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Harry Markowitz - Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises
Harry Markowitz gives an IFA Exclusive Presentation on Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises. Markowitz explains the difference between Portfolio Theory and Financial Engineering. Markowitz also covers Black Monday (October 19, 1987), Long Term Capital Management, and Now. (47 Min.)
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Harry Markowitz gives an IFA Exclusive Presentation on Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises. Markowitz explains the difference between Portfolio Theory and Financial Engineering. Markowitz also covers Black Monday (October 19, 1987), Long Term Capital Management, and Now. (47 Min.)
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Step 1: Active Investors - Podcast Interview with Mark Hebner
The first step on the index funds journey is to recognize active investor behavior. If all investors were lined up in a row, could the active investors be identified? Active investors actively engage in stock picking, time picking (market timing), manager picking, and style picking.
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The first step on the index funds journey is to recognize active investor behavior. If all investors were lined up in a row, could the active investors be identified? Active investors actively engage in stock picking, time picking (market timing), manager picking, and style picking.
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Step 2: Nobel Laureates - Podcast Interview with Mark Hebner
Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.
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Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.
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Step 3: Stock - Podcast Interview with Mark Hebner
Mark Hebner explains the selection of stocks. Mark covers the Efficient Frontier by Harry Markowitz. Mark explains the correlation of risk and returns of indexes. Mark lists important performance evaluation errors of stock pickers.
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Mark Hebner explains the selection of stocks. Mark covers the Efficient Frontier by Harry Markowitz. Mark explains the correlation of risk and returns of indexes. Mark lists important performance evaluation errors of stock pickers.
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Step 4: Time Pickers - Podcast Interview with Mark Hebner
Mark Hebner explains Time Pickers (mostly newsletters that explain to investors when to be in or out of the market). Mark explains why investors do so poorly in this area and gives an example of a 1974 Gallup Poll where 51 percent of people's prediction was severely wrong.
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Mark Hebner explains Time Pickers (mostly newsletters that explain to investors when to be in or out of the market). Mark explains why investors do so poorly in this area and gives an example of a 1974 Gallup Poll where 51 percent of people's prediction was severely wrong.
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Step 5: Manager Pickers - Podcast Interview with Mark Hebner
Like stock and time picking, manager picking is a worthless endeavor; however, there are still investors out there who believe they can select an all-star manager or financial guru who can beat the odds. To be sure, there is no shortage of managers out there who are willing to try to beat the odds for their clients or mutual fund shareholders—for a hefty fee. Like all speculators, these managers do win occasionally, attracting lots of media attention and new clients. Truth be told, the majority of expenses and fees in the investment industry go toward money managers who gamble with other peoples money.
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Like stock and time picking, manager picking is a worthless endeavor; however, there are still investors out there who believe they can select an all-star manager or financial guru who can beat the odds. To be sure, there is no shortage of managers out there who are willing to try to beat the odds for their clients or mutual fund shareholders—for a hefty fee. Like all speculators, these managers do win occasionally, attracting lots of media attention and new clients. Truth be told, the majority of expenses and fees in the investment industry go toward money managers who gamble with other peoples money.
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Index Funds Advisors May 2008 Client Conference
(45 min) Mark Hebner explains the benefits of Index Funds Investing using his 12 Step Program from his book titled: Index Funds: The 12-Step Program for Active Investors
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(45 min) Mark Hebner explains the benefits of Index Funds Investing using his 12 Step Program from his book titled: Index Funds: The 12-Step Program for Active Investors
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Quote of the Week - Issue 46 (John C. Bogle)
"We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients."
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"We need a mutual fund industry with both vision and values; a vision of fiduciary duty and shareholder service, and values rooted in the proven principles of long-term investing and of trusteeship that demands integrity in serving our clients."
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Index Funds Advisors Exclusive: Interview with Harry Markowitz
Mark Hebner interviews Harry M. Markowitz (1990 Nobel Prize Winner, Economics). They discuss the 2008 year, diversification, Modern Portfolio Theory, and the Efficient Market Theory.
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Mark Hebner interviews Harry M. Markowitz (1990 Nobel Prize Winner, Economics). They discuss the 2008 year, diversification, Modern Portfolio Theory, and the Efficient Market Theory.
