The Ad-Free Personal Finance Blogs Aggregator
394 entries from 732 weblogs - update in progress... - bookmark us!
Finally, an ad-free aggregator for personal finance, real estate, and investing blogs!
New! (Nov 1) We've finally optimized the way you can ping pfblogs.org to automatically let us know you've updated your blog. This is a feature for Friends only! Check out more updates on pfblogs.org speaks.

Viewing entries for Financial Page Friend of pfblogs.org (518 visits / rating: 5.22)

View all blogs (popular) | Personal finance (popular) | Real estate (popular) | Investing (popular) | Visit Financial Page

Tuesday, December 12, 2020
From Financial Page - view blog entries - visit this blog
December 12, 2020 at 4:18 am ET
Survey Finds Federal Workers Share Poor Retirement Planning With All Workers, but Have More Savings; Employer Spending on BenefitsExecutive Summary:Survey Finds Federal Workers Share Poor Retirement Planning With All Workers, butHave More SavingsHigher expectations, same bad planning: A survey of the federal civilian work force shows that federal workers expect to retire earlier than American workers as a whole and say they have saved more money—but are almost as bad at planning for retirement as all workers. Results of the online survey of federal civilian workers by the Office of Personnel Management (OPM) allow a number of comparisons between the ... (more)

Monday, December 11, 2020
From Financial Page - view blog entries - visit this blog
December 11, 2020 at 12:38 pm ET
Can Overreaction Explain Part of the Size Premium?Demirtas, K. Ozgur and Guner, A. Burak, "Can Overreaction Explain Part of the Size Premium?" (2006)Abstract: This paper uncovers several new empirical regularities in the historical returns of small stocks. First, within the sample of firms that have low market capitalizations, stocks with low past profitability ("laggers") bring returns significantly higher than those of stocks with high past profitability ("leaders"). Second, the well-documented size premium (i.e., the risk-adjusted returns to small stocks) is generated largely by small laggers. Moreover, both patterns are particularly pronounced at earnings-announcement dates, suggesting that unexpected ... (more)

Wednesday, December 6, 2020
From Financial Page - view blog entries - visit this blog
December 6, 2020 at 11:03 pm ET
Fundamental Indexation and International DiversificationEstrada, Javier, "Fundamental Indexation and International Diversification" (December 2006)Abstract: As much as fundamental indexation is novel and controversial, international diversification is traditional and widely accepted. This article links both issues and evaluates a fundamental strategy of international diversification. Considering 16 country benchmarks that make up over 93% of the world market capitalization and a 32-year (1974-2005) sample period, the results here show that a dividend-weighted fundamental index outperforms a cap-weighted index by the substantial margin of 1.9% a year. However, if investors are willing to abandon cap-weighted portfolios, the results here also show that ... (more)

From Financial Page - view blog entries - visit this blog
December 6, 2020 at 1:47 am ET
World By Numbers ReportInvestors continued the bull market that started in August, though at a slower pace, as some consolidation occurred. Oil prices rebounded from last month, but remain significantly below their summer highs. S&P expects Oil to continue to trade in the low-to-mid US $60 range. Geopolitical concerns generally subsided, with U.S. elections changing control of both the upper and lower chambers. Both Emerging and Developed Markets posted gains, but Developed Markets were more cohesive than Emerging ones. Growth and Value stocks again advanced in pardon, with results mostly dependent on specific countries.26 of the 27 Developed Markets posted ... (more)

Tuesday, December 5, 2020
From Financial Page - view blog entries - visit this blog
December 5, 2020 at 11:15 pm ET
Comprehensible paper on commodities as an asset class:Is the Case for Investing in Commodities Really That Obvious?Additional Kat papers on commodities:What Every Investor Should Know About Commodities, Part I: Univariate Return AnalysisKat, Harry M. and Oomen, Roel C.A., "What Every Investor Should Know About Commodities, Part I: Univariate Return Analysis" (January 26, 2021)Abstract: In this paper we study the univariate return properties of a large variety of commodity futures. Our analysis shows that the volatility of commodity futures is comparable to that of US large cap stocks. Yet, with the exception of energy, a consistently positive ... (more)

