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The Research Puzzle postings

The Tyranny of the Playbook 09/17/25 The Research Puzzle

The great challenge for investment organizations is to continue to evolve beyond what works now and what can be tested, measured, rewarded, and “proven.” The real world is full of fat tails.
The Research Behavior of Professional Investors 07/10/25 The Research Puzzle

An analysis of the research habits of individuals inspires a consideration of the implications of new technologies for the investment processes of organizations.
Common Practices, Best Practices, and Next Practices 02/14/25 The Research Puzzle

With all the talk about best practices, here is a practical way to frame an analysis about where you really are.
Humans, AI, and Organizational Upheaval 11/04/24 The Research Puzzle

The next few years will see dramatic changes as artificial intelligence capabilities are incorporated into existing organizational processes. The effects are being underestimated; it’s time to prepare.
Finding the Right Speed 09/24/24 The Research Puzzle

Everything seems to be moving faster and faster, which makes it a good time to consider how fast different kinds of investment decisions ought to be made for maximum effect.
The Music of Investment Genres and Processes 05/23/24 The Research Puzzle

Why are Duke Ellington, Glenn Gould, Billy Joel, John Denver, Beyoncé, and Trent Reznor hanging around an investment blog? Because the issues of categorization and process that they have dealt with are not unlike our own.
Balancing Exploration and Exploitation in Investment Organizations 01/05/24 The Research Puzzle

Change is an inevitable part of the investment landscape, yet stability of approach is common among organizations. A look at some worthwhile principles regarding the need for ongoing innovation.
Becoming a Learning Organization 09/21/23 The Research Puzzle

Across the history of the Central Intelligence Agency, there have been efforts to understand and take advantage of lessons learned in practice. Maintaining that commitment should be a goal for investment organizations too.
Intellectual Laziness and Illusory Success 07/08/23 The Research Puzzle

An excellent piece about the rise and fall of General Electric hones in on a critical factor in understanding how organizations work (or don’t work).
The Homophily of Hedge Fund Culture 06/28/23 The Research Puzzle

The investment industry has often been referred to as “pale, male, and stale.” The latest posting in a series on social research into investment organizations dives into questions of sameness and difference.
Social Forces and Sell-Side Analysts 06/09/23 The Research Puzzle

Analysts operate within a web of relationships. To assess their estimates or recommendations, you need to understand the social environment in which they are produced.
The Banality of Investment Process 04/21/23 The Research Puzzle

A documentary about the Beatles provides examples that are instructive regarding investment teams and the nature of process.
Four for Friday ~ Letters from the Ecosystem 02/17/23 The Research Puzzle

Communications from MITIMCo, Permanent Equity, Jefferies, and Lindsell Train offer examples and lessons about conveying messages to clients and stakeholders.
Essential Elements in External Networks 12/11/22 The Research Puzzle

Typically, most of the ideas that drive the performance of an investment function are shaped by interactions with others outside of the organization. How do we improve them?

Network Analytics in Investment Organizations 12/04/22 The Research Puzzle

It is time to move from the org chart (and even the “orgorg” chart) to a new level of observation and analysis of organizations, while being aware of the potential pitfalls.