Journal of Index Investing最新文献_第2页

The Slapstick Routine of Parisian Monumentalism: Robert Desnos and Jacques-André Boiffard’s “Pygmalion and the Sphinx” (1930) 巴黎纪念主义的闹剧:罗伯特·德斯诺和雅克·安德烈·博伊法德的《皮格马利翁与狮身人面像》(1930)

Journal of Index Investing Pub Date : 2021-11-01 DOI: 10.38030/index-journal.2021.3.5

Ursula de Leeuw

{"title":"The Slapstick Routine of Parisian Monumentalism: Robert Desnos and Jacques-André Boiffard’s “Pygmalion and the Sphinx” (1930)","authors":"Ursula de Leeuw","doi":"10.38030/index-journal.2021.3.5","DOIUrl":"https://doi.org/10.38030/index-journal.2021.3.5","url":null,"abstract":"This essay considers the 1930 essay “Pygmalion and the Sphinx” by Robert Desnos, originally published alongside Jacques André-Boiffard’s photographs of Parisian monuments in the journal Documents. I focus on Desnos and Boiffard’s tragicomic depiction of the municipal council of Paris’ failure to reconcile a fragmented sense of national identity through the erection of public monuments. As implicated by its title, “Pygmalion and the Sphinx” compares the “statuemania” of the Third Republic to the Greek myth. As Desnos and Boiffard reveal, within the monumental form is an antagonism between the civic ideal of ‘Pygmalion’ and the brute substance of the statue’s material, or the Sphinx. This tension inevitably collapses the idealist endeavour of monumentalism; a moment of folly opened by the laughter it evokes. Boiffard focuses the pedestal of the monument, and the rigidity of its material when exposed against the urban landscape. These photographs launch a base materialist perspective repeated by Desnos in his comic imagination. This term is further contextualised by the writings of Georges Bataille in Documents, whereby laughter is integral to the critique of idealism. In this essay, I read Desnos and Boiffard alongside Bataille to illuminate how monumentalism prepares its toppling in the ‘fall’ of the slapstick’s laugh.","PeriodicalId":36431,"journal":{"name":"Journal of Index Investing","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88656676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Towards Transformative Propaganda: A History of Student Activism at the Australian National University 走向变革的宣传:澳大利亚国立大学学生运动的历史

Journal of Index Investing Pub Date : 2021-11-01 DOI: 10.38030/index-journal.2021.1.5

I. Glišić

引用次数: 0

Deception and Reception in the Commemorative Landscape of Newcastle, Australia, 1970 to 2020 1970年至2020年，澳大利亚纽卡斯尔纪念景观中的欺骗与接受

Journal of Index Investing Pub Date : 2021-11-01 DOI: 10.38030/index-journal.2021.3.1

Nikolas Orr

{"title":"Deception and Reception in the Commemorative Landscape of Newcastle, Australia, 1970 to 2020","authors":"Nikolas Orr","doi":"10.38030/index-journal.2021.3.1","DOIUrl":"https://doi.org/10.38030/index-journal.2021.3.1","url":null,"abstract":"Contemporary reception of colonial monuments in Australia is informed by global debate on race, memory and representation in public space, typified in the decolonial and anti-racist movements Rhodes Must Fall and Black Lives Matter. While art historians and anti-colonial iconoclasts alike easily conceive of statues as objects for critique, non-figurative sculpture is no less effective when deployed as an ideological tool. Given the typically progressive politics of twentieth-century abstractionists, this study asks how comfortable these artists are with the nation-building function often ascribed to their work by political elites. Through a thematic survey of the commemorative landscape of Newcastle, NSW, this article describes a city punctuated by patriotic references to war, colonialism, and Indigenous absence, exemplified in modernist sculptor Margel Hinder’s (1906–1995) *Civic Park Fountain* (1966). Recounting its relaunch in 1970 as a memorial to Captain James Cook and its vandalism in 2020, the article examines changes in public reception of the fountain, from hostility towards abstract art and government spending to outrage at colonial symbols. Archival reconstruction of Hinder’s responses to local government demonstrates her silence on the fountain’s assimilation to colonial celebration. When contrasted with Hinder’s activities as a lobbyist and camouflage designer, this finding reveals a complex political biography. Without ignoring Hinder’s concern for Aboriginal rights, her attitude towards the instrumentalisation of her work is at best ambivalent. Beyond challenging the apolitical readings of Hinder’s work in existing scholarship, this study provides a key example of the ideological malleability of abstract public art. By producing “empty” signifiers to then “fill” with meaning, abstract sculptors and administrators together help to shape the semiotic and racial topography of urban space.","PeriodicalId":36431,"journal":{"name":"Journal of Index Investing","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83961118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Betting against Quant: Examining the Factor Exposures of Thematic Indexes 做空量化:检视主题性指数的因子暴露

Journal of Index Investing Pub Date : 2021-10-30 DOI: 10.3905/jii.2021.1.111

David Blitz

引用次数: 1

Factor Model Index for Commodity Investment 商品投资的因子模型指数

Journal of Index Investing Pub Date : 2021-10-26 DOI: 10.3905/jii.2021.1.110

Daniel Broby, A. McKenzie, Olivier Bauthéac

引用次数: 0

Editor’s Letter 编辑的信

Journal of Index Investing Pub Date : 2021-08-31 DOI: 10.3905/jii.2021.12.2.001

Brian R. Bruce

引用次数: 0

Are All Capture Ratios Created Equal? 所有捕获比率是否相等?