Monday, December 4, 2020
From Financial Page - view blog entries - visit this blog
December 4, 2020 at 10:39 pm ET
BFRB December Mutual Fund ReportSales and RedemptionsTotal assets for all funds increased in October by $286.6 billion, or 3.0 percent, to $10.0 trillion. Money market funds had a net cash inflow of $32.5 billion compared to an inflow in September of $15.4 billion. Other funds (equity, hybrid, and bond) had a net cash inflow of $24.4 billion, compared to an inflow of $11.8 billion in September. New sales of nonmoney market funds, the purchase of new shares excluding reinvested dividends, were $151.3 billion in October, down from $123.9 billion in September. The value of non-money market assets appreciated by $218.7 ... (more)

Saturday, December 2, 2020
From Financial Page - view blog entries - visit this blog
December 2, 2020 at 12:59 pm ET
Iboxx December Rebalancing ReportDecember Bond Market statistics for the following investment categories:AsiaEuropeInflation LinkedSterlingUS Dollar ... (more)

From Financial Page - view blog entries - visit this blog
December 2, 2020 at 12:20 pm ET
Funds for Retirement:The ‘Life-Cycle’ Approach Catherine D. GordonKimberly A. StocktonVanguard Investment Counseling & ResearchExecutive summaryLife-cycle funds have attracted increasing interest because they answer the desire of many plan participants for a single, professionally planned, comprehensive investment that requires little or no maintenance by the individual. For plan sponsors, too, life-cycle funds can be useful from afiduciary perspective, particularly as default options. In choosing a type of life-cycle fund, sponsors should consider the trade-offs involved, fund methodologies, and the unique characteristics of the participants in the plan. ... (more)

From Financial Page - view blog entries - visit this blog
December 2, 2020 at 4:10 am ET
International equity: Considerations and RecommendationsChristopher B. Phillips, CFA, Vanguard Investment Counseling and ResearchExecutive summaryInternational equities currently account for about 50% of global market capitalization, representing a sizable opportunity beyond U.S. borders. Over the past 36 years, returns and volatility have been similar across developed markets. Over the same period, however, international stocks have served to diversify portfolios focused on U.S. equities, reducing average volatility. Despite the size and potential benefits of international markets, some U.S. investors have been slow to venture abroad. According to various market surveys, international equities represent only approximately 11% of the typical institutional plan sponsor portfolio. ... (more)

Thursday, November 30, 2020
From Financial Page - view blog entries - visit this blog
November 30, 2020 at 10:34 pm ET
How to Evaluate a New Diversifier with 10 Simple QuestionsKat, Harry M., "How to Evaluate a New Diversifier with 10 Simple Questions" (November 27, 2020). Alternative Investment Research Centre Working Paper No. 39Abstract: In this paper we discuss a number of important questions to ask when analyzing a new alternative diversifier from either a stand-alone, asset-only or asset-liability point of view. The framework is simple, but highly effective. Apart from the new diversifier's statistical properties, it emphasizes the importance of properly accounting for parameter uncertainty and illiquidity; two elements very often ignored by investors. It also ... (more)

Wednesday, November 29, 2020
From Financial Page - view blog entries - visit this blog
November 29, 2020 at 11:59 am ET
Home Prices Continue to Soften According to the S&P/Case-Shiller Home Price IndicesNew York, November 28, 2020 – Data released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices in the United States, shows signs of a continued deceleration in home prices....as of September 2006, annual gains in home prices are at lows not seen since mid-1997, marking the slowest annual appreciation in housing in more than nine years. September 2006 is up only 3.7% from a year ago, compared to a peak of 20.5% in mid-2004.Home price gains continue on a ... (more)

Monday, November 27, 2020
From Financial Page - view blog entries - visit this blog
November 27, 2020 at 12:04 pm ET
The Determinants of Mutual Fund Performance: A Cross-Country StudyFerreira, Miguel A., Freitas Miguel, António and Ramos, Sofia Brito, "The Determinants of Mutual Fund Performance: A Cross-Country Study" (November 2006). Swiss Finance Institute Research Paper No. 31Abstract: This paper studies the performance of mutual funds around the world using a sample of 10,568 open-end actively managed equity funds from 19 countries between 1999 and 2005. Performance is measured using four alternative benchmark models, including an international version of the Cahart four-factor model. We regress abnormal performance on fund attributes such as age, size, fees, management structure, and management ... (more)

