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Learning Curve postings

Three Books about Capital Allocation (Part Two) 03/21/24 Learning Curve

The next posting in this series shifts gears considerably from the first one, focusing on capital allocation principles at the company level.
The Evolution of the Institutional Consulting Business 12/06/23 Learning Curve

Reviewing the history of key parts of the investment ecosystem can provide context for the structures and practices of today. This posting looks at the emergence of the consulting industry by way of a central player in its development.
When Analysts Throw in the Towel 10/21/23 Learning Curve

Investment recommendations, even those presented with a high degree of confidence, can easily go wrong. What factors affect whether someone reverses their previous recommendation or sticks with it?
Four for Friday ~ Ethnography and Investment Analysis 06/30/23 Learning Curve

To wrap up a long series of postings, here are some closing thoughts about the power of cultural evaluations and their importance in understanding the upheavals ahead.
Wall Street Culture and the Shareholder Value Mantra 05/07/23 Learning Curve

The corporate finance and M&A functions of investment banks sit at the nexus of market and corporate activity. The dominant culture within them has permeated the investment ecosystem.
The Killer App Still Dominates in Middle Age 03/24/23 Learning Curve

Microsoft Excel is everywhere in the investment world. A reflection on uses, errors, and history, as well as some wizards of columns and rows.
The Pull of Reciprocity in Decision Making 02/07/23 Learning Curve

From trivial swag to fancy perks, the investment business is full of favors and gifts. How do they affect what decisions we make?
Dimensions of Learning for Investment Professionals 12/18/22 Learning Curve

What types of knowledge are important for investment professionals? How should they be trained? Alix Pasquet offers some thoughtful and differentiated ideas.
Four for Friday ~ Benchmarking 11/04/22 Learning Curve

A look at common principles for benchmark selection, some challenges to their use by asset owners and mutual funds, and three examples of benchmark evaluations from investment providers.

Four for Friday ~ Research Foundation Readings 09/09/22 Learning Curve

Here are some good readings courtesy of the CFA Institute Research Foundation (among many others that could be cited), regarding important aspects of the investment ecosystem, behavioral finance, fiduciary responsibility, and the financial crisis.
Reviewing the Asness Peeves 08/14/22 Learning Curve

What “things said or done in our industry or said about our industry” bug you? Here’s a look back at a popular list from several years ago.
Communicating in the Virtual World 07/27/22 Learning Curve

What are the advantages and disadvantages of remote versus in-person communication? The answers to that question are important for designing organizations (and for advancing one’s career).
Four for Friday ~ 13F Filings 06/17/22 Learning Curve

The 13F disclosure rules have spawned infrastructure in the ecosystem and quarterly accounts about manager moves. Some quick takes on the rules, copycatting, and research on performance.
Hunting for Edges that Others Didn’t See 05/21/22 Learning Curve

The times, tools, and tactics that allowed Pimco to thrive are examined in the second posting about the firm and its leader, Bill Gross.
In the Belly of the Beast 05/13/22 Learning Curve

The second part of a series about the 1990s and 2000s in the investment business covers a couple of personal accounts of analysts from the times.