Eugene Fama on Modern Finance

10 Oct 2017 Leave a comment

by Jim Rose in entrepreneurship, financial economics

Graphic that was not published with my op-ed in the @NZHerald

28 Sep 2017 Leave a comment

by Jim Rose in financial economics, managerial economics, organisational economics

Op-ed is here.

Source: MSD, Household incomes in New Zealand: Trends in indicators of inequality and hardship, 1982 to 2016; graphic at https://datawrapper.dwcdn.net/cJKvY/1/

The house always wins even among sin shares

28 Sep 2017 Leave a comment

by Jim Rose in economic history, financial economics

… the mean excess return varies from a low of 5.3% (alcohol), through 9.6% (biotech), 10.0% (adult services), 14.7% (tobacco) and 24.6% (weapons), to a high of 26.4% (gaming).

Source: Dimson E; Marsh P; and Staunton M. “Responsible investing: does it pay to be bad?” Global investment returns yearbook. Credit Suisse Research Institute 2015.

Ben Bernanke only owned tobacco shares when he became chair of the Fed

28 Sep 2017 Leave a comment

by Jim Rose in financial economics, health economics

During the transition period, 1947-1965, shares in the tobacco industry underperformed by 3 percent per year in the USA. Still, it was a temporary trend and the decades from the 1960s to the 2000s, when the health impact of tobacco was well known, saw tobacco companies outperforming comparable firms by over +3 percent per year. 

Source: Responsible Investing: Does It Pay to Be “Bad”?  – Credit Suisse.

Indexing beats Buffett as well as the hedge funds!

19 Sep 2017 Leave a comment

by Jim Rose in financial economics

Source: Marginal REVOLUTION — Small Steps Toward A Much Better World.

Good luck to @NZSuperfund

30 Aug 2017 Leave a comment

Image by Jim Rose

How Expert Are Expert Stock Pickers?

25 Aug 2017 Leave a comment

by Jim Rose in applied price theory, entrepreneurship, financial economics

Is ethical investing a dud? @NZSuperFund @JordNZ @EricCrampton @GreenpeaceNZ

17 Aug 2017 1 Comment

by Jim Rose in defence economics, environmental economics, financial economics, health economics, politics - New Zealand

Imagine how much more would be available for funding old age pensioners, schools, hospitals and kidney machines if you have a passively invested portfolio rather than an ethically invested portfolio. Virtue signalling is not free. Ethical investing significantly underperforms the market even if done by the best of the passive investing funds such as Vanguard.

How is the vice fund going? @NZSuperFund @JordNZ @EricCrampton @GreenpeaceNZ

17 Aug 2017 Leave a comment

by Jim Rose in defence economics, economics of regulation, entrepreneurship, financial economics

Ethical investing is back in the news again; time to look at the investment performance of a fund specialising in investing in the sin industries.

Conclusive evidence that Amazon takeover is pro-competitive

27 Jun 2017 Leave a comment

by Jim Rose in applied price theory, financial economics, industrial organisation, law and economics Tags: ,

.@GreenpeaceNZ @OxfamNZ should invest their Kiwsaver in renewable energy? Step-up!

13 Jun 2017 Leave a comment

by Jim Rose in energy economics, environmentalism, financial economics

Average Income of Top 10% in 2010

31 May 2017 Leave a comment

by Jim Rose in financial economics, human capital, labour economics, labour supply, occupational choice Tags: ,

Amazon vs. Walmart market capitalisation

24 May 2017 Leave a comment

by Jim Rose in entrepreneurship, financial economics Tags:

Speaking of the @NZSuperfund -@TaxpayersUnion

24 Apr 2017 Leave a comment

by Jim Rose in economic history, financial economics Tags: ,

In Pursuit of the Perfect Portfolio: Eugene F. Fama

03 Apr 2017 Leave a comment

Video by Jim Rose

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