Mullaney Keating & Wright

Independent Investment Professionals

  • INFLATION - Andrew Karolyi of the Cornell Business School and a consultant to Avantis Investors has published an interesting review of inflation history and the measurement of inflation expectations in Managing (Great) Inflationary Expectations. TFM    
  • BEWARE MARKET GURUS - Larry Swedroe published an interesting piece on the (un)reliability of market pundits in INCOMPETANCE. TFM      
  • A NEW LAW OF INVESTMENTS - Larry Swedroe of The BAM Alliance reviews the latest SPIVA report in Surprising SPIVA RESULTS and describes Dunn’s Law.  I had never heard of this “law” before but it makes a lot of sense. TFM    
  • WHY DIVERSIFY ? - Dimensional Fund Advisors has provided the best reason for diversification in How Markets Work and the FAANG Mentality without really saying so.   tom
  • PRODUCTIVITY UPDATE - Northern Trust economists dig into productivity metrics in A Deep Dive Into Productivity. TFM
  • MUTUAL FUND PERFORMANCE PERSISTENCE - S&P Dow Jones Indices has published The Persistence Scorecard – Sept 2019 covering periods ending in 2018.  It can be summarized with one quote “It is worth noting that only 0.91% of large cap and no mid-cap or small-cap funds managed … Continue reading
  • PERFORMANCE of MUTUAL FUNDS - Dimensional Fund Advisors has just published their 2019 Mutual Fund Landscape_ Report.  It details how few funds manage to beat their benchmarks over various investment horizons.  The report is not as thorough and detailed as the Standard & Poors  SPIVA  … Continue reading
  • PRICE DISCOVERY and ITS DISCONTENTS - Dimensional Fund Advisors has released The Index Bogeyman which puts to rest the critique that index funds distort the price discovery process. TFM
  • PREMIUMS ANALYSIS - Dimensional Fund Advisors has just published Perspective on Premiums in which they analyze the history of premium under and over performance.  A little wonkish but worthy of study. TFM
  • RECESSION WATCH - In the attached When will the longest expansion end Bob Gordon of The Rise and Fall of American Growth fame concludes that all is well until 2021.  In addition to being a economics professor at Northwestern he is a long time … Continue reading