Are You Underweight FANMAG? Chillax!
Key Points Michael Mauboussin: The Incredible Shrinking Universe of Stocks Kenneth Griffin: Investment Strategy, Hedge Funds and Government Life After … Read more
Research Affiliates
CAPE Fatigue
Key Points The one-factor CAPE model better predicted market returns than a simple yield-plus-growth model in five straight decades, before … Read more
Research Affiliates On Equity Returns By Political Party – An International Look
Key Points An increasing body of research shows that previously documented relationships in the investment literature are the result of … Read more
Public Policy, Profits, And Populism
Key Points The recent decades-long public policy focus on economic stability has resulted in the unintended consequences of a profits … Read more
Why Factor Tilts Are Not Smart “Smart Beta”
Key Points Not all features of smart beta strategies that add value for investors can be replicated with simple factor … Read more
Indian Economy: outlook and challenges
Dr Arvind Subramaniam ,chief economic advisor to the govt of India, provided his assesment of the Indian economy three years … Read more
The Incredible Shrinking Factor Return (Unabridged)
Key Points We find slippage between the factor returns realized by mutual fund managers and the theoretical factor returns “earned” … Read more
Quest For The Holy Grail: The Fair Value Of The Equity Market
Key Points Macroeconomic volatility is a useful tool in investors’ quest for the fair value of the stock market. This … Read more
Forecasting Factor And Smart Beta Returns (Hint: History Is Worse Than Useless)
Past is NOT prologue. With the proliferation of smart beta and factor strategies, investors should be vigilant to the pitfalls … Read more
Uncomfortably Stuck Between Past And Future: Rates, Credit, And Alternative Bond Indices
Key Points Strategies that emphasize the bonds of countries with strong debt-servicing economic resources, rather than the bonds of countries … Read more
Improving On Traditional Commodity Indices
Key Points Commodities provide inflation protection and valuable diversification benefits to traditional core stock and bond portfolios, but adoption has … Read more
The Emerging Markets Hat Trick: Time To Throw Your Hat In?
Key Points: Long-term investors have a unique investing opportunity in emerging market assets given the very rare combination of cheap … Read more
Record Low Costs To Trade!
Key Points Trading costs for US equities are at their lowest levels since 1960. Historical experience shows trading costs can … Read more
Take The 5% Real Return Challenge! (Or The “Lloyd Christmas” Lesson)
Key Points Portfolios dominated by mainstream asset classes have a very low probability of earning a 5% annualized real return … Read more
Timing “Smart Beta” Strategies? Of Course! Buy Low, Sell High!
Timing “Smart Beta” Strategies? Of Course! Buy Low, Sell High! by Rob Arnott, Noah Beck & Vitali Kalesnik – Research … Read more