Paul McCaffrey

Views strictly my own.

[Research Foundation @CFAResearchFndn]

New Publication! The equity risk premium is commonly thought of as one of the most important concepts in investing - https://t.co/kx4s5PCYO3
See what the following experts think about it:

- Roger Ibbotson
- Elroy Dimson
- Cliff Asness
- Rob Arnott
- Mart…https://t.co/vXHILMTBgl

[CFA Institute @CFAinstitute]

In a wild year for markets and investing, what @Enterprising content most resonated with readers?

@AdvisorUnbiased, on retirement income strategies; Jacques Cesar on CAPM; @ericsim_iol on 3 forms of capital; Roger Mitchell on @AswathDamodaran; & more.

https://t.co/xqjWyBhHjb

[CFA Institute @CFAinstitute]

"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." — @CliffordAsness

@LaurenceBSiegel, @WGoetzmann, & others discuss the Equity Risk Premium.

via @Enterprising

https://t.co/BL8EEpXClc

[CFA Institute @CFAinstitute]

Has the hedge property overtaken the investment property of fixed-income assets?

@LaurenceBSiegel, @CliffordAsness, Antti Ilmanen, and Rajnish Mehra, among others, explore this & more, in the Equity Risk Premium Forum.

@PaulMcCaffrey7 via @Enterprising
https://t.co/WqKMAcl14P

[CFA Institute @CFAinstitute]

"Why does the level of the nominal rate have anything to do with the equity risk premium?"

@JohnHCochrane and Thomas S. Coleman of @HarrisPolicy further explore the nature of inflation and the fiscal theory of the price level.

via @Enterprising

https://t.co/7z6rkGeR0Y

[CFA Institute @CFAinstitute]

How did @ericsim_iol go from washing bowls at his father’s noodle stand to serving as a managing director at UBS Investment Bank?

It comes down to financial capital, human capital, and #socialcapital, @PaulMcCaffrey7 explains.

via @Enterprising

https://t.co/ys8QlZSV3H

[CFA Institute Research and Policy Center @CFA_RPC]

“When you do your job under scrutiny, it’s tough. But when nobody is watching, it’s even tougher because you need to uphold an even higher standard.” — @ericsim_iol

#socialcapital

via @PaulMcCaffrey7

https://t.co/owHYIFQ99Z

[CFA Institute @CFAinstitute]

“How many here think the next 10-year equity returns are going to be below the long-run average?" Jeremy Siegel asks.

"I certainly do. Is there anyone here who doesn’t?”

@LaurenceBSiegel
@CFAResearchFndn
@CliffordAsness
@WGoetzmann
@PaulMcCaffrey7

https://t.co/5lRqD9yq5h

[CFA Institute @CFAinstitute]

Does the equity risk premium vary depending on the term structure?

@LaurenceBSiegel, Rob Arnott, Elroy Dimson, Roger G. Ibbotson, Antti Ilmanen, Martin Leibowitz, Rajnish Mehra, & Jeremy Siegel weigh in on this & more.

@PaulMcCaffrey7 via @Enterprising
https://t.co/toCiZR7muz

[CFA Institute @CFAinstitute]

"We are now producing at & beyond the supply capacity of the economy. The economic problem now is to control inflation & get to work on the supply side of the economy."

Thomas S. Coleman & @JohnHCochrane explain.

@Enterprising
@HarrisPolicy
@HooverInst

https://t.co/Q7veiDTRD4

[Paul McCaffrey @PaulMcCaffrey7]

@TrentTelenko Way to flush your credibility down the toilet. #unfollowed

[CFA Institute Research and Policy Center @CFA_RPC]

"Historically, all significant inflations have come from fiscal problems. Countries that are running steady primary surpluses and growing happily never seem to have inflation no matter how dimwitted their central bankers." — @JohnHCochrane

#inflation

https://t.co/WN2fdx1493

[CFA Institute @CFAinstitute]

.@CliffordAsness, Rob Arnott, Roger Ibbotson, @LaurenceBSiegel, and other luminaries explore the nature of bubbles and the momentum factor in an excerpt from their latest discussion of the equity risk premium.

@PaulMcCaffrey7 via @Enterprising

https://t.co/c2cNifsoIG

[CFA Institute Research and Policy Center @CFA_RPC]

Some predict the embargo will initiate a Russian financial collapse very quickly, while others expect it will constitute more of a long and slow drag on the economy.

@JoachimKlement of @CFAResearchFndn provides a serious, data-driven analysis.

https://t.co/RBlSwYZUMv

[CFA Institute Research and Policy Center @CFA_RPC]

Prediction: The Future Will Be Different

When @Enterprising debuted 10 years ago, no one could have anticipated the wild gyrations of the last 18 month or the tantrums and flash crashes of the last decade.

Yet here we are.

@PaulMcCaffrey7 looks back.

https://t.co/iBAMEtCMgQ

[CFA Institute @CFAinstitute]

How has #ESG investing evolved over the last decade?

To mark the 10th anniversary of @Enterprising, Rhodri Preece, CFA, curates a diverse collection of EI's ESG coverage that serves as a window into both the ESG debate and the development of the space.

https://t.co/hQYFGwLlKU

[CFA Institute @CFAinstitute]

What can behavioral finance offer investors?

With insights from Daniel Kahneman, @RobertJShiller, @R_Thaler, @meirstatman, etc., @Enterprising's coverage the last 10 years shows how the behavioral lens can help inform investment decision making.

https://t.co/XQQVvPzT4f

[CFA Institute @CFAinstitute]

In investment portfolios, Harry Markowitz said, “the only free lunch is diversification.”

@ericsim_iol demonstrates that the same holds true in our professional lives.

@PaulMcCaffrey7 via @Enterprising

https://t.co/qdlopL8iCe

[CFA Institute @CFAinstitute]

The more complex and diffuse a problem becomes, @DukeFuqua's Dan Heath explained at the #AlphaSummit, the less likely it is to have a clear line of ownership.

“When no one owns a problem, it probably won’t get solved.”

@PaulMcCaffrey7 via @Enterprising https://t.co/fH5P3SSnM6