time the entry into the outperformer and the exit from the underperformer the Eighth Core Portfolio invests globally across all four in equal measure thereby ensuring that it participates in the best asset class in any environment. Over the investment period a constant exposure is maintained in order to avoid any outperforming asset class becoming a drag when the market turns.
This balanced approach is designed to produce medium to long term returns which exceed those of nominal cash returns. Historical evidence shows that this strategy has had proven outperformance in various timeframes and in all environments (see Tables 1 to 3) More importantly it minimizes volatility by taking advantage of the low correlations between the individual asset classes (see Table 4).
10 Key principals of using evidence investing to improve your odds of success in reaching your goals. This includes embracing the market and using diversification.
The Cogent Advisor, and independent wealth manager in Chicago helping successful professionals simplify their complex financial lives and reach their goals. 312-382-8388. www.thecogentadvisor.com.
Can Small Cap Stocks Weather the Storm?Susan Langdon
With recession concerns intensifying in the wake of the COVID-19 pandemic, investors may be wondering whether small cap stocks are poised to struggle. Are small companies more vulnerable now than they have been during other periods of economic distress? And what are the implications for the size premium?
Stop Wasting Your Money & Start Having a Better Investment ExperienceAndreas Scott, CFP®
To have a better investment experience, people should focus on the things they can control. If you follow these ten steps you will have a better investment experience.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
1. The Abacus Investment Approach
Investing globally and including real estate potentially provides a
higher more stable return than using stocks and bonds alone
It is possible for an investment portfolio to create positive social
and environmental impact without sacrificing financial returns
Include low cost, diversified strategies (like index funds, only better)
Invest more in small stocks and under-valued stocks, because
both have been shown to increase returns over time
Build a disciplined and thoroughly researched investment
program based on Nobel-Prize-winning academic research
instead of emotions and hot tips
2. The striped areas
show how many funds
were still in business.
During the ten year
period, only 52% of
funds survived.
Even worse, the blue
box is the number of
funds that both
survived and beat
their benchmark, only
19% over the ten year
period.
So, how do you
identify one of the
19%?
So you agree that avoiding hot tips makes sense. How do you choose an investment manager?
This chart shows that over time, it’s very difficult to pick a manager that stays in business and
outperforms their benchmark. The grey boxes represent the total mutual fund population that
existed one, five, and ten years prior to 12/31/13. The first question is, how many of these funds were
still around at the end of 2013?
Find a good money manager!
Beginning sample includes funds as of the beginning of the one-, five-, and 10-year periods ending in 2013. The number of beginners is indicated below the period label. Survivors are funds that were still in existence as of December
2013. Non-survivors include funds that were either liquidated or merged. Outperformers (winners) are funds that survived and beat their respective benchmarks over the period. Past performance is no guarantee of future results.
See Data appendix for more information. US-domiciled mutual fund data is from the CRSP Survivor-Bias-Free US Mutual Fund Database, provided by the Center for Research in Security Prices,
University of Chicago.
3. Pick a past winner!
Many Wall Street experts proclaim that ten years is long enough to get rid of the lucky
managers and leave only those with great skill.We looked at the best equity funds over a three,
five and seven-year period and picked those that beat their benchmarks.Then we looked at how
those past winners did over the next three years.
Across the board, only a quarter
of the winning funds continued to
beat their benchmarks in the
subsequent three-year period
(2011–2013), regardless of how
many years they had won in the
past.That kind of drop would turn
the 17% number from the prior
slide to less than 7%.
So, in summary, the research
shows that most managers aren’t
any better than a simple index,
and you can’t find the 7% that will
end up doing better by looking at
past performance.
The sample includes funds at the beginning of the three-, five-, and seven-year periods, ending in December 2010. The graph shows the proportion of funds that outperformed and underperformed their respective benchmarks (i.e., winners and losers) during the
initial periods. Winning funds were re-evaluated in the subsequent period from 2011 to 2013, with the graph showing the proportion of outperformance and underperformance among past winners. (Fund counts and percentages may not correspond due to
rounding.) Past performance is no guarantee of future results. See Data appendix for more information. US-domiciled mutual fund data is from the CRSP Survivor-Bias-Free US Mutual Fund Database, provided by the Center for Research in Security
Prices, University of Chicago.
4. October 1987:
Stock Market
Crash
August
1989:
US Savings
and
Loan Crisis
September 1998:
Asian Contagion
Russian Crisis
March 2000:
Dot-Com Crash
September
2001:
Terrorist
Attack
September
2008:
Bankruptcy of
Lehman
Brothers
When things get bad, get out!
