| Green Money Journal - Sustainable Asset Management |
Brent Kessel |
August 2007 |
| How two of the country's top financial planning and money management companies marry their clients' needs for personal financial contentment with a mission to make a positive impact on society. |
| Active vs. Passive Management |
Rex A. Sinquefield |
October 1995 |
| A transcript of Rex Sinquefield's opening statement in a debate about active vs. passive management with Donald Yacktman at the Schwab Institutional conference in San Francisco, October 12, 1995. |
| The Dimensions of Stock Returns: 2002 Update |
Truman A. Clark |
April 2002 |
| Earlier research of Fama and French, that found size and book-to-market best explain the variation in stock returns, is updated through 2001. |
| Earnings Growth and Stock Returns |
Truman A. Clark |
August 2000 |
| Many investors and financial commentators believe high earnings growth rates and high rates of return go hand-in-hand. But earnings growth only determines the breakdown of total returns into dividend yield and capital gain. Total expected returns are determined by risk alone. |
| The Error Term |
Eugene Fama Jr. |
December 2001 |
| In spite of having constructed a diversified portfolio, the disciplined investor will still notice at any given time a small number of highly volatile stocks that seem to threaten to undermine the goal of the portfolio. This, however, is an example of random error that must be tolerated but can be explained. |
| Explaining Stock Returns: A Literature Survey |
James L. Davis |
December 2001 |
| Some of the important financial theories underlying the behavior of stock returns are summarized. Results of several empirical studies into these theories are also described. |
| Index and Enhanced Index Funds |
David G. Booth |
April 2001 |
| Though they were only launched in the early 1970s, index funds have attracted many investors lured by the logic and overwhelming empirical evidence in support of indexing. This paper develops a case for the use of index funds and Dimensional's enhanced index funds. |
| The Information in the Term Structure: An Update |
James L. Davis |
October 2000 |
| For most forecasting horizons, the best predictor of spot interest rates is the current interest rate. This implies there is more information in the term structure about expected returns than future interest rates. |
| Is There Still Value in the Book-to-Market Ratio? |
James L. Davis |
January 2001 |
| Despite recent arguments to the contrary, there is no evidence of book-to-market ratio (BtM) becoming irrelevant for identifying value stocks. Compared to popular alternatives, BtM is at least as good at producing dispersion in average returns. |
| The New Indexing |
Eugene Fama Jr. |
July 2000 |
| Old school indexers claim that holding anything beyond the market portfolio is akin to stock picking. But market risk is only one factor driving returns, and an index fund that takes advantage of other dimensions of risk is not betting—it's the new face of indexing. |
| Random Drift and Asset Allocation |
David G. Booth |
July 1999 |
| The unusually strong performance of large cap stocks in the late 1990s is put into perspective. Patterns in the historical returns represent the normal drift of a random walk. |
| Trading is Hazardous to Your Health |
Brad M. Barber & Terrance Ordean |
April 2000 |
| A paper that outlines some very surprising results of individual investor performance when stock-picking is employed. |
If there are areas of research you would like to see papers on that you do not see listed, please contact us, as there are more available.
