Creative destruction in cable
29 Aug 2015 Leave a comment
in industrial organisation, market efficiency, survivor principle Tags: creative destruction
Entrepreneurial alertness in filming police brutality
25 Jul 2015 1 Comment
in economics of crime, entrepreneurship, law and economics, managerial economics, market efficiency, organisational economics, personnel economics Tags: crime and punishment, criminal deterrence, entrepreneurial alertness, law enforcement, police, police brutality
Do vice funds out-perform the share market?
13 Apr 2015 Leave a comment
in entrepreneurship, financial economics, market efficiency, TV shows Tags: active investing, efficient markets hypothesis, entrepreneurial alertness, ethical investing, passive investing, Sopranos, vice funds
The Vice Fund has outperformed the S&P 500 since 2004. They invest in sinful stocks as its managers describe it:
Designed with the goal of delivering better risk-adjusted returns than the S&P 500 Index. It invests primarily in stocks in the tobacco, alcohol, gaming and defence industries. Vice Funds believe these industries tend to thrive regardless of the economy as a whole.
The Vice Fund was founded in 2002 to specialise in socially irresponsible stocks such as gambling, alcohol , tobacco and defence contracting. The Vice Fund is not recession proof, but did do better in the 2009 market crash.
The Vice fund also has high management fees of 2%. Americans can buy Vanguard’s or Fidelity’s index funds and pay only 0.1% in expenses. The Vice Fund may have buckled under the heat because it has rebranded:
The Vice Fund is now called the Barrier Fund. The investment strategy and the portfolio manager have not changed… The Barrier Fund invests in companies, both domestic and foreign, within industries that have significant barriers to entry.
All is not lost, the Ave Maria Catholic Values Fund beat the market almost as handily as Vice.
To confuse further, the Catholic Values Fund revealed that it shared investments in defence contractors with the Vice Fund. The Vice Fund invested in staid Berkshire Hathaway and Microsoft.
HT: Investing in Vice.
Simon-Ehrlich wager
20 Mar 2015 Leave a comment
in market efficiency, resource economics Tags: activists, commodity prices, doomsday prophecies, Julian Simon, Paul Ehrlich, peak oil, Simon-Ehrlich wager
The Evolution Of The Employee
09 Feb 2015 Leave a comment
in health and safety, human capital, labour economics, labour supply, managerial economics, market efficiency, occupational choice, organisational economics, personnel economics Tags: modern human resource management
Deirdre McCloskey on big bills on the sidewalk
08 Feb 2015 Leave a comment
in applied price theory, entrepreneurship, market efficiency Tags: Deirdre McCloskey, efficient markets hypothesis, entrepreneurial alertness, forecasting
HT: Cafe Hayek
Utopia, you are standing in it! 
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