Klement on Investing

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Killer charts
One of the things every experienced analyst and executive knows is that a good ‘killer chart’ can tell the story we want investors to hear and make them…
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Joachim Klement
2
‘Growth’ is not the same as ‘growth’
The time has come for me to address one of those ‘elephants in the room’ that lies beneath the many meanings of a single word. In investing, we often…
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Joachim Klement
3
Why are large companies so dominant?
The US, and in fact all industrialised markets have a megacap problem. The largest companies in a country or sector take up an ever-increasing share of…
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Joachim Klement
8
How do practitioners use ESG data?
To me, it is always interesting to see what investment practitioners think about ESG and how they use it in practice. No wonder then that I like a new…
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Joachim Klement
How We Judge Drivers Differently Than Other People (And Why It’s Not Like We’re Killing Anyone)
Have you ever noticed how we change our behaviour when we are behind the steering wheel of a car? This 1950 Disney video may look like an exaggeration…
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Joachim Klement
The visible impact of trading in the dark
Dark pools have a somewhat seedy image in the eyes of the public. They conjure up images of shady actors trading stocks anonymously without much…
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Joachim Klement
I will go for outperformance, thank you very much
Take a look at the two funds shown in the chart below with their annual performance vs. their respective benchmarks. Which one of these funds would you…
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Joachim Klement
4
Stick with what works, fiddle with what doesn’t
Assume you have the privilege to coach an NBA basketball team. In the first game, you score a narrow win over your opponent. Will you change your…
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Joachim Klement
2
The first really awesome biodiversity resource
Last year, I asked my readers to let me know if they have any good data on the relevance of biodiversity risks for investments. While I got lots of…
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Joachim Klement
1
Sunday investors vs. Monday investors
In my Friday posts, I write about research that elicits a WTF moment in me. While I will probably never find anything as good as this article again, I…
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Joachim Klement
When hedge funds milk ETF investors
ETFs are great investments. They are low-cost and easy to understand. Yet, they are not without their drawbacks. One well-known drawback is that hedge…
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Joachim Klement
5
This is why you test results in different markets
It is well known that finance results published in academic papers cannot always be trusted. There is a veritable replication crisis in finance as I…
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Joachim Klement
2
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