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Index Funds: The 12-Step Program for Active Investors - Introduction
Mark Hebner explains the benefits of Index Funds Investing using his 12 Step Program from his book titled: Index Funds: The 12-Step Program for Active Investors
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Mark Hebner explains the benefits of Index Funds Investing using his 12 Step Program from his book titled: Index Funds: The 12-Step Program for Active Investors
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Index Funds: The 12-Step Program for Active Investors -
Step 1: Active Investors
Mark Hebner explains how to identify an Active Investor. Mark covers characteristics of Active Investors including their addictive behavior and emotions. Mark identifies the four main strategies of Active Investors: Stock Pickers, Time Pickers, Manager Pickers, and Style Drifters.
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Mark Hebner explains how to identify an Active Investor. Mark covers characteristics of Active Investors including their addictive behavior and emotions. Mark identifies the four main strategies of Active Investors: Stock Pickers, Time Pickers, Manager Pickers, and Style Drifters.
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Index Funds: The 12-Step Program for Active Investors - Step 2: Nobel Laureates
Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.
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Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.
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Index Funds: The 12-Step Program for Active Investors - Step 3: Stock Pickers
Mark Hebner explains the selection of stocks. Mark covers the Efficient Frontier by Harry Markowitz. Mark explains the correlation of risk and returns of indexes. Mark lists important performance evaluation errors of stock pickers.
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Mark Hebner explains the selection of stocks. Mark covers the Efficient Frontier by Harry Markowitz. Mark explains the correlation of risk and returns of indexes. Mark lists important performance evaluation errors of stock pickers.
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Index Funds: The 12-Step Program for Active Investors - Step 4: Time Pickers
Mark Hebner explains Time Pickers (mostly newsletters that explain to investors when to be in or out of the market). Mark explains why investors do so poorly in this area and gives an example of a 1974 Gallup Poll where 51 percent of people's prediction was severely wrong.
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Mark Hebner explains Time Pickers (mostly newsletters that explain to investors when to be in or out of the market). Mark explains why investors do so poorly in this area and gives an example of a 1974 Gallup Poll where 51 percent of people's prediction was severely wrong.
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Index Funds: The 12-Step Program for Active Investors - Step 5: Manager Pickers
Mark Hebner explains Manager Pickers. Mark explains how difficult it is for managers to repeat their performance. Mark also looks at a manager picking study that tracked the performance of managers before they were hired and subsequent years. The results are quite sobering.
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Mark Hebner explains Manager Pickers. Mark explains how difficult it is for managers to repeat their performance. Mark also looks at a manager picking study that tracked the performance of managers before they were hired and subsequent years. The results are quite sobering.
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Index Funds: The 12-Step Program for Active Investors - Step 6: Style Drifters
Mark Hebner explains Style Drifters (investment managers who waiver on what style will be the next winner in the near future). Mark charts the top asset classes over a period of time to prove the inconsistency of any given style.
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Mark Hebner explains Style Drifters (investment managers who waiver on what style will be the next winner in the near future). Mark charts the top asset classes over a period of time to prove the inconsistency of any given style.
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Index Funds: The 12-Step Program for Active Investors - Step 7: Silent Partners
Mark Hebner Explains Silent Partners. Silent Partners can be: Sales agents or stock brokers, fund managers, accountants, investment advisory fees, market makers, transfer agents, mutual fund distributors, brokerage firms and Uncle Sam.
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Mark Hebner Explains Silent Partners. Silent Partners can be: Sales agents or stock brokers, fund managers, accountants, investment advisory fees, market makers, transfer agents, mutual fund distributors, brokerage firms and Uncle Sam.
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Index Funds: The 12-Step Program for Active Investors - Step 8: Riskese
Mark Hebner explains Riskese. Mark covers the correlation of risk and time, standard deviation over time and risk and return.
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Mark Hebner explains Riskese. Mark covers the correlation of risk and time, standard deviation over time and risk and return.
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Index Funds: The 12-Step Program for Active Investors - Step 9: History
Mark explains why investors need to take their time to analyze the long term historic risk and return of various indexes before they can intelligently design a globally diversified portfolio of indexes that will maximize their return at each level of risk.
