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Actively Managed Versus Passive Mutual Funds
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Book Synopsis Active versus Passive Management by : Larry E. Swedroe
Download or read book Active versus Passive Management written by Larry E. Swedroe and published by John Wiley & Sons. This book was released on 2010-12-16 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The active versus passive debate is a contentious issue. Filled with concrete evidence and comprehensive money management strategies, this chapter from The Only Guide You'll Ever Need for the Right Financial Plan delves into the case for passive investing over active investing. You can do so by investing in passively managed investment vehicles like index funds and passive asset class funds. You are virtually guaranteed to outperform the majority of both professionals and individual investors. Written for savvy investors and advisors, this chapter helps you: Integrate a passive investing strategy Maintain your portfolio's risk portfolio in a tax-efficient manner Determine the difference between the theories of efficient versus inefficient markets Make cost-effective investment decisions From Larry Swedroe, the author of the bestselling series of "The Only Guide" investment books, with Kevin Grogan and Tiya Lim, this chapter helps you integrate diversification, low turnover, and asset allocation into one plan that meets the needs of a unique situation.
Book Synopsis Actively Managed Versus Passive Mutual Funds by : Atanu Saha
Download or read book Actively Managed Versus Passive Mutual Funds written by Atanu Saha and published by . This book was released on 2018 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper demonstrates that the average investor would be better off by following a readily-implementable strategy of investing in a portfolio of the five largest active funds in U.S. equity, fixed income and international equity asset categories than investing in a corresponding portfolio of passive index funds. The active-fund-portfolio outperforms not only in terms of average returns, but also in risk-adjusted returns, providing far greater downside risk protection than the passive fund portfolio. This paper has important implications because its findings question the 'wisdom' of index investing, which has been receiving considerable attention in the financial press in the recent years.
Book Synopsis The Elements of Investing by : Burton G. Malkiel
Download or read book The Elements of Investing written by Burton G. Malkiel and published by John Wiley & Sons. This book was released on 2020-09-29 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seize control of your financial future with rock-solid advice from two of the world’s leading investment experts Investors today are bombarded with conflicting advice about how to handle the increasingly volatile stock market. From pronouncements of the “death of diversification” to the supposed virtues of crypto, investors can be forgiven for being thoroughly confused. It’s time to return to the basics. In the 10th Anniversary Edition of The Elements of Investing: Easy Lessons for Every Investor, investment legends Burton G. Malkiel and Charles D. Ellis deliver straightforward, digestible lessons in the investment rules and principles you need to follow to mitigate risk and realize long-term success in the markets. Divided into six essential elements of investing, this concise book will teach you how to: Focus on the long-term and ignore short-term market fluctuations and movements Use employer-sponsored plans to supercharge your savings and returns and minimize your taxes Understand crucial investment subjects, like diversification, rebalancing, dollar-cost averaging, and indexing So, forget the flavor of the week. Stick with the timeless and invaluable advice followed by the world’s most successful retail investors.
Book Synopsis The Historical Record on Active Vs. Passive Mutual Fund Performance by : David Nanigian
Download or read book The Historical Record on Active Vs. Passive Mutual Fund Performance written by David Nanigian and published by . This book was released on 2019 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the risk-adjusted performance of actively managed mutual funds vs. passively managed mutual funds between 1991 and 2018 and finds that the statistical significance of the difference in performance between the two types of funds disappears when the passively managed funds are compared to competitively priced actively managed funds. The practical implication of this study is that, setting tax considerations aside, as long as investors are cost conscious in their fund selection process, investing in passively managed funds does not meaningfully improve investor outcomes.
Book Synopsis The Bogleheads' Guide to Investing by : Taylor Larimore
Download or read book The Bogleheads' Guide to Investing written by Taylor Larimore and published by John Wiley & Sons. This book was released on 2006-04-20 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within this easy-to-use, need-to-know, no-frills guide to building financial well-being is advice for long-term wealth creation and happiness, without all the worries and fuss of stock pickers and day traders.
Book Synopsis The Power of Passive Investing by : Richard A. Ferri
Download or read book The Power of Passive Investing written by Richard A. Ferri and published by John Wiley & Sons. This book was released on 2010-12-07 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to passive investing Time and again, individual investors discover, all too late, that actively picking stocks is a loser's game. The alternative lies with index funds. This passive form of investing allows you to participate in the markets relatively cheaply while prospering all the more because the money saved on investment expenses stays in your pocket. In his latest book, investment expert Richard Ferri shows you how easy and accessible index investing is. Along the way, he highlights how successful you can be by using this passive approach to allocate funds to stocks, bonds, and other prudent asset classes. Addresses the advantages of index funds over portfolios that are actively managed Offers insights on index-based funds that provide exposure to designated broad markets and don't make bets on individual securities Ferri is also author of the Wiley title: The ETF Book and co-author of The Bogleheads' Guide to Retirement Planning If you're looking for a productive investment approach that won't take all of your time to implement, then The Power of Passive Investing is the book you need to read.
