Five More Questions: Value Investing with Tobias Carlisle

This is Part II of my interview with Tobias Carlisle of the Acquirer’s funds, which just released its first ETF, the Acquirer’s ETF (ZIG) earlier this year. In Part I, we talked about some of the arguments against value investing and how they can be refuted. You can read that here. In Part II, we talk more about the intricacies of building a value portfolio. As a reminder, this interview was taken from a phone… Read More

Five Questions: Defending Value Investing with Tobias Carlisle

As those who read my articles know, I am a big believer in value investing. But I also understand that as a follower of value, I am prone to focusing on information that supports that belief. A while back, I tried to combat my own confirmation bias by writing an article that looked at the arguments against value investing. That article ended up being the most read article of all time on our blog. So… Read More

Five Questions: Investing in Human Freedom with Perth Tolle

The primary focus of most investors is generating returns. And that certainly makes sense given that we all have future goals we are trying to attain, and our portfolios are the major tool we have to achieve them. In recent years, however, there has been another goal that has been rising in importance. Many investors now also want to use their portfolios to express their values. They want to use them to help produce positive… Read More

Some Lessons For My Former Investing Self

By Jack Forehand (@practicalquant) One of the most dangerous games we all can play in investing is the game of looking back and thinking about what we should have done. Hindsight bias leads us to believe that we should have known all sorts of things that there was no way to know at the time, and that leads to conclusions that would have been very difficult to draw with the information that was available then.… Read More

Trying to Put the Struggles of Value Investing in Context

By Jack Forehand, CFA (@practicalquant) — Value stocks have struggled for a long time now. Although the degree of underperformance can vary significantly based on the metric you use and the universe you apply it to, there is no question that the past decade has been a bad one for value investing. And the past five years have been even worse. I have always been a big believer in value, but it is only natural… Read More

Five More Questions: Factor Investing with Jim O’Shaughnessy

By Jack Forehand, CFA (@practicalquant) This is Part II of my interview with Jim O’Shaughnessy. If you missed Part I, you can find it here. In part II, we talk about trend following, the future for simple value investing, and we take in in depth look at some of the arguments others have made in favor of the death of value investing. Just a note before we begin. This interview was transcribed from a phone… Read More

When the Best Investors Disagree

By Jack Forehand (@practicalquant) — Within the past year, I have been fortunate to interview some of the smartest minds that I know in investing for our Five Questions series. I was able to talk to Alpha Architect founder Wes Gray about quantitative value investing. I talked Daniel Crosby about behavior in investing. I spoke to Ben Hunt about how things have changed in the market and why we may not be able to rely… Read More

Five Questions: Factor Investing with Jim O’Shaughnessy

By Jack Forehand (@practicalquant) Factor investing has grown dramatically in recent years. But it is far from new. As those of us who invest using factors seek to learn more about them and the best way to utilize them in our portfolios, there is no better place to turn than those who have been there since the beginning. For this week’s interview, I have the privilege of talking to Jim O’Shaughnessy. Jim was a factor… Read More

Five Questions: The Importance of Narratives with Ben Hunt

By Jack Forehand (@practicalquant) One of the most important things any investor can do is to challenge their own beliefs. Confirmation bias leads all of us to seek out opinions that agree with us and then use them to confirm what we already think to be true.  That can be very dangerous, though, because you can end up missing obvious truths that are right in front of your eyes. Those who read my articles will… Read More

The Mechanics of Value Investing

By Jack Forehand (@practicalquant) — We all have a tendency to want to put investing strategies into groups. That can sometimes be misleading, though. There are more investment products than I can count that use the word value in their name. But beneath the surface, many of those products couldn’t be any more different. Those differences can lead to substantially different outcomes in both the long- and short-term, so it is very important to understand… Read More