New Moneyterms site
I have moved Moneyterms to new hosting and to the wonderful Modx platform. The time spent developing the new site was minimal, but I also replaced all the automatically generated “related page” links with manually chosen lists, which was a lot of very tedious work. It should improve site navigation.
I also removed the “Guides” section, as it was simply not good enough. It will reappear with rewritten material.
Now that is behind me I have started adding new entries again, starting with style index, discount rate, long term PE, market neutral and synthetic security.
Actively manage your pension
at 7:47 am on Thursday, 13 September 2007
Most people are quite happy to allow a fund manager to look after their pension, even those who actively manage other investments. I suggest the opposite. There are very good reasons for concentrating on your pension. (more…)
More bull market?
at 8:48 am on Friday, 7 September 2007
FT Alphaville is skeptical of Morgan Stanley strategist Teun Draaisma’s bullish outlook. Looking at the arguments he makes in detail, I think he has a point, although I would be more worried about the downside. (more…)
Wogen not irrationally priced
at 12:56 pm on Friday, 10 August 2007
Richard Beddard appears to be willing to agree with me that most active investors will under-perform. We still disagree about how investors’ chances of out-performing are. Richard has focused on a particular company , Wogen, as an example of irrational underpricing. Naturally, it is now essential that I poke a few holes in his bullish analysis. (more…)
Lifecycle investing: when to switch?
at 2:35 pm on Wednesday, 8 August 2007
The comments on a recent post questioned whether life cycle investing is a good idea. I think the idea is sound, but I think it is important to point out that thinking purely in terms of terminal wealth at retirement over-simplifies things. (more…)
Choosing tracker funds
at 9:43 am on Thursday, 2 August 2007
In a comment on my recent post on why investor’s should not try to out-perform, Robin Sole brought up the important issue of how to choose tracker funds, and the lack of a good totally passive approach to investment. (more…)
What to avoid: Large cap growth
at 10:27 am on Tuesday, 31 July 2007
Given the size effect and the value effect, it would appear that the worst investment style is large cap growth. I spent some time looking at returns on the French Fama research portfolios and both effects seem to hold, but with some interesting twists. (more…)
The end of academic publishing
at 7:20 am on Thursday, 26 July 2007
It has been clear to many analysts (including myself) for years that publishers of academic journals were facing the slow death of their business. Despite the view of publishers and the more optimistic analysts that peer reviews journals were irreplaceable, the evidence continues to emerge for a slow, but certain, decline. (more…)
You, investor, are a sucker: part 2
at 5:46 pm on Wednesday, 25 July 2007
Richard Beddard’s response to my previous post, is not the end of the argument, although I will go along with his approach and answer his questionnaire.
My view of what it takes to out-perform is not very different from Richard’s, but it is an arithmetical necessity that most investors will not out-perform. I am very skeptical of anyone who claims that they are in the minority who can reliably do so. (more…)
The City and the tax haven
Richard Murphy has a good definition of a tax haven, but I disagree with his idea that having a large financial services sector is an important characteristic, although I do agree with his view that the UK and Ireland are both tax havens. (more…)
