Observations by Dorian Young February 22, 2023
The Global Industry Classification Standard (GICS®) will undergo minor modifications next month, on March 17. So minor in fact, that if you blink, you may miss the event! Only 14 stocks in the S&P 500® Index will be moving to a new sector. These stocks represent...
Observations by Patrick Geddes January 26, 2021
In the past 18 months, we’ve witnessed some extraordinary changes in how retail stock investors trade, from the broad shift for many brokerage firms toward zero commissions to the jump in trading by individuals in 2020, presumably a result of the pandemic...
Observations by Dorian Young August 22, 2018
The Global Industry Classification Standard (GICS®) will be revamping its shrunken Telecommunication Services sector (now just 1.9% of the S&P 500 Index) into a hot, newly renamed Communication Services sector...
Observations by Lisa Goldberg June 1, 2017A Cornucopia of Losses: The US Equity Market Has Been Great for Taxable Indexers but Hard on Active Managers
Critics are quick to point out that active management is a sub-zero-sum game. The high fees active managers charge make after-fee active returns lower, on average, than after-fee returns to an exchange-traded fund (ETF) that tracks...
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