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Investment Papers

Experience has taught us that markets evolve, theories get refined, and there are always new insights to be gained.

To that end, we are using this space to share some of the papers we've produced. We invite your feedback.

IronBridge Quarterly Insights

Published: April 2017
Christopher C. Faber, President
A commentary reviewing the previous quarter’s market activity and providing our outlook on the market in quarter and months ahead. Published quarterly.

The Hidden Risks of Passive Investing

Published: September 2012
Samuel T. Eddins, Director of Research
Christopher C. Faber, President
Jeffrey B. Madden, Portfolio Manager
Ben Niu, Ph.D., Advanced Financial Modeling Analyst
The foundation on which the conventional arguments in support of passive investing rests is out of sync with current real-world applications of passive investing. The Hidden Risks of Passive Investing yields startlingly different conclusions about the safety and efficacy of passive investment strategies.

Tax Arbitrage Feedback Theory

Published: August 2009
Samuel T. Eddins, Director of Research
The Tax Arbitrage Feedback Theory is a new angle for understanding the global credit crisis of 2008 - 2009, based on control theory principles and the axiom that investors seek the highest expected after-tax return. This paper is also available at www.ssrn.com.

Tyranny of Benchmarks

Published: August 2006
Samuel T. Eddins, Director of Research
An explanation of the events leading up to the June 2006 rebalancing of the Russell 2000, and the rapid swing in the index during the final five minutes of trading.

A Tale of a Big Bad Bear Market

Published: October 2016
Christopher C. Faber, President
A cautionary tale to consider should we head into a Big, Bad, Bear Market again.