…has leveled the playing field in that regard. But that means the other piece — luck — becomes a greater factor in the difference between the performance of investors, he…
Search Results for: factor
Fisher On A Bullish Political Factor
While 2014 has been a mediocre year for stocks, Kenneth Fisher says he expects things to heat up later in the year thanks in part to the Presidential Election Cycle….
The Real Solution To The Fed's Bubble-Making Problem
While most strategists talk about risk as a static factor, emerging research indicates that people’s penchant for risk-taking is quite changeable from moment to moment — and that may have…
Blending Growth And Value With The O'Shaughnessy Approach
…value stock attractive for O’Shaughnessy, however. Another key factor that was a great predictor of a stock’s future, he found, was cash flow. My O’Shaughnessy-based value model calls for companies…
AQR Takes On "Momentum Myths"
…somewhat worse for stand-alone momentum than the other factors discussed here,” they say. “Spring 2009 was one of those times. But, while more extreme, this isn’t unlike other factors. There…
Why Investors Underperform Their Own Funds, And The Market
…7.4 percentage points annually over the past 30 years. Part of that is due to fees and expenses, “But the biggest factor is that investors chase returns — jumping aboard…
Lo On Buying Low
…Lo also talks about why he thinks buy and hold is an incomplete strategy. He says the approach doesn’t take into account the human factor — that it’s not reasonable…
Fama, French, Buffett & Value
…about value stocks on its head. In a working paper, French and Fama found that value is a “redundant factor” in terms of accounting for stock returns when profitability and…
Defending Buffett, Part I ...
…more speculative environments typical of early bull markets. Another big factor that makes it difficult for Berkshire to produce the giant returns it used to: Berkshire’s size. Because the firm…
Ritholtz Gets Counterfactual About QE
…— the scenario of how events would have played out had one factor (in this case, QE) been different. “In the absence of a functional Congress or an adequate post-recession…