June 17, 2015
Investment Strategy Research: Statistics
Tom Cowhey, Hirtle Callaghan's Chief Strategist, often publishes reasearch relevant to current market trends and issues. His most recent research discusses how in the near term, macro factors are once again dominating the investment markets and psyche. In environments like these, it is easy to draw all sorts of conclusions from graphical and analytical interpretation of data. It is also just as easy to be misled, intentionally/unintentionally, by poorly specified or spurious relationships in the data.
At Hirtle Callaghan, we feel that valuation is a better tool for assessing the future return potential of an investment because current prices incorporate all that is "known" about the relationship between an investment and other variables.
Read Tom Cowhey's complete research article here.
Thomas J. Cowhey, Chief Investment Strategist, CFA
Tom is the Chief Investment Strategist at Hirtle, Callaghan. Prior to joining Hirtle Callaghan, Tom was the Executive Director-Trust Asset Management for Bell Atlantic's $15 Billion Employee Benefit Plans. Tom received his B.S. in Civil Engineering, 1978, and M.B.A., 1985, from Villanova University. He is a CFA charterholder, a member of the CFA Institute, and a Registered Professional Engineer. Tom is the firm's Chief Portfolio Strategist and chairs the Investment Policy Committee.