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Mark explains why investors need to take their time to analyze the long term historic risk and return of various indexes before they can intelligently design a globally diversified portfolio of indexes that will maximize their return at each level of risk.
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Index Funds: The 12-Step Program for Active Investors - Step 10: Risk Capacity
Mark Hebner explains how the Risk Capacity Survey can help determine how much risk is right for an investor. Mark covers the 5 dimensions of risk: Time, Knowledge, Attitude, Income, and Worth.
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Mark Hebner explains how the Risk Capacity Survey can help determine how much risk is right for an investor. Mark covers the 5 dimensions of risk: Time, Knowledge, Attitude, Income, and Worth.
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Index Funds: The 12-Step Program for Active Investors - Step 11: Risk Exposure
Mark Hebner explains Risk Exposure and their 5 dimensions: General Market Risk, a Small Cap Exposure, a Value Exposure, and for Fixed Income the Term and Default Risk. Mark covers the three basic asset classes in the 20 IFA Portfolios. Mark also covers the "Big Table".
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Mark Hebner explains Risk Exposure and their 5 dimensions: General Market Risk, a Small Cap Exposure, a Value Exposure, and for Fixed Income the Term and Default Risk. Mark covers the three basic asset classes in the 20 IFA Portfolios. Mark also covers the "Big Table".
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Index Funds: The 12-Step Program for Active Investors - Step 12: Invest and Relax
Mark Hebner explains why you should Invest and Relax. Mark covers how rebalancing maintains your appropriate level of risk.
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Mark Hebner explains why you should Invest and Relax. Mark covers how rebalancing maintains your appropriate level of risk.
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Exclusive IFA Interview with Financial Expert Eugene Fama, Jr.
Index Funds Advisors is proud to bring you an exclusive video of Mark Hebner interviewing Eugene Fama, Jr., Vice President of Dimensional Fund Advisors. Gene explains The Efficient Market Hypothesis, multifactor investing, DFA's unique trading strategies, and DFA's block trading strategy. Gene also explains how stocks are fairly priced, uncompensated vs. compensated risk, the difference between an investor and speculator, and the role of the passive investment advisor. Behind Mark and Gene is the latest IFA oil painting depicting the difficult journey up the 12 Steps to tradeless nirvana.
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Index Funds Advisors is proud to bring you an exclusive video of Mark Hebner interviewing Eugene Fama, Jr., Vice President of Dimensional Fund Advisors. Gene explains The Efficient Market Hypothesis, multifactor investing, DFA's unique trading strategies, and DFA's block trading strategy. Gene also explains how stocks are fairly priced, uncompensated vs. compensated risk, the difference between an investor and speculator, and the role of the passive investment advisor. Behind Mark and Gene is the latest IFA oil painting depicting the difficult journey up the 12 Steps to tradeless nirvana.
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Mark Hebner Addresses the Madoff Mayhem
Who Can You Trust? Mark Hebner Addresses Madoff Mayhem - IFA President and Founder Mark Hebner addresses the Bernie Madoff scandal as he asks and answers the most important questions that investors should be asking their advisors right now.
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Who Can You Trust? Mark Hebner Addresses Madoff Mayhem - IFA President and Founder Mark Hebner addresses the Bernie Madoff scandal as he asks and answers the most important questions that investors should be asking their advisors right now.
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The Speculation Blues
The Speculation Blues was written by Mark T. Hebner and the original paintings featured in this video depict the 12 Step Program for Active Investors to overcome their addiction to trading.
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The Speculation Blues was written by Mark T. Hebner and the original paintings featured in this video depict the 12 Step Program for Active Investors to overcome their addiction to trading.
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Quote of the Week - Issue 40 (William Bernstein)
"No one in his right mind would walk into the cockpit of an airplane and try to fly it, or into an operating theater and open a belly. And yet they think nothing of managing their retirement assets. I’ve done all three, and I’m here to tell you that managing money is, in its most critical elements (the quota of emotional discipline and quantitative ability required) even more demanding than the first two."
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"No one in his right mind would walk into the cockpit of an airplane and try to fly it, or into an operating theater and open a belly. And yet they think nothing of managing their retirement assets. I’ve done all three, and I’m here to tell you that managing money is, in its most critical elements (the quota of emotional discipline and quantitative ability required) even more demanding than the first two."
