Persistence Results, But Not Really

Even though most people in the investment world are consistently told that past performance is not indicative of future results, some claims regarding performance of private equity firms can be misleading, according to a recent CFA Institute article. It says, “humans are hardwired to anchor on repetition, and Nobel Prizes have been won for studies of what are called availability and frequency biases. We tend to be swayed by what we are told over and… Read More

Want Consistent Market Outperformance? You May Want to Think Again

By Justin J. Carbonneau (@jjcarbonneau) —  We run over 40 quantitative models at Validea. They run the gamut of investing styles. Any time we can find a model from a respected source that uses factors and shows long-term outperformance, we will track it and add it to our arsenal. Our models range from deep value to growth to momentum. As we have studied these models over the years, one commonality has become very clear. And… Read More