Sitemap - 2023 - Klement on Investing

Christmas Edition: Red-Pilled about Santa

What will 2024 bring?

Challenging conventional wisdom

Trigger happy: the maths

Once more with feeling…

Christmas Party Edition

Trigger happy

When investors ruin a great asset class

First you predict, then you take risks

We’ve got bigger fish to fry…

Germans don’t care that much about beauty; Italians, meanwhile…

The economic impact of populists

AI as a job creator

Shifting blame for underperformers

I didn’t know that did you?

Let’s talk about sex(ual capital)

How do businesses adopt innovations?

Hard work pays off

Wealth taxes are a bad idea

Let them evade taxes

The investment benefit of healthy teeth

An interesting way to detect future earnings disappointments

You can make money looking at sentiment

When will Skynet arrive?

Yet another reason not to trust ESG ratings

Are you not entertained?

This could become a problem for Europe in 2024

The strange attraction of circuit breakers

Making money while undermining democracy worldwide

How much damage have we already done?

This would be a great feature on mobile phones

Average is not the same as median…

So, you’re trying to manage inflation…

AI makes people more effective if they embrace it

A survey of voting intentions

Curiosity shocked the human

A complicated chart with an important message for fund selectors

Banks really aren’t that complicated

A generation of hopeless activists?

Why we should enforce antitrust laws more

I am pretty sure this is nonsense

Bubbles and rumours

Good times can beget good times

Nut up or shut up

Another reason not to use ESG scores

Need to negotiate a contract: Here is some guidance

On that r-g thing again

Why the post-earnings announcement drift happens

How to become a better investor: Avoid stress

Corporate purpose statements: Mostly hot air?

Suburbs are depressing

Tails between our legs

If you really have to do that…

They really do that…

Are we outsourcing pollution?

Nobody expects the Spanish rain prayer

Of boiling frogs and underperforming investments

Sequence Risk

French are socialists, Greeks are lazy, Europeans are bad at capitalism…

Would you buy sin stocks?

Gender norms and tax forms

I hope this is going somewhere

The ECB as a bellwether for the Fed

It takes brains to take advantage

Your pay is determined by the gender of your boss

Looking for a job abroad? Don’t move to Germany

More can be better – education edition

More can be better

Is this the monetary policy of the future?

The cost of carbon taxes to the economy…

Playing tennis in the heat

Using AI in an earnings call

Not even the machines are rational

Our future is Japan

How much are green buildings worth?

How to run a company

Investing for immortals

The drag on earnings growth from higher interest rates

EV adoption in the US

Vorfreude

Blame big tech for the lack of IPOs

Against Cassandras: The performance impact of Cassandras

Has the Phillips Curve become steeper?

Divest or engage on social matters?

The partisan portfolio divide

If you want to spend less, pay cash…or with a mobile phone

Against Cassandras: World War III

Bear market investors think different

The value of audit committees

We have been doing this all wrong

It’s not just in your head, it’s in your eyes as well

Against Cassandras: The Euro

Forget about the Fed decision

Sustainable investments and risk taking

You put a little bit in

About those share buybacks

Against Cassandras: Inflation

Winter is coming

Nobody expects the Spanish rain prayer

No, short-term investors are not bad for a company

What a writer

The UK’s productivity problem: It’s not lazy workers

Against Cassandras: The government debt ‘bomb’

What not to say on an earnings call

People think sustainable investments underperform, except the ones who invest in them

Of chicken and eggs, but not as you think

How far we have come

Against Cassandras: Interest rate normalisation

The disposition effect messes with you

Have you considered hiring a CEO from a not-for-profit?

Want to raise capital? Look at the weather forecast

Are investor-paid ratings really better?

Against Cassandras: The US Dollar

How to spot a house price bubble

AI, automatization and retirement

To get more done, do less

ChatGPT is learning to forecast

Against Cassandras

Read more into read-across

Insider trading, 21st century edition

Swimming pools make you happy

A thought about bank profitability

The busy recession?

How to reform government finances

Another use of voluntary turnover data

I am glad, I didn’t participate in this study

Sentiment cycles created by institutional investors

Costs are certain, so what happens when you remove the costs?

We really are bad at forecasting markets

People like their fossil fuels until they are hit by a hurricane

Killer charts

‘Growth’ is not the same as ‘growth’

Why are large companies so dominant?

How do practitioners use ESG data?

How We Judge Drivers Differently Than Other People (And Why It’s Not Like We’re Killing Anyone)

The visible impact of trading in the dark

I will go for outperformance, thank you very much

Stick with what works, fiddle with what doesn’t

The first really awesome biodiversity resource

Sunday investors vs. Monday investors

When hedge funds milk ETF investors

This is why you test results in different markets

Dividends matter, growing dividends matters more

From scam to spam

You really need to correct for intangibles

When narratives take over

Second best is first to lose

This explains why my performance is so good and my career so bad…

Income vs. expense shocks

Why the sell-side is NOT harder than the buy-side

Corporate tax increases in a globalised world

Engage or withdraw? What do the largest fund managers do?

How much of your salary is punitive damages?

Which asset allocation works best? A rear-view mirror back to 1926

Hedge funds: Flying solo or managing as a team?

The productivity problem of Chinese companies

Greenwashing with green bonds

You can do it. No, really, you can

The curse of having to invest in large caps

Material inflation risks or: why a US listing may be riskier than you think

Trickle me, Elmo

The hidden benefit in Morningstar fund ratings

How best to finance innovation

Why would you buy expensive stocks?

What makes shareholders engage with companies?

The ABC of noise traders

Equal-weight = robustness

A boost to productivity growth from AI?

Star analysts think they know better

Diversity washing is increasingly a thing

Dream on*

Abstract thinking matters

From too much research to too few start-ups

If only we could have known beforehand

We need to talk about carbon credits

Show me your playlist and I tell you how you invest

Strategic thinking matters

Do we produce too much research?

Forward guidance and the ‘Greenspan moment’

A chat about geopolitics, business, and investments

The impact of ESG scandals

Get rich in your sleep

The real-life costs of central banks missing their inflation targets

A deeper dive into our productivity puzzle

Winning the global losers game

Do fund managers believe in ESG?

Good old times, innovation edition

Global Britain or Britain alone?

The world’s most common forecasting mistake

The cost of the Peter Principle

Sustainability-linked loans with room for improvement

The World Cup is long over, time for an honest evaluation of English players

Risk seeking when fearful

The information tortoise vs. the breaking news hare

Interest rates vs. earnings in 2023

Knowledge transfer in organisations

Liars will lie

The lethargy of large caps

News vs. sentiment

Regrets, I’ve had a few

It’s legal, but should it be?

Gen Z really is different

Stories > Statistics

Kickbacks are bad for clients, banning kickbacks is even worse

Hiking rates in a shifting economy

Stakeholder management in action

I knew it, you knew it, here is the data

On the importance of long-term earnings forecasts

How a wage-price spiral looks like

The detachment of the Fed Open Market Committee

How much is a sustainability label worth?

Free speech absolutism is dangerous

Equal weighting works, but why?

Does China or Russia benefit from US sanctions?

Are people going to hold more cash in the future?

ESG is a trust issue

How do people have a midlife crisis?

The problem with executive compensation plans

The most important equation or why Bitcoin has to average 30% return a year to break even with the S&P 500

Your investment portfolio has nothing to do with who you are

Buying green houses in Texas

So this is why the British love their tea

Narcissistic risk takers

About those inflation expectations

Cutting the right costs

Scope 3 emissions and the cost of debt

DO YOU HEAR ME?

7 decision errors in investment management

7 decision errors in business

Life is messy