"The efficient market theory asserts that the price of a security reflects all available information about its fundamental value. A consequence of the theory is that it is impossible to consistently beat the market and speculation must be a loser's game. Hence, an indexing strategy is bound to eventually beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets ..."
"Craig Bodenstab adopts a realistic view of forecasting. In scientific disciplines,
knowledge is cumulative and built on strong foundations; in finance, knowledge
is greatly influenced by our own experiences. We continue forecasting despite
our horrendous track record because “I don't know” is not an answer that
investors appreciate from their managers. Moreover, even in situations where we
can correctly predict (such as, under cert ..."
"Table 8.7 1 Qtr 1 Year 2 Years 5 Years Sample Source Dividend Yield
Correlation 0.12 0.23 0.33 0.49 Jan 1926 - Dec 2011 CRSP t-stat (1.12) (1.25) (
1.48) (1.95) (10-Yr) Earnings Yield Correlation 0.18 0.33 0.41 0.48 Jan 1926 -
Dec 2011 Shiller (2000) updated t-stat (2.23) (2.55) (2.79) (2.31) Volatility VIX
Correlation 0.12 0.10 0.13 –0.16 Jan 1986 - Dec 2011 CBOE t-stat (0.96) (0.63) (
0.75) (–0.47) Past Volatility Correlation 0.05 ..."
Asset Management A Systematic Approach to Factor Investing by AndrewAng 368 Pages, Published 2014 by Oxford University Press ISBN-13: 978-0-19-938231-6, ISBN: 0-19-938231-X
"Linkers now account for approximately a quarter of all outstanding debt issued by
the U.K. government. TIPS pay a fixed coupon payment that is indexed to CPI
with a lag of three months.7 The interest rate on TIPS is fixed, but the bond's
principal is regularly adjusted for inflation, with the result that investors receive
increasing interest payments when inflation rises. The principal can also fall with
inflation, but it can never ..."
"In America, as in Britain, the Victorian era enjoyed a long life, stretching from the 1830s to the 1910s. It marked the transition from a pre-modern to a modern way of life. Ellen Harmon White's life (1827-1915) spanned those years and then some, but the last three months of a single year, 1844, served as the pivot for everything else. When the Lord failed to return on October 22, as she and other followers of William Miller had predict ..."
Asset Management(1st Edition) A Systematic Approach to Factor Investing (Financial Management Association Survey and Synthesis Series) by AndrewAng Hardcover, 720 Pages, Published 2014 by Oxford University Press ISBN-13: 978-0-19-995932-7, ISBN: 0-19-995932-3
"Stocks and bonds? Real estate? Hedge funds? Private equity? If you think those are the things to focus on in building an investment portfolio, Andrew Ang has accumulated a body of research that will prove otherwise. In his new book Asset Management: A Systematic Approach to Factor Investing, Ang upends the conventional wisdom about asset allocation by showing that what matters aren't asset class labels but the bundles of overlapping r ..."
Finance and Economics Discussion Series Do Macro Variables, Asset Markets, or Surveys Forecast Inflation Better by AndrewAng, Et Al. Paperback, 68 Pages, Published 2013 by Bibliogov ISBN-13: 978-1-288-71101-7, ISBN: 1-288-71101-8
"Surveys do! We examine the forecasting power of four alternative methods of forecasting U.S. inflation out-of-sample: time series ARIMA models; regressions using real activity measures motivated from the Phillips curve; term structure models that include linear, non-linear, and arbitrage-free specifications; and survey-based measures. We also investigate several methods of combining forecasts. Our results show that surveys outperform th ..."
"JJ's Science Adventure is a series of educational comic books designed to help readers master key learning objectives stated in the Singapore Ministry of Education's Primary School Science syllabus. After receiving their birthday presents from their grandfather, Joyce and Jonathon find themselves in possession of two bags which transform into a talking robot (Robo) and a teleportation portal. With a set of keys from Robo, the kids open ..."
The Arabian Nights By Andrew Lang Classics Edition Entertainments, Literature Series Tales, Tales of 1,001 Nights, Annotated. New Deluxe Edition (Paperback) by AndrewAng Paperback, 320 Pages, Published 2020 by Independently Published, United States ISBN-13: , ISBN:
"These collections of tales trace their roots back to ancient Arabia and Yemen, ancient Indian literature and Persian literature, ancient Egyptian literature and Mesopotamian mythology, ancient Syria and Asia Minor, and medieval Arabic folk ..."