At recent levels of exchange rate volatility, hedging currency exposure greatly enhances the
diversification potential of foreign investments. By following a hedged policy, US investors …

In 1979, in a pioneering work in behavioral finance, Franco Modigliani and Richard Cohn
showed that investors tend to undervalue firms in inflationary times if they do not properly …

… 2 Evan Schulman is the founder of Lattice Trading and a consultant to State Street Bank in
… Evan is a New Englander by choice, having emigrated from Canada. He has adopted the …

The dramatic reduction in institutional commission costs has led to substantial growth in both
the number and size of institutional trades. However, there has been little corresponding …

Revenue recognition certificates provide returns as a specified function of a company’s
sales or gross revenues over a defined period of time in the future. To explore whether …

With the level of management fees, it is argued that it is not in the interest of money managers
to undertake some research activities benefiting their clients, net of costs. There could thus …

Passive trading is a technique that the" buy side" of Wall Street uses to lower transaction costs.
If the rules are set correctly, the passive trader should trade at less cost than the average …

The problem of valuing interest-dependent securities depends upon accurate estimation of
the term structure of interest rates, especially when the cash flows of the securities being …

The problem with the current US federal debt is not only its size but how soon it needs to be
refinanced. A shade less than 70% of the $12 trillion of federal debt in public hands matures …

WEAVER: A couple of months ago, Bob Schwartz and I were talking about what we could
do to make this conference special. Bob said, “Wouldn’t it be great if the Dow hit 10,000 the …