A Simple Theory of the Financial Crisis; or, Why Fischer Black Still Matters

Tyler CowenIn this month’s Financial Analysts Journal, Tyler Cowen professor of economics at George Mason University, Virginia makes sense of the current financial crisis by drawing on some of Fischer Black’s ideas.

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Long-horizon premium: up to 1.5%

A study from the Thinking Ahead Institute finds the premium for long-horizon investing is up to 1.5 per cent a year and identifies eight strategies for reaching that target.

Bloomberg embraces diversity

Head of diversity and inclusion at Bloomberg stresses the benefits of a diverse workforce and says asset owners can highlight areas for improvement in this regard.

Real factors, and how to use them

Factor investing has become a topic du jour, but according to four experts, there are only a handful of factors that are persistent and robust. If used strategically, these can be useful.

No sustainable growth from Trump tweets

US President Trump’s Twitter outbursts can have a big temporary impact on markets, but longer-term results are driven by economic fundamentals, State Street Global Advisors’ Dan Farley says.

UK watchdog set to back pension mergers

The UK Financial Conduct Authority’s upcoming report is expected to call for consolidation in pension funds, tighter controls on active management fees and greater transparency.

Fed official: end reinvestment

The US Federal Reserve’s James Bullard is inclined to let bond buying run off in 2017. He also says higher interest rates are unlikely worldwide and calls the US a relatively closed market.

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