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The Art (and Science) of Index Construction

Vanguard Blog for Institutional Investors

CRSP COO Dave Barclay weighs in on what makes a great index index on the Vanguard Blog for Institutional Investors.

The Best Investment Since 1926? Apple

The New York Times

Only 4 percent of all publicly traded stocks account for all of the net wealth earned by investors in the stock market since 1926.

Why the Dow Isn't the Stock Market

The New York Times

For the purpose of measuring the entire United States market, including small stocks, many academics and professional investors prefer another market-weighted index: the CRSP U.S.

Is it Time to Return to Active Stock-Picking?

Barron's

The market is facing other pressures, too. As stock-picking has declined in recent years, so has the number of stocks.

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Insights

Latest Chicago Booth Review Features CRSP Board Members

Chicago Booth Review

The Chicago Booth Review recently spoke with CRSP Board member Douglas Diamond regarding lessons learned from the 2007-10 financial crisis and whether or not the ensuing regulation has made our economy less vulnerable to another crisis. In the “Footnotes” section of the magazine, CRSP Board Chairman Eugene Fama weighs in on market efficiency, active management, and corporate governance among other topics, and explains why investors shouldn’t buy hedge funds.

Gender in the Global Research Landscape

For this report, Elsevier drew on its expertise in mining the Scopus abstract and citation database of peer-reviewed literature to comprehensively evaluate two gender-based aspects of the global research enterprise: (1) the landscape of global researchers—their publication productivity, imp

The Investment Company Fact Book 57th Edition

This ICI publication continues to provide the public and policymakers with a comprehensive summary of ICI’s data and analysis.

Think Global to Avoid Shrinking U.S. Stock Market

Bloomberg View

Research from Dimson, Marsh and Staunton in their Global Investment Returns Yearbook 2017 show just how dominant the U.S.

Books Citing CRSP Data

CRSP data is cited by a number of leading scholarly text books. This aggregator helps locate relevant publications for teaching and research. 

News

Financial Market Data Spending Hits $27b in 2016, Driven by Americas, Asia

According to a report published by Burton-Taylor International Consulting, part of TP ICAP group, 2016 saw an increase of 3.45 percent in global spending of financial information, ultimately reaching a figure of $27.48 billion during the year. 

The Dying Business of Picking Stocks

Passive investing has become investors’ default, driving billions into funds that track indexes. It’s transforming Wall Street, corporate boardrooms and the life of the neighborhood broker.

Why Investors Need to Stop Distrusting Wall Street

Few people realize that since the bursting of the tech bubble from 2001-2003, the stock market has had positive total returns, as measured by the total market indexes of MSCI and CRSP, in every calendar year except 2008.  That record was intact again in 2015 as the CRSP total market index provided an admittedly minuscule, but still positive, return of 0.40%.  

Why Index Investing Wins

J.B. Heaton, Nick Polson and J.H. Witte recently authored a nice short paper—it’s all of four pages—entitled “Why Indexing Works.” In it, the authors developed a simple stock selection model to explain why active equity fund managers tend to underperform their benchmark index.

90 Years of asset returns in 30 Seconds

Since 1960, CRSP has curated the research-quality market data included in the US Stock Database, which begins in December 1925. With the help of our partners at Investments Illustrated, the nine decades of prices and returns are compressed into this unique graphical presentation. For more illustrations of investment risk and return, please visit our Investments Illustrated Charts resources page.