Sunday, November 26, 2020
From Financial Page - view blog entries - visit this blog
November 26, 2020 at 12:54 pm ET
Option Backdating and Board InterlocksContinuing the academic research examination of corporate backdating of options: Bizjak , John M., Lemmon, Michael L. and Whitby, Ryan J, "Option Backdating and Board Interlocks" (November 2006)Abstract: We provide insight into how the controversial practice of backdating employee stock options spread across firms. Our analysis indicates that interlocking boards played a significant role in the spread of backdating. In some empirical specifications more than half of the unconditional probability that a firm starts to backdate is explained by having a board member linked to another firm that already backdates. We also find that firms ... (more)

Saturday, November 25, 2020
From Financial Page - view blog entries - visit this blog
November 25, 2020 at 1:09 pm ET
Vernimmen November NewsletterNEWS:Islamic financeTHIS MONTH'S GRAPH : Yield curvesRESEARCH: IPO theory and practiceQ&A: What is staple financing? ... (more)

Wednesday, November 22, 2020
From Financial Page - view blog entries - visit this blog
November 22, 2020 at 11:56 am ET
High Yield, Low PayoutPatel, Pankaj N., Yao, Souheang and Barefoot, Heath, "High Yield, Low Payout" (August 15, 2020).Abstract: High Yield and Low PayoutWhat is the optimal combination of dividend yield and payout ratio for the investors? We tested companies within the S&P 1500 and found that investors should look for companies with a high yield and low payout ratio for their portfolios. The high dividend yield and low pay out ratio basket of stocks had the best performance in our backtest since 1990.Dividend YieldHow has the plain dividend yield strategy worked over the years? Stocks with high yields ... (more)

Tuesday, November 21, 2020
From Financial Page - view blog entries - visit this blog
November 21, 2020 at 1:38 pm ET
SPIVA: Canadian Funds Third Quarter The S&P Indices Versus Active Funds (SPIVA) Scorecard reports performance of actively managed Canadian mutual funds corrected for survivorship bias and shows equal- and asset-weighted peer averages.Year to date, actively managed Canadian Equity funds and US Equity funds have lagged indices. Only 26.7% of Canadian Equity funds outperformed the S&P/TSX Composite Index, and only 21.6% of US Equity funds outperformed the S&P 500 Index. In contrast, 56.3% of SmallCap Equity funds have outperformed the S&P/TSX SmallCap Index.Over longer time periods, we continue to observe indices outperforming a majority of active funds. Over the five-year period ... (more)

From Financial Page - view blog entries - visit this blog
November 21, 2020 at 12:02 pm ET
The continuing mind numbing explosive creation of ETF's continues as Rydex files for acceptance of 99 new leveraged ETFS. These funds leverage on both the up and downsides of market performance. Three main categories will be offered:1. Dynamic, offering 200 percent exposure to the underlying index.2. Inverse, offering (-100) percent exposure to the underlying index.3. Dynamic Inverse, offering (–200) percent exposure to the underlying index.These funds will compete with the leveraged offerings from Profunds (prospectus.)The preliminary prospectus for the Rydex offering can be accessed here.Wisdom Tree has also filed for approval of 31 new ETFs, some of ... (more)

Monday, November 20, 2020
From Financial Page - view blog entries - visit this blog
November 20, 2020 at 12:26 pm ET
< href="http://www.bc.edu/centers/crr/issues/ib_56a.pdf"> What Happens to Household Portfolios After Retirement?by Courtney Coile and Kevin MilliganIntroductionThe typical older household in the United States now arrives at retirement with an array of financial resources. These resources usually include home equity, vehicles, and bank accounts and may also include financial assets such as Individual Retirement Accounts (IRAs) and stocks or other property like small businesses and real estate.These assets are important for the financial security of older households. Households may use them to finance routine consumption in retirement or reserve them to cope with the financial consequences of a negative event like the death ... (more)

