Why Investors Can’t Kick the ‘Past Performance’ Habit
Market history never repeats itself exactly. Trying to convince people otherwise can backfire.
By Jason Zweig, The Wall Street Journal
The human habit of pretending that a rearview mirror is a crystal ball is almost incorrigible. Investors like seemingly coherent explanations of market moves, such as those the news media provides.
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Private Equity: Is There Anything Special There?
By Larry Swedroe, Alpha Architect
When deciding on whether to allocate capital to private equity, investors should consider whether the investment can be replicated more efficiently with public equities by selecting stocks with characteristics similar to those of the buyout targets. Doing so would result in far lower diligence and monitoring costs, dramatically lower management fees, eliminate performance fees, offer daily liquidity, and provide much greater transparency.
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KLEPTOPIA: HOW DIRTY MONEY IS CONQUERING THE WORLD
By Tom Burgis
In this shocking, meticulously reported work of narrative nonfiction, an award-winning investigative journalist exposes “capitalism’s monster” — global kleptocracy — and reveals how it is corrupting the world around us.
