Paul Kedrosky in his always excellent Weekend Reading piece for points to a profile of David Swensen. Interesting to note that Yale’s allocation to real assets, real estate and commodities, is up in 2005.

Chucke Jaffe at weighs in on the mutual fund vs. separately managed account debate. Jaffe finds some claims by supporters of SMAs unsupportable.

Mark Hulbert in the New York Times highlights some academic research which shows the effects aging has on individual investors’ investment decision making. The results are interesting in that they show conflicting effects. On one hand older investors seem to have learned some important points about portfolio management, however they are less able to profitably pick stocks.

Norm Alster in the New York Times finds some equity funds able to outperform the market despite being weighed down by large asset bases. That is all well and good, and may demonstrate skill on the part of the managers. However if the take away for investors is that assets under management doesn’t matter, then this article does readers a disservice.

A new sports-related Michael Lewis piece in the New York Times magazine is always worth a link. However, the Freakonomics guys have a minor quibble.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.