Signal vs. Noise: Stock Market Concentration Concerns
A New Book, A Familiar Message: Stay Calm
The Freedom to Choose What Comes Next
Living Our Values: Reflections From Hill’s 2026 Summer Interns
The Player or the House?
Favorite Author: Michael Lewis
In case you missed Michael Lewis on 60 Minutes, check out this eight minute interview on what’s wrong with Wall Street and why he moved his money from his old brokerage firm.
Did you miss the upswing? Paul Lim of the NYT
Were you out of the stock market when it turned around in March? You’ve got plenty of company. We suggest reading this recent article by Paul Lim of the NYT. Click here for the full article.
If an Active Fund Doesn’t Die, Does it Win?
It should come as no surprise that active funds do not outperform their benchmarks over a significant time period, but take a look at the data. This graph shows the percentage of funds in the surviving universe (29% do not survive) that beat their benchmark in consecutive years. In the first year (2004), 33% of the funds were winners, but by year five (2008), only 1.4% of the funds (38 out of 2,619) had consistently outperformed their benchmark. Click here for the slide.