44%
84%
55%
51%52%
61%
9%
42%
-2%
25%
15%
37%
6%
-3%
3%
20%
-1%
21%
After 1 year After 3 years After 5 years
Balanced Strategy: 7.5% each S&P 500 Index, CRSP 6-10 Index, US Small Value Index, US Large Value Index; 15% each International Value Index, International Small Index; 40% BofA Merrill Lynch One-Year US Treasury Note
Index. The S&P data are provided by Standard & Poor’s Index Services Group. The Merrill Lynch Indices are used with permission; copyright 2014 Merrill Lynch, Pierce, Fenner & Smith Incorporated; all rights reserved. CRSP data
provided by the Center for Research in Security Prices, University of Chicago. US Small Value Index and US Large Value Index provided by Fama/French. International Value Index provided by Fama/French. International Small
Cap Index compiled by Dimensional from StyleResearch securities data; includes securities of MSCI EAFE countries in the bottom 10% of market capitalization, excluding the bottom 1%; market-cap weighted; each country capped
at 50%; rebalanced semiannually. Indexes are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. Past performance is not a guarantee of
future results. Not to be construed as investment advice. Returns of model portfolios are based on back-tested model allocation mixes designed with the benefit of hindsight and do not represent actual investment performance.
If we can’t find a good manager, at least we should be able to predict that when bad things
happen in the world, we should stay away from the markets. Or maybe we can’t. We looked at
six of the worst world events in the past 25 years to see what effect they had on the market.
We found short term drops with pretty amazing five year performance after the event.
Here’s the punchline: If your emotions tell you to run away from the market, ignore them.
Performance of a Normal Balanced Strategy: 60% Stocks, 40% Bonds - Cumulative Total Return
5. If we can’t trust past performance
or our emotions, how do we create
a portfolio?
We found Nobel Prize winning
research that identifies four factors
that affect the majority of stock
performance.
1. Relative price as measured by the price-to-book ratio; value stocks are those with lower price-to-book ratios.
Company Size
Small cap premium – small vs large companies
Market
Equity premium – stocks vs bonds
Relative Price1
Value premium – value vs growth companies
Expected Profitability
Profitability premium – high vs low profitability companies
Most of the investment management
industry exists to say,“hire us and we’ll pick stocks better than the other guy.”
The overwhelming evidence is that this activity is an economic waste of time because
any financial return from this activity pales in comparison to the effect of these four
factors.
Sometimes two of the factors above are described more colorfully as Small (company
size) andValue (relative price).
Structure Determines Performance
3.46%
1927-2014
8.40%
1927-2014
4.85%
1927-2014
4.09%
1964-2014
6. Structure Determines Performance
1. Beta: A quantitative measure of the co-movement of a given stock, mutual fund, or portfolio with the overall market.
2. Price-to-Book Ratio: A company's capitalization divided by its book value. It compares the market's valuation of a company to the value of that company as indicated on its financial statements.
3. Direct Profitability: A measure of a company’s current profits. We define this as operating income before depreciation and amortization minus interest expense, scaled by book equity.
By carefully structuring portfolios to take advantage of these dimensions, you
can tilt toward the Small, Value and Profitability dimensions that can increase
your expected returns.
8. World Stock Market Capitalization
As of December 31, 2014
Market cap data is free-float adjusted from Bloomberg securities data. Many nations not displayed. Total may not equal 100% due to rounding. For educational purposes; should not be used as investment advice.
China market capitalization excludes A-shares, which are generally only available to mainland China investors.
Abacus diversifies client assets across most of the world’s stock markets, often owning thousands of
stocks in a typical portfolio.We currently allocate 40% of total stocks to foreign companies.
9. Other
16%
Non Agency MBS
12%
Corporate
27%
Agency MBS
12%
US Govt
Direct
33%
Mortgage
28%
TIPS
20%
US Investment Grade
40%
International
12%
Bonds - The Ballast of your Portfolio
Allocation Credit Quality
Abacus aims to earn clients a healthy yield from bonds while not taking on excessive credit
risk from companies or governments with a poor future outlook, or excessive interest rate
risk by investing in long term bonds.
We diversify our bond allocation in an attempt to provide protection from inflation as well as
declines in individual sectors of the bond market.
10. DFA Global
Real Estate:
REITs around the
globe provide core
exposure to real estate.
We also offer private real estate
investments to accredited clients.
Oppenheimer SteelPath MLP: MLPs earn income by owning the means of
transportation for natural gas and oil (pipelines, shipping, trucking).