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Mark Hebner offers a much-needed perspective
Mark Hebner explains why all the hype in the market is nothing new. He addresses investor concerns and encourges weary investors to take the Risk Capacity Survey to re-evaluate their risk. Mark Hebner urges you to watch Weston Wellington's "Is it different this time?" presentation. Mark also announces 1990 Nobel Prize Winner Harry Markowitz joining the ifa team!
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Mark Hebner explains why all the hype in the market is nothing new. He addresses investor concerns and encourges weary investors to take the Risk Capacity Survey to re-evaluate their risk. Mark Hebner urges you to watch Weston Wellington's "Is it different this time?" presentation. Mark also announces 1990 Nobel Prize Winner Harry Markowitz joining the ifa team!
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Mark Hebner addresses the turmoil in the market
Mark Hebner explains who should be worried about their investments and who should not be. Mark wants you to capitalize on the current market conditions and to get invested properly into an index fund. Please take the Risk Capacity Survey to get started.
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Mark Hebner explains who should be worried about their investments and who should not be. Mark wants you to capitalize on the current market conditions and to get invested properly into an index fund. Please take the Risk Capacity Survey to get started.
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Mark Hebner Explains Recessions & Market Recovery
Mark Hebner explains how long it took the market to recover from an October 1987 508.32 point drop in the Dow Jones Industrial using the IFA Risk Return Calculator.
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Mark Hebner explains how long it took the market to recover from an October 1987 508.32 point drop in the Dow Jones Industrial using the IFA Risk Return Calculator.
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Mark Hebner Explains Recessions & Stock Markets
Mark Hebner explains a 1974 New York Times article which a Gallup Poll revealed that 51% of people thought America was headed toward a 1930-style depression. Mark explains just how resilient capitalism can be.
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Mark Hebner explains a 1974 New York Times article which a Gallup Poll revealed that 51% of people thought America was headed toward a 1930-style depression. Mark explains just how resilient capitalism can be.
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Mark Hebner Explains Market Volatility
Mark Hebner explains market volatility and the best direction to take during these times. Mark describes that buying and holding for longer periods of time reduces the chance of loss.
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Mark Hebner explains market volatility and the best direction to take during these times. Mark describes that buying and holding for longer periods of time reduces the chance of loss.
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Mark Hebner explains the 12-Steps 1
Part 1 - Mark Hebner is the President of Index Funds Advisors, Inc., author of the www.ifa.com web site, editor and owner of www.indexfunds.com, and author of the book, Index Funds: The 12-Step Program for Active Investors. He has attended about thirty conferences on index funds investing and is considered the leading internet provider of information on index funds. He is an Investment Advisor Representative and has a Masters in Business Administration from the University of California at Irvine.
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Part 1 - Mark Hebner is the President of Index Funds Advisors, Inc., author of the www.ifa.com web site, editor and owner of www.indexfunds.com, and author of the book, Index Funds: The 12-Step Program for Active Investors. He has attended about thirty conferences on index funds investing and is considered the leading internet provider of information on index funds. He is an Investment Advisor Representative and has a Masters in Business Administration from the University of California at Irvine.
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Mark Hebner explains the 12-Steps 2
Part 2 - Mark Hebner explains Steps 2 through 6: Step 2 - Nobel Laureates - and their great work and research about stock market. Step 3 - Stock Pickers - Avoid their speculation pickers. Step 4 - Market Timers - Nobody has a crystal ball that can see the future. Step 5 - Manager Pickers - Don't be fooled, their great returns are pure luck. Step 6 - Style Drifters - Protect yourself, don't invest in active management.
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Part 2 - Mark Hebner explains Steps 2 through 6: Step 2 - Nobel Laureates - and their great work and research about stock market. Step 3 - Stock Pickers - Avoid their speculation pickers. Step 4 - Market Timers - Nobody has a crystal ball that can see the future. Step 5 - Manager Pickers - Don't be fooled, their great returns are pure luck. Step 6 - Style Drifters - Protect yourself, don't invest in active management.
