Investment Theory
FilterInvestment Theory
Introducing P-CAPE: Incorporating the Dividend Payout Ratio Improves Our Favorite Estimator of Stock Market Returns
June 19, 2024 — The Cyclically-Adjusted Price Earnings ratio, also known as CAPE, has served many investors well - but here at Elm, we think it might be time for an update.
Investment Theory
TIPS Do Offer Valuable Inflation Protection - But You Need to Decide What You’re Protecting
May 7, 2024 — TIPS are a seemingly attractive counter to inflation-related worries, but do they really offer the protection investors are hoping for?
Investment Theory
Merton Share Derivations: What's in your denominator?
May 2, 2024 — Balancing one's portfolio between risky and risk-less assets is no small feat, but there's one rule of thumb that we've found to be largely reliable: the Merton Share.
Investment Theory
Thinking Outside the BOXX
February 27, 2024 — There’s been a lot of excitement about BOXX, a new ETF designed to give investors short-term returns with the tax character of long-term capital gains...but is there a catch?
Investment Theory
Sharpe’s Arithmetic and the Risk Matters Hypothesis
December 1, 2023 — Sharpe’s Arithmetic may seem strange at first, but many see it as being one of the main drivers of the massive growth of index investing.
Interested in more like this?
Subscribe to our mailing list and get notified about new Elm news and research.
50 S. 16th Street
Suite 1700
Philadelphia, PA 19107