A Sample Portfolio
U.S. Stocks 30% International Stocks - 20%
Alternatives - 10% Bonds - 40%
DFA US Sustainability
Core I (DFSIX)
O'Shaughnessy All Cap
Core I (OFAIX)
DFA US Targeted Value
I (DFFVX)
DFA Global Real Estate
Securities I (DFGEX)
Oppenheimer SteelPath
MLP Select 40 Y(MLPTX)
DFA Intl Sustainability
Core 1 (DFSPX)
DFA International Small
Cap Value I (DISVX)
DFA Emerging Markets
Core Equity I (DFCEX)
DFA Investment Grade I
(DFAPX)
DFA Two-Year Global
Fixed-Income I (DFGFX)
PIMCO Income Instl
(PIMIX)
DoubleLine Total Return
Bond I (DBLTX)
DFA Short-Duration Real
Return Instl (DFAIX)
20%
5%
5%
7%
3%
10%
3%
7%
8%
8%
8%
8%
8%
40%
20%30%
10%
Abacus offers a variety of portfolios tailored to each client’s required rate of return, ability to accept risk, social values, and current income needs.
DFA US Sustainability: A broad
exposure to the US stock market
with innovative environmental
screening.
O'Shaughnessy All Cap:
A multi-factor value fund with a
unique approach to
capturing the
momentum factor.
DFA US Targeted Value: Owns many of the smallest
and lowest-priced (“value”) companies in the U.S.
This is how we capture the Small &Value premiums.
DFA Intl. Sustainability: A broad
exposure to the stock markets of
developed countries around the
world with the same
environmental screens as the U.S.
fund.
DFA Intl. Small Cap Value:
Captures the Small and
Value premiums in
developed countries.
DFA Emerging Markets Core: Exposure to stocks
in emerging economies around the world. These
investments have higher volatility but a significantly
higher expected return than US stocks.
DFA Investment
Grade, DFA Two-
Year Global & PIMCO
Income:
These three funds offer broad
exposure to the government and
corporate bond markets with a focus
on credit quality and low duration.
Doubleline Total Return: Exposure
to the vast real estate debt market,
with its different investment
characteristics than other bonds.
DFA Short Duration Real Return:
A short-term corporate bond fund that protects from rising inflation.
11. DISCLOSURES
The figures above reflect the hypothetical past performance of model portfolios. These model portfolios are similar to those used
currently by Abacus for its clients. However, these particular models have not always been used by Abacus. The models used may change without notice at
any time. The model portfolios were developed in part by examining past risk and return relationships, and may benefit from hindsight.
The figures shown do not represent past performance of any actual portfolios, including those of Abacus clients. Neither
Abacus nor its predecessor firms were in business for the full time period shown above. Abacus and its predecessors may have used different models with
clients during the time periods shown. Different clients may have followed different models. Clients following the same model may have had different actual
holdings and different performance. These model results do not reflect any impact that material economic or market factors might have had on the adviser’s
decision making if the adviser were actually managing clients’ money.
These performance figures are shown net of mutual fund expense ratios (where mutual funds were used), but include no
such costs where index returns were used. The figures are net of an assumed 1.2% per year reduction to cover trading costs, custodial costs, and
Abacus management fees. The effect of taxes is not reflected in these results, and inclusion of tax costs would reduce the illustrated returns.
The figures shown are not intended to represent potential future performance of actual or hypothetical clients, portfolios,
models, or asset classes. Future results may vary substantially from past results, due to a wide variety of uncontrollable and unpredictable factors.
These factors may include market changes, military or political events, economic or societal changes, and many others. The performance statistics assume
annual rebalancing at the end of each year, whereas actual client accounts may be rebalanced at irregular times based upon a number of factors. Actual client
portfolios may never exactly match these models nor any models used in the future to guide their construction.
The historical model performance illustrated derives from a number of assumptions. Asset classes were included in each model
according to the percentages shown above. Annual rebalancing is assumed, along with immediate reinvestment of all income and capital gains. Asset class
returns were measured using mutual fund returns where available (i.e. about 10-15 years for most stock funds), and index returns where mutual fund returns
were not available (i.e. earlier years). The performance results reflect the specific mutual funds and indices we selected. Other indices or funds may be
available to measure returns in one or more asset classes. Index returns do not include actual costs of investment.
Actual portfolios or models used by Abacus from time to time may have included more, fewer, or different asset classes or
funds. Each of the model portfolios includes an allocation to equity, real estate, and other securities purchased with an emphasis on capital appreciation
rather than primarily seeking income. The various underlying funds and asset classes may fluctuate dramatically, and this variation in individual asset class
returns is not visible in the aggregate results presented here. The model portfolios include allocations to small capitalization stocks,“value” stocks,
international stocks (including those issued in countries considered to be emerging markets), and other asset classes which may exhibit significant volatility in
returns when each is examined in isolation.
The performance for Abacus Model Portfolios is illustrated along with the performance of selected indices, for comparison
purposes. The composition, returns, and volatility of these indices vary widely from that of the model portfolios. The indices were chosen to illustrate
the performance of individual asset classes within the US securities markets, and because the Abacus Model Portfolios are comprised of multiple asset
classes, results are not directly comparable. Index returns do not include the actual costs of investment or taxes, and including these costs would reduce the
returns shown for the indices.