Book Synopsis The Little Book of Common Sense Investing by : John C. Bogle
Download or read book The Little Book of Common Sense Investing written by John C. Bogle and published by John Wiley & Sons. This book was released on 2017-09-19 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The best-selling investing "bible" offers new information, new insights, and new perspectives The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500. While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor. Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing. A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett, who said this about Bogle: “If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. . . . Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.” Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world's best financial minds: not only Warren Buffett, but Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale’s David Swensen, Cliff Asness of AQR, and many others. This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future. Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation. Forget the fads and marketing hype, and focus on what works in the real world. Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade. Recognize that in the long run, business reality trumps market expectations. Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs. While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner’s game into a loser’s game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.
Book Synopsis Active vs. Passive Investment Strategies. Is either one superior? by : Stina Seidler
Download or read book Active vs. Passive Investment Strategies. Is either one superior? written by Stina Seidler and published by GRIN Verlag. This book was released on 2020-11-05 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2020 in the subject Business economics - Investment and Finance, grade: 1,0, Berlin School of Economics and Law, language: English, abstract: There are two different approaches underlying investment management: active and passive investment strategies. This paper analyzes these two different schools of thought when facing portfolio management and whether either one is superior. It starts with a short insight into the Efficient Market Theory because it the basis of the argumentation between the active versus passive strategies. After understanding the groundwork, the work continues to look deeper into the two different approaches, starting with the active on. In order to be able to compare and evaluate the two approaches, it is necessary to understand, what they consist of and how they work, which strategies each approach uses to accomplish their objectives and what kind of advantages or disadvantages can occur. Over the past half-decade, capital markets have gained a growing importance for economy and society. More and more business enterprises decide to enter the capital market to finance themselves rather than borrowing money from credit institutions. Simultaneously, more and more investment opportunities for institutions and private persons arise. In general, investments are made to create return in order to increase wealth. Over the past decades, the number of investments has increased sharply, and the trend is still going strong. This trend causes constantly growing, moving and changing financial markets all over the world. As a result, investors have to overcome many (new) challenges and have to put a lot of factors into consideration in order to be able to make the best investment choices with the brightest promising future.
Book Synopsis Efficiently Inefficient by : Lasse Heje Pedersen
Download or read book Efficiently Inefficient written by Lasse Heje Pedersen and published by Princeton University Press. This book was released on 2019-09-17 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.
Book Synopsis The Handbook of the Economics of Corporate Governance by : Benjamin Hermalin
Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
Book Synopsis Can Actively Managed Mutual Funds Outperform the Market by : Jiahe Lin
Download or read book Can Actively Managed Mutual Funds Outperform the Market written by Jiahe Lin and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The debate regarding active versus passive investment has never abated over the past few decades. There is a great controversy about whether actively managed mutual funds can beat the market both in the short run and in the long run. The key difference between two different types of investment lies in aspects such as turnover ratio, expense fees, tax benefits and so on. This paper builds on previous studies and develops a more comprehensive perspective on funds performance. The first part of the thesis analyzes how the average returns from 1998 to 2017 perform against the S&P 500 return with both gross returns and net returns taken into consideration. It also analyzes the correlation between expense ratio and the overall returns. The second part mainly deals with the hot hand phenomenon and tests the persistence of mutual funds returns over longer periods such as 5 or 10 years. The ratio of funds that continue to beat the market in the next subsequent 1, 3, 5, 10 years is then calculated. Finally, the paper combines all the testing results and judge that the average performance of actively managed mutual funds perform no better than the passive investment which tracks the market index. The winning funds can hardly become the winner over the longer time periods. Investors should pick the funds that beat the market over time instead of just looking at the results of a particular year. Overall, passive funds that track market index such as S&P has provided more satisfactory results from many angles based on the statistics conducted from 1998 to 2017.
Download or read book Index Funds written by Mark T. Hebner and published by IFA Publishing, Inc.. This book was released on 2007 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial services industry has a dark secret, one that costs global investors about $2.5 trillion per year. This secret quietly drains the investment portfolios and retirement accounts of almost every investor. In 1900, French mathematician, Louis Bachelier, unsuspectingly revealed this disturbing fact to the world. Since then, hundreds of academic studies have supported Bachelier's findings. This book offers overwhelming proof of this, and shows investors how to obtain their optimal rate of return by matching their risk capacity to an appropriate risk exposure. A globally diversified portfolio of index funds is the optimal way to accomplish this. Index Funds is the treatment of choice for wayward investors. Below market returns in investment portfolios and pension accounts are the result of investors gambling with their hard earned money. This 12-Step Program will put active investors on the road to recovery. Each step is designed to bring investors closer to embracing a prudent and sound strategy of buying, holding, and rebalancing an index portfolio.
