Fashion statement – Why formal clothing may actually be indicative of a more creative thinker

By Ian Kelly Heatwave-inspired dress-down policies can be fraught with danger – as I learned myself the other day when I arrived at the office sporting a coral pink polo shirt my wife had led me to believe was hugely stylish but which my colleagues were eager to tell me was anything but. However, could […]

13 July 2015 by The Value Perspective

News

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The Jellybean Trilogy (Part IV) – How academic research can be as flawed as this title

By Kevin Murphy Here on The Value Perspective, we consider ourselves no slouches when it comes to poking fun at poor medical research (Jellybean Trilogy I, say), poor financial research (Jellybean Trilogy II) and poor statistical science (Jellybean Trilogy III) – not to mention the unquestioning way the media can lap up so-called academic studies. […]

7 July 2015 by The Value Perspective

Investing

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Market farces – Benchmarks may have their uses but gauging portfolio risk is not one of them

By Nick Kirrage Here on The Value Perspective, we have nothing against market indices in themselves but we do worry about how investors sometimes use them. Say you wanted to measure the relative returns on your investments over a suitably long time period, then please – benchmark away. But if you were planning to use […]

6 July 2015 by The Value Perspective

Investing

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Left smarting – Smart beta products may not make bad decisions but they do facilitate them

By Kevin Murphy ‘But guns don’t kill people, people do’ is a line less likely to settle an argument than provoke further discussion and yet it is not impossible to imagine an advocate of so-called ‘smart beta’ investments – strategies that try to build on simple index-tracking products by focusing in on a specific factor, […]

27 June 2015 by The Value Perspective

Investing

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Vanilla fudge – Are some banks reverting to pre-crisis ideas of what constitutes prudent lending?

By Andrew Lyddon A prevalent view among politicians, regulators, the media and other opinion-formers in general is that what tends to get banks into trouble are what are popularly known as their ‘casino banking’ activities – their speculative trading operations and so on. While this is certainly one possible cause of problems, here on The […]

25 June 2015 by The Value Perspective

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Quarter pounder – Just who benefits from the modern-day insistence on quarterly reporting?

By Nick Kirrage From time to time – last month and last October being two examples – the Lex column in the Financial Times will train its intellectual artillery on quarterly projections and other aspects of corporate reporting. Reading these pieces, one senses Lex may be at a loss as to just who might profit from […]

24 June 2015 by The Value Perspective

Expert Opinion

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Merger mystery II – How happy should its investors be that Intel is back on the M&A trail?

By Andrew Lyddon Intel has been back in the merger and acquisition (M&A) headlines. The world’s largest manufacturer of computer chips – which featured prominently among the highly-acquisitive businesses catalogued in the Empirical Research Partners work we discussed in Merger mystery – has agreed to buy programmable processor manufacturer Altera for $16.7bn (£10.8bn). Much has been […]

16 June 2015 by The Value Perspective

News

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Iron deficiency – Why do analysts so rarely drop their long-term commodity price forecasts?

By Nick Kirrage When valuing a mining business, there are plenty of important elements, such as costs and margins, to factor into your calculations but clearly the most important consideration by far is the value of whatever it is the company is taking out of the ground. That being so, it was fascinating to see […]

12 June 2015 by The Value Perspective

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Every little helps – Tesco could benefit from even a small rise in how its pension scheme is valued

By Kevin Murphy The so-called “black hole” (© all media outlets) within Tesco’s staff pension scheme has led to a fair amount of comment in the press of late, with particular consternation provoked by the idea it could take 30 years to pay off this deficit. However, as regular visitors will be aware, here on […]

30 May 2015 by The Value Perspective

Pensions

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UK domestic inflation back above 2%

Price information in today’s revised UK GDP report suggests that domestically-generated inflation has picked up and is running above 2%. GDP growth in the first quarter of 2015 was unrevised at 0.3%, with strong domestic demand offset by a large trade drag. The demand surge was partly due to inventories but this is not necessarily […]

30 May 2015 by The Value Perspective

News

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