Articles (202)

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  • Mark Hebner

    Calculations for T-Statistics

    86,040
    by Mark Hebner — Updated: Monday, June 28, 2021

    In calculating the t-stat, the first step is to determine the excess returns a manager earned above an appropriate ...Read More

  • Mark Hebner and Murray Coleman

    Selecting Investments

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    by Murray Coleman — Updated: Monday, July 12, 2021

    The science behind how we separate the wheat from the chaff, so to speak, in making our fund recommendations to ...Read More

  • IFA Contributors

    Where are the Customers' Yachts? A Good Hard Look at Wall Street

    56,348
    by Mark Hebner — Updated: Monday, June 27, 2022

    Once in the dear dead days beyond recall, an out-of-town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery, one of his guides indicated some handsome ships riding at anchor. He said, “Look, those are the ...Read More

  • Mark Hebner

    Standard Deviation

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    by Mark Hebner and Murray Coleman — Updated: Monday, January 13, 2020

    In the field of finance, standard deviation represents the risk associated with a security or the risk of a portfolio of ...Read More

  • Mark Hebner and IFA Contributors

    The Hunt for Profitability

    33,411
    by Murray Coleman — Updated: Tuesday, August 10, 2021

    Here's a look at the development of the profitability factor as a research tool in determining expected ...Read More

  • Mark Hebner and Murray Coleman

    Eugene Fama: One of A Kind

    32,027
    by Murray Coleman — Updated: Wednesday, January 19, 2022

    Here is a comprehensive listing of research done by one of the prominent academics in the field of financial ...Read More

  • Mark Hebner and IFA Contributors

    Misuse of the Law of Large Numbers: The Gambler's Fallacy

    31,966
    by Mark Hebner and Murray Coleman — Updated: Tuesday, September 15, 2020

    If you have ever spent any time in a casino, it is likely that you have seen supposedly random events that appeared to be non-random. Perhaps the roulette wheel came up red seven times in a row, for example. If your reaction was to place a large bet on ...Read More

  • Mark Hebner and IFA Contributors

    The Funded Ratio: An Actuarial Approach to Retirement Spending

    25,915
    by Mark Hebner and IFA Contributors — Updated: Wednesday, June 26, 2019

    In a recent Financial Professional Outlook, Russell Investments surveyed 234 financial advisors across 145 investment firms nationwide. According to their results, 60% of advisors said that more than half of their clients are near or in ...Read More

  • Brad Steiman

    Paradox of Skill

    25,311
    by Brad Steiman — Updated: Monday, April 25, 2022

    Manager selection is a process that requires analyzing noisy performance data, so it should lean heavily on the notion of statistical ...Read More

  • Ian Liew

    SBBI: The Almanac of Returns Data

    23,798
    by Ian Liew and IFA Contributors — Updated: Friday, July 19, 2019

    Stocks, Bonds, Bills, and Inflation (SBBI) is often characterized as the Almanac of returns data. This magisterial work originally produced by Roger Ibbotson and Rex Sinquefield is considered the go to place when information is needed on the expected returns and risks of a ...Read More

  • Mark Hebner

    Rebalancing Portfolios [VIDEO]

    22,199
    by Mark Hebner and Murray Coleman — Updated: Tuesday, August 20, 2019

    It is important for investors to rebalance their portfolio to achieve risk control and maintain long-term investing ...Read More

  • Mark Hebner

    Advisor Risk - How Would You Rate Your Advisor's Risk?

    22,190
    by Mark Hebner — Updated: Friday, November 1, 2019

    When it comes to investing, we can identify many risks investors assume, either knowingly or not. At Index Fund Advisors, we see it as our core mission to get investors to take the risks that are worth taking (e.g. market, size, value, term and default) and avoid the ones that ...Read More

  • Mark Hebner

    Cash Withdrawal Considerations

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    by Murray Coleman — Updated: Wednesday, August 24, 2022

    IFA is often in the position of accommodating regular cash withdrawal by its clients. The question is how to best generate cash for ...Read More