Sitemap - 2022 - Klement on Investing
Christmas edition: Santa Claus is everywhere
Monetary policy may have a longer lag than we thought
Do robots mean the death of the middle manager?
Is China going to be the largest economy in 2100? Or India? Or sub-Saharan Africa?
We do not know which events will make history
Do credit markets price scope 3 emissions?
Are you a struggling book publisher? Here is a tip to boost your sales
Which monetary policy goal is best?
Don’t trust those younger siblings
The market is becoming less discerning
What matters for fund investors is not what should matter
From drought to food inflation
How WWII bombs influence office rents today
No, dividend yield is not a reliable predictor of future returns
How much of the stock market is held by passive investors?
Millennials, welcome to the party that was over twenty years ago
Another look at the long-term trend in real rates
Mild with a chance of catastrophe
Because that is where the gold is
Employees quit bosses, not jobs
Toxic workers are bad for business
Buy what you know: Fund edition
Trolls need their holidays as well
The link between corporate taxes and growth
Infrastructure as an inflation hedge?
In praise of the (good) middle manager
Socially responsible fund managers manage their portfolios more responsibly
That new watch really makes you less likeable
Value fund managers: Let your winners run
The impact of high inflation on the housing market
Should executives be paid for their ESG performance?
An important question about the equity risk premium
Burn coal and stop building renewables
The internet is (not just) for porn
Musings on the Fiscal Theory of the Price Level
Google makes you overconfident…and ruins your performance
How bad is this recession going to be?
Narcissists and conspiracy theories
Has 2022 made investors shy away from stocks?
The one good thing about high inflation
About that exclusion thing again
Cryptocurrencies are not currencies. Discuss.
If you read this on a smartphone, you’re probably not going to understand it
Who benefits from lower corporate taxes?
Making the case for more active central banks
Green jobs vs. fossil fuel jobs, part 2
Correction: FIFA World Cup predictions
Back to my favourite topic in Italian economics…
Is a new golden age of value coming?
Prudent youngsters, reckless oldies
Value and momentum yes, size and CAPM no
Is the Fiscal Theory of the Price Level a solution? Here are my open questions.
Can ESG practices reduce corporate fraud?
Statistical shenanigans or: Sell on the rumour, buy on the news
Is this another case of a product based on incomplete research?
What if growth isn’t exponential, but linear?
You can’t reverse the ESG trend anymore
Corporations are ants, not people
The Hitchhiker’s Guide to Investment Research, Part 5: The Two Razors
Hitchhiker’s Guide to Investment Research, Part 4: Trust but falsify
The Hitchhiker’s Guide to Investment Research, Part 3: Time is Money
Hitchhiker’s Guide to Investment Research, Part 2: Theory vs Practice
The Hitchhiker’s Guide to Investment Research, Part 1: Busy Fools
The seasonality of sustainable fund flows
90% of spreadsheets contain errors
Social skills get you a higher wage
The fundamental problem for every investment adviser
Green jobs vs. fossil fuel jobs
Samhallsbyggnadsbolaget i Norden
What should central banks do? Asking some economists
East end boys and west end girls
Was it really Fed policy that ended high inflation?
Working harder or working smarter; what helps analysts?
Impact funds aren’t that impactful
Measuring successful marketing
I do not look forward to a recession
Momentum by day is not the same as momentum by night
The hidden emissions of ESG portfolios
Does your accounting firm have connections with the mafia?
Extremely successful? Extremely lucky!
MiFID II and research: Did it change anything?
The worst policy makers in my lifetime
Once again: ESG investing is not about performance
Money does make you happy, especially when others don’t have it
Two narcissists walk into a bar
What does the rise of index funds do to fund flows?
The demand for investment strategists
Daughters make for better performance
Take a step back and count your blessings
Do we have to fear a wage-price spiral?
The power of narratives in the US stock market
+1–1 equals: anything from +1 to -1
What do fund managers focus on in ESG funds?
Overconfident managers as a poison pill
Good governance includes succession planning
Moneyball for the movie industry
A short history of minimum wage research
Professionals use ESG information differently
Cultural differences re-examined
Don’t bother forecasting the next 12 months
Intangible assets and rate hikes
Biodiversity: It’s only the beginning
About that velocity thing again
How do companies deal with inflation and supply chain disruptions?
The voting record of asset managers
Google makes you overconfident
We really don’t know what drives inflation
Checking the foundations of economics
What if we valued the US government like a company?
Do insiders get better at insider trades?
Market efficiency: Active vs. passive vs. HFT
Good news for public transport
Could it really be that simple?
So, interest rates are going to rise…
Picking clients is harder than picking stocks
Conceptual vs. experimental entrepreneurs
Treating your employees better is good business, but…
Don’t ever, EVER invest in football clubs
What’s in an investment theme?
Never, ever trust stock market seasonality
Flat hierarchies, or how to reduce productivity in a business
Goldman Sachs to embrace evidence-based investing
What do we need for the wage-price spiral to accelerate?
Flexible retirement age increases income inequality
How effective is green investment spending?
Petrified in a bear market – until you see an exit sign
This is one of the weirdest anomalies I have ever seen
Is quantum computing going to break the blockchain?
Carbon risks and credit spreads
The Russia–Ukraine War and Other Geopolitical Risks
The music industry is ruining itself
A little history lesson for all of us
The global debt overhang and interest rates
How long can Russia withstand the sanctions?
The changing impact of divestments
When Anglo-Saxons go to Europe
Insider stock trades and the concept of ‘Ma’
Don’t trust management forecasts
Retail investors pay too much for ETFs
Does SFDR matter for fund managers?
It really is the attention economy
There is more than one global central bank
More bad news for active fund managers…
Green investments during the pandemic: Bond edition
Palm reading, investment edition
Is this why cryptocurrencies are better than gold?
2 plus 20 really doesn’t work for clients
The cost of dining with a Bond girl
In praise of the EU’s fiscal policy
The stock tips from your buddy? They really aren’t good
On the sell side, the good ones use ESG news, too
Bump up your sales, give your customers stocks
NFT or what to buy if cryptocurrencies aren’t volatile enough for you
Why inflation data will be even less representative of your cost of living this year
Equity duration around the world
E for the short-term, S and G for the long-term
Equality for all: Freedom for toilets
The fading glamour of FAANG stocks
The long run is lying to you – or is it?
At least there is one upside to narcissistic CEOs
Men want to survive, women want money
Measuring valuation uncertainty
Analyst information and investor reaction, not a match made in heaven
Going green as a value investor
In person meetings are just better
How expensive is the US market, really?
How much does that protection asset protect you in your currency?
Inflation expectations are less important than you may think
The good and bad about China’s climate ambitions
Time to check your risk appetite
The 52-week high glass ceiling