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They call the paper the “Old Gray Lady,” and its obituary could have been written sometime ago. But it has managed to survive and to remake itself.

An ETF serves as a good example to explore expected returns, benchmarks, reporting requirements, and the special attraction of “yield.”

Funds versus central banks? Due diligence? All-star analysts? Venus and Mars? All of that, plus pension systems, crypto prime brokerage, RIA rollups, and a paper trail to follow.

This leading asset management organization demonstrates the power of the business model — and the challenges inherent in pursuing future avenues of growth.

Manager selection practices must be designed to navigate one big problem that never goes away. Here are a couple of examples of how it manifests itself.

Segmentation, aggregation, migration, popularity, order, and disorder are constantly at work, altering opportunities and risks in the prices of assets and the fortunes of market players.

Eye-popping compensation accrued to a manager as a result of a period of good (if not eye-popping) performance, once again illuminating a structural oddity in the market for investment management.

The chief investment officer of the hedge fund firm Marshall Wace provides his “perspectives on fund management,” which serve as a template for the examination of investment beliefs and implementation practices.

This first edition of the Fortnightly fits the mold of others to come. There will always be links to good readings from around the ecosystem — to highlight things you may have missed and to foster ideas that illuminate possibilities in your work.

Across the spectrum of asset owners, organizations differ dramatically in their approach to innovation. Finding where you are and deciding where you want to be can start with a simple step.

“Smart beta” was all the rage a few years ago, but many factor strategies have struggled since then. Here’s a look at the returns on size, value, beta, momentum, and quality.

A recent paper offers an “industrial tactical asset allocation process,” prompting a quick review of the methodology and some observations about balancing theory, practice, customization, and industrialization.

“Fake it till you make it,” they say, but fostering promotional conduct rather than an open examination of the issues at hand is a significant problem in many investment interactions.

In the spirit of Letters to a Young Analyst, this posting includes links to items on investment education, analysis, and careers — as well as a sad farewell to a noted industry professional.

Due diligence involves cracking the narratives developed by asset managers, return expectations among them. Here are some notable disconnects that can result, as well as a simple strategy to deconstruct those expectations.