…investors should instead look for warning signs or “factors that signify it is late in the cycle and one should be pursuing a more defensive investing course”. He cites a…
Search Results for: factor
Is Warren Buffett the Greatest Factor Investor?
…on.” Based on a “factor exposure analysis” of Berkshire through a regression analysis of betas relative to common equity factors, the article said “a clear picture emerges: [Berkshire] had positive…
What Quant Value Models Can and Can't Do for You
…type of value factor, book-to-market, which is the leading factor tested in academic studies. He’s right to focus on this since when people say “value has outperformed over the long…
Trying to Put the Struggles of Value Investing in Context
…This chart from Larry Swedroe illustrates this concept. It looks the percentage of time that each factor underperforms over various periods. https://www.advisorperspectives.com/articles/2018/11/05/what-to-do-when-an-investment-strategy-performs-poorly As the chart shows, the value factor has…
Research Affiliates: Optimal Factor Investing Approach Includes Momentum
A new paper published by two executives at Research Affiliates says that the best-performing multi-factor portfolios include the momentum factor. This according to an article in Institutional Investor. The article…
Differences in Value
…the value premium, Larry Swedroe’s article, Deep Dive into the Value Factor, is a great place to start. Value stocks, and more specifically concentrated value portfolios, will have significant deviations…
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…
Validea’s Justin Carbonneau on the Acquirer’s Multiple Podcast
…Pabrai; Buffett’s incredible long-term returns; Tax management strategies and quantitative investing; Trying to avoid value traps; The importance of investing discipline and conviction; Factor timing; And lots more https://www.youtube.com/watch?v=93ZZx44J4So If…
Five More Questions: Factor Investing with Jim O’Shaughnessy
…and say, okay, what are the factors you’re using? What’s the evidence for those factors? What’s the win rate versus the loss rate? So I guess it’s a little more…
When the Best Investors Disagree
…conclusions. Let me give you an example from some of the interviews I have done. There is significant debate among factor investors about which factor to use. Some have a…