Download or read book Index Funds written by Armani Murphy and published by Summareads Media LLC. This book was released on 2020-02-26 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are you ready to get started with laying a foundation for your future, using a tried and true passive income avenue? Then you're ready to learn about investing in index funds. Unlike more traditional forms of mutual fund investments, which are actively managed by the investor or by the broker, investing in index funds results in passive income: meaning that after the initial investment, you don't need to put regular time, effort, or expense into your investment. Since you, as the investor, don't need the help of analysts and managers to give you advice on what to invest in, it cuts down on the expenses necessary to maintain your portfolio. And many experts say that passive investments actually perform better than actively managed, higher-risk investments. Index funds are one way to work along with the market, rather than trying to play against it and win. Passive income created through index funds is a great way to build for your future, including creating a higher return for your retirement income. Index Funds: Passive Income Idea for Complete Beginners - A Stock Marketing Investment Strategy that Withstood the Test of Time will help you build your future from the ground up. Read this book to learn the following: The basic terms and meanings you need to know, including indexing, benchmarks, management expense ratio, and portfolios The most popular indexes in use today, and why How index funds compare to passively managed funds Pros and cons of an index fund account What passive income can do for your future Success stories brought about by index funds Why index funds are recommended for building up your retirement income, and How to get started with your own portfolio Regardless of what stage of life you're in, it's never too soon to put your income to work for you via investments. Now is the time to start thinking about your future! Let this book be your best guide to a reliable source of passive income.
Book Synopsis An Investigation Into the Comparative Performance of Actively Managed and Passive Funds for the Swedish Equity Investor: An Analysis of Risk-adjusted Returns by : Jacob Dreijer
Download or read book An Investigation Into the Comparative Performance of Actively Managed and Passive Funds for the Swedish Equity Investor: An Analysis of Risk-adjusted Returns written by Jacob Dreijer and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of saving money for your future self is by some deemed essential if not necessary, and to potentially make the deposit appreciate, the money needs to be invested. Investing can be done in various investment vehicles, and some of the most popular ways to invest in Sweden are mutual funds, especially in actively managed funds. However, previous research indicates that it comes at a cost, namely expenses that ultimately affect the investor's return. This study sought to investigate the risk adjusted performance of actively managed funds compared to passively managed funds. In order to test this, data was gathered from Refinitiv Eikon by entering the specific criteria by which, 48 active funds and 12 passive funds were selected. To statistically test if the performance generated by actively managed funds were better than passively managed funds, T-tests were employed. The test results, in conjunction with selected performance measurements, were analysed. The study showed that, on aggregate, actively managed funds performed better than passively managed funds before and after expenses. Further investigation showed that by excluding actively managed funds that specifically invest in small capitalization companies, actively managed funds did not manage to perform better than passively managed funds net of expenses. This outcome enlightens the implications the fund selection done by retail investors could have on the risk-adjusted return and continues the discussion about active funds and their added value.
Book Synopsis European Mutual Funds by : Noyes Data Corporation
Download or read book European Mutual Funds written by Noyes Data Corporation and published by . This book was released on 1973 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Great Mutual Fund Trap by : Gregory Baer
Download or read book The Great Mutual Fund Trap written by Gregory Baer and published by Currency. This book was released on 2002-09-24 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Convinced that your star mutual fund manager will help you beat the market? Eager to hear the latest stock picking advice on CNBC? FORGET ABOUT IT! The Great Mutual Fund Trap shows that the average mutual fund consistently underperforms the market, and that strategies for picking above-average funds -- everything from past performance to expert rankings -- are useless. Picking individual stocks on the advice of brokers and analysts works no better. The only sure things are the fees and commissions you’ll pay. Fortunately, the news is not all bad. Investors willing to ignore the constant drumbeat of “trade frequently,” “trust the experts,” and “beat the market” now have the opportunity to do better. Using new investing products investors can earn higher returns with lower risks. Drawing on their years of Wall Street, Treasury and Federal Reserve experience, Gary Gensler and Gregory Baer offer a fresh and realistic look at how money is managed in America. From new indexing strategies to risk-managed stock selection, The Great Mutual Fund Trap offers investors an escape from high costs and immunity from seductive marketing messages.
Book Synopsis Comparison of Active and Passive Investment Strategies for Equity Funds by : Alexander Dieter Beck
Download or read book Comparison of Active and Passive Investment Strategies for Equity Funds written by Alexander Dieter Beck and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
