…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…
Search Results for: factor
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…
Don't Forget The Crisis
…about what that bear market meant, how it affected their behavior then and how it ought to factor into their thinking now,” they write. One key lesson: Beware “expert” opinions,…
Hot List: The 2014 Outlook
…Kenneth Fisher, whose writings form the basis of one of my best performing Guru Strategies, has talked about the “fear of false factors”, saying that he takes it as a…
Nygren Talks Value, Opportunity, And The End Of QE
…that the exact timing of the tapering of the Federal Reserve’s bond-buying program “ends up not really being an important factor,” adding, “We certainly think the markets can handle it.”…
OSAM on the Efficient Market Myth
…passive indexing approaches have a key weakness: “The stock selection and weighting criteria for the index are based on one factor: market cap.” O’Shaughnessy talks about “proven factors” that OSAM…