The AAII Journal

September 2013 Issue

Editor's Note »

Editor's Note

thumbnail for Editor's Note This month's issue features a discussion about how to differentiate between luck and skill. It is a topic Michael Mauboussin of Credit Suisse covered in his book "The Success Equation" (Harvard Business Review Press, 2012). When we spoke, Michael opined that skill plays a role if you can affect the outcome.

 

Behavioral Finance »

The Role of Luck and Skill in Investing

thumbnail for The Role of Luck and Skill in Investing Since luck plays a bigger role than skill in influencing investment returns, investors need to focus on their portfolio management process.

 

Beginning Investor »

Debunking Stock Investing Myths

thumbnail for Debunking Stock Investing Myths Avoiding these seven myths can make a substantial difference in your wealth.

 

Financial Statements »

Introduction to Stock Valuation: The Price-Earnings Ratio

thumbnail for Introduction to Stock Valuation: The Price-Earnings Ratio A close look at the most widely used valuation measure, and an explanation of how relative price-earnings ratios can provide more insight as to whether a stock is mispriced.

 

Portfolio Strategies »

Diversification’s Role as a Risk-Reduction Tool

thumbnail for Diversification’s Role as a Risk-Reduction Tool The correlation among the assets you own, instead of the number, is what determines your portfolio’s diversification.

 

Exchange-Traded Funds »

The Top ETFs Over Three Years: Consumer Spending Makes an Impact

Four consumer discretionary ETFs ranked among the 10 best-performing funds, including one ETF that is making its third consecutive appearance on the list.

 

Insurance Products »

The Costs of Owning an Annuity

Costs vary by the type of annuity purchased, but typically include disclosed annual costs, built-in commissions, opportunity costs and tax liabilities.

 
Departments
thumbnail for September 2013 cover article
Cover Articles »

The Role of Luck and Skill in Investing

Since luck plays a bigger role than skill in influencing investment returns, investors need to focus on their portfolio management process.


Topic Archive

Below you can view the complete archives of each AAII Journal topic.