Articles (105)

807,591 views
Article Library

  • The Small-Cap "Alpha" Myth: An Update!

    6,851
    by Tom Allen and Mark Hebner — Wednesday, April 27, 2016

    There is a common misconception about “alpha” in the small-cap market within the United States. Many professionals believe that once we step out of ...Read More

  • The Short End of a Corrupt Giant

    3,928
    by Tom Allen and Mark Hebner — Monday, December 28, 2015

    Most of us are aware of the story of David and Goliath from the Holy Bible. According to the Books of Samuel, Goliath was a Philistine warrior of ...Read More

  • Tom Allen and Mark Hebner

    The MFS "Active Advantage"... Really?

    8,520
    by Tom Allen and Mark Hebner — Wednesday, November 11, 2015

    MFS Investment Management made very well scripted and produced commercials highlighting some of the typical selling points active managers like to make when ...Read More

  • Maryland - Ready For an Investment Change

    6,032
    by Tom Allen and Mark Hebner — Wednesday, July 15, 2015

    No this is not a political campaign slogan, but more of a realization. The Baltimore Sun recently published an article highlighting the recent popularity of ...Read More

  • Did Bloomberg Find Another Bill Miller?

    7,283
    by Mark Hebner and IFA Contributors — Tuesday, March 24, 2015

    You may recall that Bill Miller was the fund manager who enjoyed the unparalleled winning streak of beating the S&P 500 Index for fifteen consecutive years ...Read More

  • Pimco Continues to Bleed Cash

    8,257
    by Mark Hebner and IFA Contributors — Monday, November 10, 2014

    Since the departure of Bill Gross from Pimco on September 26th, its flagship Total Return fund has suffered investor withdrawals of $51 billion, according to ...Read More

  • Can Managers Pick Managers?

    8,983
    by Mark Hebner and IFA Contributors — Tuesday, October 28, 2014

    Your mother may have taught you that cheaters never prosper, but what about copycats? When it comes to mutual fund managers, the answer is sometimes, but not ...Read More

  • Memo to Pimco: Don't Mess with St. Jack!

    5,453
    by Mark Hebner and IFA Contributors — Friday, October 24, 2014

    Those of us who follow the financial media have been treated to a verbal slugfest featuring the Father of Retail Index Funds, Jack Bogle, going against Pimco ...Read More

  • The Google Effect?

    7,911
    by Jim Parker — Monday, October 20, 2014

    What can’t Google do? Free email, customized searches, maps, apps, browsers, video—the list goes on. Now researchers claim to have found a link ...Read More

  • The Bond King Leaves PIMCO for Janus Capital

    5,226
    by Mark Hebner and IFA Contributors — Monday, September 29, 2014

    We were as shocked as everyone else when we learned that Bill Gross had resigned from PIMCO, and we were doubly shocked to learn that he was going to Janus ...Read More

  • Pension-Gate: Some Good News from CalPERS

    5,759
    by Mark Hebner and IFA Contributors — Thursday, September 18, 2014

    According to this press release, the $300 billion California Public Employees’ Retirement System (CalPERS) will eliminate its hedge fund program which ...Read More

  • A Textbook Case of Insider Trading

    6,182
    by Mark Hebner and IFA Contributors — Thursday, September 4, 2014

    When we hear about someone being charged with insider trading, the first thought that usually comes to mind is that of company executives or hedge fund ...Read More

  • Pension-Gate: Some Good News and Bad News

    6,140
    by Mark Hebner and IFA Contributors — Thursday, August 14, 2014

    The recent good news from the Wall Street Journal (summarized here) is that the California Public Employees’ Retirement System (CALPERS) is planning to ...Read More

  • The NACUBO Study

    10,101
    by Mark Hebner — Thursday, June 12, 2014

    You may think that college endowments, with all their access to academic knowledge and brainpower, would regularly hit home runs. You would be ...Read More

  • Manager Picking is a Mug's Game

    9,258
    by Mark Hebner and IFA Contributors — Friday, May 2, 2014

    The search for investment managers who will deliver alpha is an activity that accounts for billions of dollars that is spent by foundations, endowments, ...Read More

  • When Mythology Is Confused with Reality

    7,544
    by Mark Hebner and IFA Contributors — Friday, April 11, 2014

    In the investment industry, the term “white paper” carries a lot of currency. As for what distinguishes an ordinary article from a full-fledged ...Read More

  • Morningstar's Fund Managers of the Year

    6,516
    by Mark Hebner and IFA Contributors — Wednesday, January 22, 2014

    Can you hear it? That is the sound of millions of index fund investors yawning in response to Morningstar’s announcement of its Fund Managers of the Year ...Read More

  • 2013: Another Dismal Year for Hedge Funds

    6,396
    by Mark Hebner and IFA Contributors — Saturday, January 11, 2014

    “We active folks have done a horrible job of beating the benchmarks.” So says Bob Doll of Nuveen Investments who was recently interviewed by Jeff ...Read More

  • The Myth of Fund Ratings

    7,757
    by Anonymous — Monday, December 23, 2013

    At least 80% of actively managed funds underperform the S&P 500 in any 10 year period—and there are indexes that perform better than the S&P 500. If ...Read More

  • PIMCO: Just How Consistent is Consistent?

    7,672
    by Mark Hebner and IFA Contributors — Wednesday, December 18, 2013

    In Bill Gross’s December 2013 Investment Outlook letter, he joined the ranks of Warren Buffett and Peter Lynch in giving a solid endorsement to indexing ...Read More

  • The Failure of Manager Pickers

    4,541
    by Mark Hebner — Wednesday, August 7, 2013

    Like stock and time picking, manager picking is usually a worthless endeavor; however, there are still investors out there who believe they can select an ...Read More