Financial Times (September 11)
“To global portfolio managers, the Tokyo stock market has spent the past few years looking ever more like an old curiosity shop. Everyone knows there are bargains galore in there but who can be bothered to study the cluttered and poorly labelled shelves.” Perhaps Warren Buffett will finally show money managers the way into “overlooked Japan.”
Tags: Bargains, Bothered, Buffett, Cluttered, Curiosity shop, Global, Money managers, Overlooked Japan, Portfolio managers, Stock market, Tokyo
Institutional Investor (April 6)
“PNC Capital Advisors is putting its large-cap mutual funds under a factor-based computer model.” Now that quant funds tend to outperform human stock pickers, at least in the large-cap space, the move seeks to reduce costs, improve performance and attract more investors. “Quantitative factor-based models” appear to “reduce human being’s tendency to make behavioral mistakes. Portfolio managers are prone to confirmation bias as human beings are rarely swayed by new information that goes against long-held beliefs.”
Tags: Confirmation bias, Costs, Investors, Large caps, Mutual funds, Performance, PNC, Portfolio managers, Quantitative, Stock pickers
Institutional Investor (September 30)
A volatile third quarter has come to the close. “With the final stretch for 2015 about to begin, portfolio managers must now take stock of the carnage and decide whether market dynamics have permanently shifted in response to changing macro forces, or if long-term trends are set to extend beyond this recent volatility.”
