The Rational Reminder Podcast: Episode 278: Juhani Linnainmaa: Financial Advisors, and the Cross-Section of Returns (opens in new tab)

If you dive deep into financial advisor fixed effects, you'll begin to understand that an advisor's own portfolio has a bigger impact on the portfolios of their clients than the characteristics of the clients themselves. To help us make sense of this and to further explain financial values and the cross-section of returns, we are joined by the influential and notorious Professor of Finance, Juhani Linnainmaa. Our conversation begins with a comprehensive analysis of financial values, including...