The philosopher's stone?

Article Abstract:

New-style active fund management involves using quantitative techniques to seek to outperform an index through many small bets, and this may involve holding thousands of positions. Traditional fund managers have tended to underperform in the bull market, especially value fund managers, who favor smaller companies. Investors have turned to index funds, and new-style active managers offer an additional layer to boost performance. Mainstream investors are starting to accept quantitative techniques, though critics argue that they only work for short periods.

Investment Offices, Investment Companies, Open-End Investment Funds, Economic aspects, Index funds

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The foresight saga

Article Abstract:

Investors with perfect foresight could become richer than Bill Gates, by choosing the best investment each year, not diversifying, and reinvesting returns. Taxes and dealing costs would erode returns, and wealth on a large scale cannot easily be absorbed by markets. There are some lessons for investors from the example of someone with perfect foresight. Stocks have tended to perform better than real estate, bonds and precious metals during the 20th century. Timing is also important, since gains can disappear rapidly in some markets.

Financial markets, 20th century AD

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Contrary-wise

Article Abstract:

Yale University's endowment fund has performed well, despite not following common trends which have tended to emphasize US stocks.

Management, Finance, Universities and colleges, Yale University, Endowments

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