I don't dispute low vol stocks outperform highly vol stocks. But volatility does not explain all of an asset's risk.

Michael Furey | 1 comment

Unconstrained debt strategies are flavour of the month, and likely to be very popular amongst investors for several reasons. But where do such funds fit in a portfolio?

Michael Furey

It is not surprising that bond managers have significant difficulty in outperforming a market cap-weighted benchmark.

Michael Furey

Across the industry, portfolio rebalancing is the norm - with little agreement on the optimal frequency. So I experimented to find out which frequency is best.

Michael Furey | 2 comments

Using risk factors in evaluating investments in the portfolio construction process can provide valuable information about the true drivers of performance.

Michael Furey

It is fine to have positive returns year-in, year-out as an objective or goal. But, absolute returns should never be presented as an expectation, as disappointment is inevitable.

Michael Furey | 6 comments