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Interview with Eugene Fama
Professor Fama is arguably the best-known financial economist in the world. He coined the phrase 'The Efficient Market Theory.' This interview is approximately 15 minutes long and includes 17 questions that Professor Fama provides his esteemed point of view. You will find him both engaging and humorous. You will hear what few people have heard from one of the world`s most informed professors of economics. See more of Eugene Fama's research from the Social Science Reseach Network. There has been about 10 million article downloads and Fama's research makes up #1 downloaded paper and three of the Top Ten. Fama appears to be in line for a future Nobel Prize.
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Professor Fama is arguably the best-known financial economist in the world. He coined the phrase 'The Efficient Market Theory.' This interview is approximately 15 minutes long and includes 17 questions that Professor Fama provides his esteemed point of view. You will find him both engaging and humorous. You will hear what few people have heard from one of the world`s most informed professors of economics. See more of Eugene Fama's research from the Social Science Reseach Network. There has been about 10 million article downloads and Fama's research makes up #1 downloaded paper and three of the Top Ten. Fama appears to be in line for a future Nobel Prize.
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Interview with Eugene Fama
Professor Fama is among the most prolific and cited thinkers in finance today. In this interview, he discusses the origins of his interest in economics, the origins of Dimensional, his thirty year career at The University of Chicago, and what has changed (and remained the same) in the economic world during that time.
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Professor Fama is among the most prolific and cited thinkers in finance today. In this interview, he discusses the origins of his interest in economics, the origins of Dimensional, his thirty year career at The University of Chicago, and what has changed (and remained the same) in the economic world during that time.
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Interview with Kenneth French
Professor French is the co-author of the landmark paper in the June 1992 issue of the Journal of Finance, titled The Cross-Section of Expected Stock Returns . His research, along with Eugene Fama, is the cornerstone of many of the DFA Index Funds. Their research lead to the three-factor model to measure different types of risks and expected returns. This model changed the world of finance. See more of Kenneth French's research from the Social Science Research Network.
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Professor French is the co-author of the landmark paper in the June 1992 issue of the Journal of Finance, titled The Cross-Section of Expected Stock Returns . His research, along with Eugene Fama, is the cornerstone of many of the DFA Index Funds. Their research lead to the three-factor model to measure different types of risks and expected returns. This model changed the world of finance. See more of Kenneth French's research from the Social Science Research Network.
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Interview with Kenneth French
As the Director of Investment Strategy, Professor French splits his time between the trading floors of Dimensional and the lecture halls of Dartmouth. In this interview, he discusses the evolution of Dimensional's trading system and the role of tax management, patient trading, momentum and the ideas of behavioral finance.
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As the Director of Investment Strategy, Professor French splits his time between the trading floors of Dimensional and the lecture halls of Dartmouth. In this interview, he discusses the evolution of Dimensional's trading system and the role of tax management, patient trading, momentum and the ideas of behavioral finance.
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Interview with Rex Sinquefield
Rex Sinquefield has contributed many articles for books, academics and professional journals. Best known among these is the book Stocks, Bonds, Bills and Inflation , which he co-authored with Roger Ibbotson. He has also lectured on Private Equity, VCs, and Alternative Investments. He retired from Dimensional Fund Advisors, after serving a key role in building the firm.
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Rex Sinquefield has contributed many articles for books, academics and professional journals. Best known among these is the book Stocks, Bonds, Bills and Inflation , which he co-authored with Roger Ibbotson. He has also lectured on Private Equity, VCs, and Alternative Investments. He retired from Dimensional Fund Advisors, after serving a key role in building the firm.
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Interview with David Booth
David Booth is Chairman and CEO of Dimensional Fund Advisors.Mr. Booth has written numerous articles, best known among those is the article, 'Diversification Returns and Asset Contributions,' which he co-authored with Prof. Eugene Fama. This paper earned the authors the Graham and Dodd Award for best article in the Financial Analysts Journal in 1992.
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David Booth is Chairman and CEO of Dimensional Fund Advisors.Mr. Booth has written numerous articles, best known among those is the article, 'Diversification Returns and Asset Contributions,' which he co-authored with Prof. Eugene Fama. This paper earned the authors the Graham and Dodd Award for best article in the Financial Analysts Journal in 1992.
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IFA
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