ETF’s that ate the world
Interesting graphic from the Investment Company Institute showing the flows of cash into index ETF’s and out of actively managed funds.
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Even when they’re profitable every day, high-frequency traders aren’t making much money
Virtu Financial—one of the world’s largest computerized trading firms—made money every trading day last quarter. The problem is that it made less of it than in the past, as volatility in the financial markets has dried up in recent months. Big price swings are good for high-frequency trading strategies, as machines can swoop in and take advantage…
Road To Nowhere
It has been awhile since blog central had a look at the All Ords and its staggering lack of ability to go anywhere. The full extent of the rubbish nature of the local market at present can be seen below when the performance is compared to the S&P 500 and NASDAQ 100. This lack of…
Fund Manager Scorecard
Each year Standard and Poors produce a scorecard of the performance of a regions fund managers against their comparison indices. You can find the raw scorecards here. I decided to download the one for Australia and tidy up the data a little so it was more presentable. The chart below looks at the number of…
Is the world really better than ever?
B the end of last year, anyone who had been paying even passing attention to the news headlines was highly likely to conclude that everything was terrible, and that the only attitude that made sense was one of profound pessimism – tempered, perhaps, by cynical humour, on the principle that if the world is going to…
Random Thoughts From Life On the Road
LB and I have just wrapped up about a month of travelling to different states and presenting, which is something we haven’t done for probably 15 years. It was an interesting adventure and good to get out from behind the screen and talk to people. When I go anywhere I try and be a keen…
The new astrology
Since the 2008 financial crisis, colleges and universities have faced increased pressure to identify essential disciplines, and cut the rest. In 2009, Washington State University announced it would eliminate the department of theatre and dance, the department of community and rural sociology, and the German major – the same year that the University of Louisiana…
A Century of Evidence on Trend Following
AQR recently updated its paper A Century of Evidence on Trend Following and whilst the updated hasn’t changed the basic conclusion of earlier versions it is worth unpacking some of the main point of the paper. The paper in its introduction makes an immensely important point that is lost on most – As an investment…
Do combat sports encourage violence or teach respect and discipline?
Excellent interview with my good mate and training partner Jarrod on Radio National. You would be surprised at where you find things that are trading related.
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