Congratulations to one of our advisers Professor Samuel Hartzmark from the University of Chicago Booth School of Business for winning the 2019 Exeter Prize for the best paper published in the previous calendar year in a peer-reviewed journal in the fields of Experimental Economics, Behavioural Economics and Decision Theory.
Why does value investing work? Why do other factor strategies work? For that matter, why does any active strategy — meaning, any strategy other than cap-weighted indexing — “work” in the sense of having a reasonable chance of beating the cap-weighted index other than by random variation?
As life expectancy increases around the world, investors may soon realize that with longer life also comes a longer liability. Retirement occurs well beyond the "age of 65" as countries around the world increase the retirement ages and eligibility for governmental retirement assistance programs. 2017 Nobel Prizer winner and University of Chicago Booth School of Business Professor Richard Thaler puts it succinctly, "You have to worry about getting unlucky and living to 100."
P. Brett Hammond, Jr.Martin L. Leibowitz, Laurence B. Siegel Source: The CFA Institute Research Foundation Publications Link to Full Paper. In 2001, a small group of academics and practitioners met to discuss the equity risk premium (ERP). Ten years later, in 2011, a similar discussion took place, with participants writing up their thoughts for this volume. The result is a … Continue reading Rethinking the Equity Risk Premium
Building on the themes from the 2006 conference, this proceedings of the 2008 conference explores what the modern science of life-cycle finance implies for households, businesses, and government with a focus on the retirement phase. Source: The CFA Research Institute.