Journal of Index Investing Pub Date : 2021-07-26 DOI: 10.3905/jii.2021.1.109

Jeffrey M. Coy, E. Robbins

引用次数: 0

The Error of Tracking Error: Why Active Indexing Makes Sense 跟踪错误的错误：为什么主动索引有意义

Journal of Index Investing Pub Date : 2021-06-29 DOI: 10.3905/jii.2021.1.108

D. Du, Curt Overway

{"title":"The Error of Tracking Error: Why Active Indexing Makes Sense","authors":"D. Du, Curt Overway","doi":"10.3905/jii.2021.1.108","DOIUrl":"https://doi.org/10.3905/jii.2021.1.108","url":null,"abstract":"Direct indexing is an excellent tool for improving after-tax returns for taxable clients. However, the predominant approach to doing this, where tracking error is minimized and any possible tax benefit is constrained, may be sub-optimal. Focusing too much on tracking error can lead to missed opportunities to add after-tax value. The best outcome for clients is to maximize their after-tax return/wealth, which may require taking on higher levels of tracking error. Based on 20 years of simulated portfolios, the authors found that higher active risk can potentially provide more tax alpha without sacrificing pre-tax performance, and that it is most beneficial in years with large drawdowns and during the earliest years after inception. When investors choose direct indexing providers, it is important to take a holistic view of their risk tolerance and investment horizon, and of the providers’ investment process—particularly how loss harvesting is implemented, how risk is managed, and how the strategy performs during large drawdowns. TOPICS: Mutual funds/passive investing/indexing, wealth management, portfolio construction, performance measurement Key Findings ▪ Systematic tax loss harvesting contributes significantly to clients’ after-tax wealth without compromising pre-tax performance. Tax alpha is often highest during the early years after inception, stabilizes as portfolios mature, and persists over an extended period of time. ▪ Higher active risk provides more opportunities to harvest losses. The value-add is usually greatest in years with large drawdowns and at the earliest stage of portfolios, when higher active risk is permitted. ▪ Tax managed portfolios tend to tilt positively to momentum and growth factors, and negatively to size, value, and dividend yield factors. The magnitude of active factor exposure is modest, however, and often not of real concern.","PeriodicalId":36431,"journal":{"name":"Journal of Index Investing","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42259652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

“An Index Isn’t a Fiduciary” and What That Means for Active Management “指数不是受托人”以及这对主动管理意味着什么

Journal of Index Investing Pub Date : 2021-03-20 DOI: 10.3905/JII.2021.1.102

A. Berger

{"title":"“An Index Isn’t a Fiduciary” and What That Means for Active Management","authors":"A. Berger","doi":"10.3905/JII.2021.1.102","DOIUrl":"https://doi.org/10.3905/JII.2021.1.102","url":null,"abstract":"Before the arrival of passive investment vehicles, the role of an active manager was to provide an investor with access to a particular market and, critically, to do so in a way that was aligned with the investor’s objectives. With the rise of passive management, the role of active management was narrowed to “beating a cap-weighted benchmark,” but this shift often took the investor’s goals out of the equation. I believe investors deciding between active and passive implementation should first consider whether a market-cap-weighted index is sufficiently aligned with their objectives or whether a manager, serving as a fiduciary, can construct a portfolio that—after costs—will be better aligned. I also challenge the zero-sum argument that trying to beat a cap-weighted benchmark after fees is futile. My view—that this argument wrongly assumes that all investors have similar preferences—is borne out by deviations between the asset allocations held by institutional investors and the global market-cap-weighted portfolio. TOPICS: Mutual funds/passive investing/indexing, portfolio construction, global markets, performance measurement Key Findings ▪ In distinguishing between active and passive implementation, investors should first acknowledge that any approach that is not market-cap-weighted and intended to capture the breadth of a given market is inherently active, even if offered in an index form. ▪ Market-cap-weighted indexes offer investors several important advantages, but there are many instances in which they may not be structured to achieve the objectives investors seek to achieve. ▪ There is some logic to the notion that for every investor who outperforms a cap-weighted benchmark, another investor must underperform it. Even those who acknowledge this zero-sum argument, however, can still reasonably choose to deviate from these benchmarks to create a portfolio that is better aligned with their objectives.","PeriodicalId":36431,"journal":{"name":"Journal of Index Investing","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41339501","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digging for Honey Ants: revisiting the Papunya mural project 挖掘蜜蚁:重新审视帕潘亚壁画项目

Journal of Index Investing Pub Date : 2021-01-01 DOI: 10.38030/index-journal.2021.3.2

J. Kean

引用次数: 1