Mullaney Keating & Wright

Independent Investment Professionals

  • TRADE DEFICITS MISLEAD - The Trump Administration appears to be reversing the United States post World War II policy of seeking greater trade reciprocity. Robert Lawrence of the Harvard University Kennedy School analyzes why such a policy is misguided in Five Reasons Why the Focus … Continue reading
  • PRICE DISCOVERY - Brad Steiman of Dimensional Fund Advisors debunks the meme that greater passive investing reduces price discovery in equity markets in his Relying On Market Prices. TFM
  • PENSEES - For the 23rd year the former supply officer on my ship has published his Positive Outlook Calendar for those who contributed to The Leukemia & Lymphoma Society. The calendar is a compilation of sayings for every day of the year.  … Continue reading
  • INEQUALITY - Thomas Piketty of Capital in the Twenty-first Century fame and his fellow researchers have just published the World Inequality Report. I believe that it is the first a many to follow annually.  Both the New York Times and The Hartford Courant … Continue reading
  • SPIVA at 15 - The S&P Dow Jones Indices group began publishing the S&P Indices Versus Active (SPIVA) scorecard 15 years ago.  The managing director of the project reflects on  15 Years of SPIVA in a question and answer format. TFM
  • DE-FAANG THE FAD - Jim Parker of DFA Australia has published an interesting piece, Catchphrase Investing, on the latest Wall Street fad.  See for yourself. TFM
  • TAME THE MARKET - Dimensional Fund Advisors has published Key Questions for the Long-Term Investor a useful guide how to tame what cannot be easily beat. TFM    
  • MUTUAL FUNDS — Size, Scope, Performance - Dimensional Fund Advisors has just released its latest report on the mutual fund industry in the attached Mutual Fund Landscape 2017 Report. TFM
  • PASSIVE IS MASSIVE — STILL - Burton Malkiel, whose Random Walk Down Wall Street is in its 11th edition, had a nice summary in Index Funds Still Beat ‘Active’ Portfolio Management – WSJ of the continuing Standard & Poor’s research on the “the dismal record of ‘active’ portfolio managers.” … Continue reading
  • BUFFET ON HEDGE FUNDS - In this year’s Berkshire Hathaway annual report, a/k/a Warren Buffet’s annual letter to shareholders, the Oracle of Omaha reports on the results of his bet about the underperformance of hedge funds. After you read WarrenBuffetOnHedgeFunds you should agree that hedge fund … Continue reading