Top Five Articles from March: Inflation, Manager Selection, Skill Ratio

1. Why Isn’t There Any Inflation?

Published estimates suggest inflation has been nonexistent despite extended, near-zero interest rates and a near doubling of the M2 private money supply since the recession. But those estimates are misleading, says Brodie Gay.

2. Manager Selection: An Alpha Generator in Multi-Asset Portfolios

Cheap exchange-traded funds (ETFs) and smart beta products are no substitutes for active management, says Ziad Abou Gergi, CFA. But the manager-selection industry needs to adapt to the changing environment and investors’ price sensitivity.

3. Red States, Blue States: Two Economies, One Nation

Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries, writes Joachim Klement, CFA.

4. Skill Ratio: A New Measure for the (Lack of) Persistence in Active Management

Daniel Blais, CFA, introduces a new metric to help identify and differentiate those investment managers who achieve alpha through skill and those who generate it by luck.

5. Increasing Client Withdrawal Rates in Retirement

For retirees, success means, in part, not outliving their money. Two recent studies shed insight on how advisers can help clients accomplish that, Isaac Presley, CFA, reports.

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All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

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