The wildest IPO market since 1999

Here are three of the week’s top pieces of financial insight, gathered from around the web:

‘Low volatility’ bets backfire
“An investment strategy for reducing risk in the long run” has largely failed in the pandemic, said Jason Zweig at The Wall Street Journal. So-called low-volatility funds were supposed to invest in stocks that fluctuated less than the broader market, limiting losses. Investors put $36.5 billion in these funds, convinced by marketing that showed the strategy would have worked well in past downturns. But some of the funds “lost at least as much as the market in February and March, but later lagged far behind when stocks shot up.”


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