a new study presented at this week’s MIT Sloan Sports Analytics Conference is putting that 40 year old conclusion in doubt. The author’s find that a game of skill like basketball does display elements of the “hot hand” effect.
The latest AAII asset allocation survey showed a continued upward crawl in retail investor stock bullishness. The latest equity allocation reading came in at 66.9% which is above the historical average of 60%. This is the eleventh straight month of 60%+ readings which is the longest streak since before the financial crisis.
Every year Barron’s reports on the Penta asset-allocation survey of 40 leading wealth management firms (such as Barclays, Fidelity, Goldman Sachs, JPMorgan, LPL, Morgan Stanley, Northern Trust and the like), which outlines in broad terms what those firms’ base recommended portfolios look like.
I don’t know what it will take for more people to take behavioral finance seriously and assimilate it into their work, but I do think that day is coming. Here’s to hoping it doesn’t take another 2008 style slap upside our economic head to get us there.
“Many have anticipated that the large institutional investors backed by private equity would start winding down their purchases of homes to rent, and the January sales numbers provide early evidence this is happening,”
Myth # 1: Those who believe that Putin’s actions with respect to Ukraine could hurt Russia economically should think again. Global tensions have generally been good for Russia and the current situation is no exception. Russia is not afraid of US administration’s sanctions threats. More dollars are about to start flowing to Putin and his friends (see story).
The week ahead could very well be the most important week of the month. Four central banks from the high income countries meet, the latest purchasing managers surveys will be released and the latest reading on the US labor market will be announced.