A recent research paper looks at the impact of "The Donald" on markets, while a second examines the impact of robo-advice on investor behaviour.

Two recent papers looking at hedge funds provide further evidence that the more proactive managers are the best performers.

Two recent research papers on investment management look firstly at the implications of overconfident managers and, secondly, at career risk associated with poor investment performance.

Markowitz informed us of the risk-reduction advantages of diversification. But just how diversified does an investor have to be to realise almost all of the benefits of diversification?

Two recent academic papers focus on how advice provided to investors might be distorted. The first relates to the disposition effect; the second looks at the impact compensation on advice given.

Eugene Fama described momentum investing as the one remaining market anomaly. A recent paper gives an explanation for it. Another shows it still offers high profits after implementation costs.

Recent research examines the performance of active bond managers, and the impact of performance fees on returns of active equity funds and private equity funds.

In nine pages, this paper says all that needs to be said on the ability of any of us to estimate the true value of financial assets. The next two papers produce conflicting findings on the impact of index investing on markets.

The holy grail is to find active managers who can add value. The combined insights of these two papers suggest avoiding large managed funds, especially those under the control of managers who run a concurrent SMA.