In Focus

  • Week InReview: January 18, 2018

    • Friday, January 18, 2019

    Yesterday, the Securities and Exchange Commission "announced charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC's EDGAR [Electronic Data Gathering, Analysis, and Retrieval] system and extract nonpublic information to use for illegal trading."

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  • Week InAdvance: January 14, 2019

    • Monday, January 14, 2019

    Mon Jan 14 Asia Financial Forum. | Tue Jan 15 Brexit vote in London. | Wed Jan 16 Fed's Beige Book. | Thu Jan 17 G20 deputy finmins in Tokyo. | Sun Jan 20 Super blood wolf moon.

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  • Week InReview: January 11, 2019

    • Friday, January 11, 2019

    What do professional investors do? "We document a striking pattern: while the investors display clear skill in buying, their selling decisions underperform substantially. Positions added to the portfolio outperform both the benchmark and a strategy which randomly buys more shares of assets already held in the portfolio. This result holds both in terms of raw returns and adjusted for risk. In contrast, selling decisions not only fail to beat a no-skill strategy of selling another randomly chosen asset from the portfolio, they consistently underperform it by substantial amounts. PMs forego between 50 and 100 basis points over a 1 year horizon relative to this random selling strategy, depending on the specification. As with buys, the selling result is robust when adjusting for systematic risk of the assets sold." Selling Fast and Buying Slow: Heuristics and Trading Performance of Institutional Investors

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The Association of Institutional INVESTORS is an organization of the oldest, largest, and most trusted federally registered investment advisers in the United States. All our members have a fiduciary duty to put their clients' interests first. Put simply, it's not our money. Our members' clients include companies and labor unions, public and private pension plans, mutual funds and 401Ks, and individuals and families who depend on our firms to help them provide for their retirements, to have funds available to educate their family members, to meet other obligations, and to support their financial aspirations. Collectively , the Association's members manage investments for more than 80,000 ERISA pension plans, 401Ks, and mutual funds on behalf of more than 100 million American workers and retirees.

Our financial markets connect companies to investors and borrowers to lenders to help corporations create jobs, cities and states build needed roads, bridges, and schools, families finance homes and cars, and pension plans at all levels meet their obligations. These markets allow thousands of organizations and millions of individuals to invest in America, sharing in the success of our nation's businesses and maintaining a stake in the strength of cities, counties, states, and our country.

Our financial markets can only fulfill their highest purposes when they are open, transparent, and provide a level playing field for all market participants, and when they are supported by prudent regulation and strong investor protections. All the Association's efforts are toward these ideals.