Value Investing, Videos

Wesley Gray’s “Quantitative Momentum”

Wesley Gray, CEO at Alpha Architect, discusses his new book “Quantitative Momentum” and explains key factors when implementing a momentum-based investing approach.

Wesley Gray’s “Quantitative Momentum”

Wesley Gray
Image source: Video Screenshot

Transcript

You can listen to our interview with Wesley Gray by using the above media player or enjoy a full transcription of the interview below.

Nate Geraci: Let’s now welcome in Wes Gray, CEO and Chief Investment Officer at Alpha Architect and author of the book Quantitative Momentum: A Practitioner’s Guide to Building a Momentum-Based Stock Selection System. Wes is joining us via phone today from just outside Philadelphia. Wes, as always, great to have you on the program.

Wesley Gray: Hey, gentlemen, thanks for having me and happy holidays and Merry Christmas to everyone listening.

Nate Geraci: You too Wes, and you know for the average investor out there, let’s first start by explaining what momentum investing is. In your book you say, “The efficient market hypothesis suggests that past prices cannot predict future success, but there is a problem. Past prices do predict future expected performance, and this problem is generically labeled momentum.” Provide us some color on this. How should the average investor think about momentum investing?

Wesley Gray: You got it. Momentum is real simple. Buy winners, because winners keep on winning. That’s the bottom line. It’s really nothing more than that to be completely frank.

Nate Geraci: Wes, from an investor behavior standpoint, explain why momentum works.

Article by The ETF Store, read the full transcript here.

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