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Mutual Fund Performance at Long Horizons

Harvard Corporate Governance

Most research that considers investor outcomes reports on unconditional or conditional (as in “alpha” estimates) arithmetic means of returns that are measured over relatively short horizons, most often monthly. equity mutual funds at the monthly, annual, decade, and full-sample horizons. Treasury Bills at the full-sample horizon.

Alpha 219
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Reneo Pharmaceuticals Announces Stockholder Approval of Merger with OnKure

Benzinga

The combined company will focus on advancing OnKure's pipeline candidates targeting oncogenic mutations in phosphoinositide 3-kinase alpha (PI3Kα), including its lead program OKI-219, which is currently in a Phase 1 clinical trial for the treatment of solid tumors.

Alpha 40
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Data Update 1 for 2025: The Draw (and Danger) of Data

Musings on Markets

Thus, as you peruse my historical data on implied equity risk premiums or PE ratios for the S&P 500 over time, you may be tempted to compute averages and use them in your investment strategies, or use my industry averages for debt ratios and pricing multiples as the target for every company in the peer group, but you should hold back.