Saturday, November 18, 2020
From Financial Page - view blog entries - visit this blog
November 18, 2020 at 1:46 pm ET
Special thanks to Jim Mahar of Finance Professor for the following:LUCKY CEOSLucian Bebchuk, Yaniv Grinstein, and Urs PeyerAbstractWe investigate opportunistic timing of option grants during the period 1996-2005, focusing on the relation between grant manipulation and corporate governance. Our methodology for identifying and estimating the incidences of grants likely to have been manipulated focuses on how grant date prices ranked within the price distribution of the grant month. Investigating the incidence of "lucky grants" -- defined as grants given at the lowest price of the month – we estimate that about 1150 lucky grants were manipulated and that 12% ... (more)

Thursday, November 16, 2020
From Financial Page - view blog entries - visit this blog
November 16, 2020 at 4:46 pm ET
MSCI, the established leader in international indexing, has announced an "enhancement" of their line of international indexes, undoubtably a response to the fact that market index providers Russell, Dow Jones Wilshire, and S&P are all establishing their own lines of competitive international indexes.MSCI has published two consultation papers on the new methodologies and on the transition, due to occur in March 2007.The proposed changes will result in expanded size and style indexes, in both developed and emerging markets, as well as in combined investable indexes that will cover 98% of the available international market cap. Large, Mid and Small Cap ... (more)

Wednesday, November 15, 2020
From Financial Page - view blog entries - visit this blog
November 15, 2020 at 12:59 pm ET
John Bogle's recent speech at the Denver Colorado, The "Charging the Game" Forum, has been posted on his blog:Ethical Principles and Ethical Principals.Bogle urges the adoption of a "fiduciary society" to transmogrify the current "agency society" which evolved out of an earlier "ownership society." ... (more)

Tuesday, November 14, 2020
From Financial Page - view blog entries - visit this blog
November 14, 2020 at 10:35 am ET
The Military Officers Association of America (MOAA) has announced the selection of Vanguard as the 529 Plan fiduciary for officers and enlisted men. The plan is available to both current and former military personnel, and can be implemented with as little as 50 dollars through Automated Investment (and internet application). See the press release for further details:Press releaseVanguard has also announced a reduction of expense rations for the plan. Future cost reductions are likely as plan assets grow and economy of scale cost reductions are passed through to accoung holders. ... (more)

Thursday, November 9, 2020
From Financial Page - view blog entries - visit this blog
November 9, 2020 at 12:06 pm ET
Defaults and Returns in the High Yield Bond Market: The Year 2005 in Review and Market OutlookAltman, Edward I. and Pasternack, Brent, "Defaults and Returns in the High Yield Bond Market: The Year 2005 in Review and Market Outlook"Abstract: Dr. Altman has earned an international reputation as an expert on corporate bankruptcy, high yield bonds, distressed debt and credit risk analysis. In this article, Altman and his team provide a comprehensive review of the 2005 high yield bond market. The article provides detailed long-term analysis of the US market, as well as trends in default, bankruptcy, recovery ... (more)

From Financial Page - view blog entries - visit this blog
November 9, 2020 at 3:12 am ET
Employment-Based Retirement Plan Participation:Geographic Differences and Trends, 2005from EBRI: Latest CPS Data: This Issue Brief examines the level of participation by workers in public- and private-sector employment-based pension or retirement plans, based on the U.S. Census Bureau’s March 2006 Current Population Survey (CPS), the most recent data currently available. Sponsorship Rate: About 58 percent of all working-age (21–64) wage and salary employees work for an employer or union that sponsors a retirement plan. Of these working-age employees, slightly less than half (47 percent) participate in a retirement plan.Participation Level: Among full-time, full-year wage and salary workers ages 21–64 (those with ... (more)

Wednesday, November 8, 2020
From Financial Page - view blog entries - visit this blog
November 8, 2020 at 7:34 am ET
PBS Frontline has rebroadcast a critical examination of the nation's retirement system. You can access the interviews and written material for the program at PBS Frontline: Can You Afford to Retire. One can also view the program on-line, from the referenced link.The program highlights problems with both the Defined Benefit pension system (rapidly becoming obsolete) and the rising Contributory Benefit system, which brings with it a number of problems. The program considers:Low levels of worker participation in these plansInadequate funding of these plans by workersPoor investment results for most employeesThe burden of self managing the plansThe program does ... (more)

| | | | | | | | |