Although the word unprecedented tends to be overused, we are seeing many things in the market currently that many of us haven’t seen before. Fiscal stimulus has increased to levels…
Tag: Research Affiliates
No Value Explanation for ‘Exorbitantly Priced’ Tech Stocks, Says Research Affiliates
A new study by Research Affiliates shows that even some growth stocks are too expensive even after including intangible assets. This according to a recent article in Institutional Investor. “Mega-cap…
The Value Investing Strategy in Recessions and Recoveries
A recent paper by Research Affiliates highlights parallels among six bear markets in the U.S. that were accompanied by recessions to “improve our understanding of their unique risks and opportunities.”…
Research Affiliates Analysis Shows Weak Factors
A recent paper based on analysis by Research Affiliates shows that once research data is analyzed outside the original sample period, about half the factors were “not robust,” according to…
Research Affiliates Says Spread Factor Bets
At the 30th annual Morningstar Investor Conference held last month, passive strategist Adam McCullough interviewed Feifei Lee, director and global head of Research Affiliates Investment Management Group about her firm’s…
Research Affiliates on the Dangers of Using Past Returns to Predict the Future
In the first of an eight-part series, Research Affiliates addresses market returns and the dangers financial planners face with respect to setting expectations for clients. Specifically, the article highlights the…
Morningstar Survey Results for Long-Term Stock and Bond Returns
A recent Morningstar article outlined the intermediate-term (10-year) market return assumptions of a group of industry leaders that responded to a recent survey: John Bogle, founder of Vanguard: 4% stock…
Value Indexing: Don’t Chase Performance
In a recent interview conducted by Alex Bryan of Morningstar, Research Affiliates’ John West, head of client strategies, discussed a different approach to value investing in which holdings are weighted…
Returns Look Low Going Forward
“In an industry dominated by promises of higher return investors need to ask higher than what?” This question is posed in a recent Barron’s article (provided by Research Affiliates) which…
Is Value Investing Getting Short-Changed?
A report published last month by investment management firm Research Affiliates, LLC addresses the question of why value investing (a smart-beta strategy using value indicators such as CAPE or price-earnings…