The current research of The Brandes Institute shows that international large-cap value stocks recently have experienced a series of rolling five-year periods in which they have either lagged or performed broadly in line with their glamour counterparts. This is their longest stretch of weak...

In “Old Maid,” the kids' card game, the loser was left holding the lone “Old Maid” card. Today, investors holding floating rate bonds (FRBs) or FRB funds may end up in a similar situation – unable to “discard” potentially illiquid bonds as they lose value.Last year, an article from...

Market dislocations and record-low interest rates have spawned interest in unconstrained bond funds amid investors' ongoing quest to boost income and protect capital. Despite its popularity, this non-traditional approach remains mired in complexity. Ironically, it also carries risks that may...

“In this world nothing can be said to be certain, except death and taxes.” — Benjamin FranklinThe Brandes Institute has added a third example to Ben Franklin's famous quote about life's certainties: short-term underperformance among active managers.Over the years, Institute research has...

Passive investing, particularly in emerging markets, has become an increasingly popular means of quick, “diversified” exposure to a particular segment of the markets. Flows into passive emerging market products have been so strong that assets in exchange-traded funds (ETFs) designed to...

Collectively, Americans are woefully unprepared financially for retirement. This retirement problem actually reflects a collection of diverse issues. This paper identifies the most important ones: longevity; access; contributions; portability; behavioral mistakes; funded status; expenses; and...

InvestorLit is a subscription service providing reviews of institutional investment literature. The reviews cover a wide range of investment topics and are published on their website. Bruce Grantier, Founder of InvestorLit, is a member of the Brandes Institute Advisory Board. Members of the...

According to the International Monetary Fund, emerging markets now represent more than a third of global GDP — and are expected to grow at a faster rate than advanced economies. With such explosive growth, investors often assume that an investment strategy focused on growth would yield better...