Investment Strategy
- Gold as a Strategic Asset
This paper examines the case for gold as a long-term or strategic investment for U.S. institutional investors.
Authors: Richard O. Michaud, Robert O. Michaud, & Katharine Pulvermacher
Publication: World Gold Council, September 2006 - Return Objective for Social Security Private Accounts: A Review of the President's Commission Investment Alternatives
The authors analyze the return objectives of the accounts proposed by the President’s Commission on Social Security Reform.
Authors: Richard O. Michaud, Robert O. Michaud & Noah Kraut
Publication: February 2005 Newsletter - Investment Styles, Market Anomalies, and Global Stock Selection
This monograph reflects an ongoing effort to improve the technology of global stock selection and addresses practical issues in the management of global equity portfolios.
Authors: Richard O. Michaud
Publication: The Research Foundation of the Institute of Chartered Financial Analysts, January 1999 - Twenty Years of International Equity Investing
Marketplace evidence from the 1970s to the 1990s indicates that thoughtful international equity diversification can improve the risk/return characteristics of investors’ portfolios.
Author: Richard O. Michaud
Publication: The Journal of Portfolio Management. Fall 1996 - Currency Hedging Policy
This article reviews and discusses five important hedging theories.
Author: Richard O. Michaud
Publication: October 1, 1994 - Are Long-Short Equity Strategies Superior?
Claims of superiority of long-short investing often reflect misunderstandings of basic concepts of modern investment management and may result in unrealistic expectations.
Author: Richard O. Michaud
Publication: Financial Analysts Journal. November/December 1993 - Dividend Tilt Portfolios, The Tax Effect and Misspecified Returns
Dr. Michaud examines and discusses the relationship between dividend yield and stock returns.
Author: Richard O. Michaud
Publication: Heard on the Random Walk, Bache, NYC, August 1979 - The Actuarial Interest Rate as an Investment Objective
Dr. Michaud questions the frequent use of a pension plan's actuarial interest rate in defining investment strategies and asset mixes.
Author: Richard O. Michaud
Publication: Heard on the Random Walk, Bache, NYC, September 1979 - Market Inefficiency and Asset Pricing Theory: Recent Trends II
Dr. Michaud discusses a survey of studies challenging Efficient Market Hypothesis.
Author: Richard O. Michaud
Publication: Heard on the Random Walk, Bache, NYC, June 1979 - Market Inefficiency and Asset Pricing Theory: Recent Trends III
Dr. Michaud discusses two papers which test the Efficient Market Hypothesis.
Author: Richard O. Michaud
Publication: Heard on the Random Walk, Bache, NYC, July 1979