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Factors from Scratch (EP.06)
A look back, and forward, at how, when, and why factors work
|Sep 20, 2018|
Negative Equity, Veiled Value, and the Erosion of Price-to-Book (EP.05)
The price-to-book ratio has a problem. Accounting distortions are causing record numbers of U.S. companies to report negative book value and more and more cheap companies to be defined as expensive growth companies (Veiled Value Stocks). Join us on this “What Works on Wall Street” podcast to learn more.
|May 08, 2018|
A Returns-Based Approach for Allocating U.S. Microcap into Equities Portfolios (EP.04)
“Traditional” asset allocation favors capacity-based frameworks that are overly-reliant on flawed market cap-weighted indexes. Also, that approach fails to make adjustments for investor risk tolerance or plan size. Investors who use a returns-based approach instead — adding Micro and Small Cap into the equities mix — can expect to see stronger returns and lower volatility. Join us on this “What Works on Wall Street” podcast to learn more...
|Dec 01, 2017|
Finding the Factor Alpha in REITs (EP.03)
According to our research, the efficacy of factor signals in real estate investing has largely been upstaged by the factor revolution in the equities market. In fact, the public real estate market is uniquely inefficient and a fertile ground for active, factor-based investing…
|Oct 10, 2017|
Microcaps’ Factor Spreads, Structural Biases, and the Institutional Imperative (EP.02)
Many investors readily agree that alpha is scarce. It is hard to find, always in great demand, and requires skill to extract. The eclectic microcap universe provides a disparate group of continually evolving and devolving businesses with structural features that remain persistently attractive for investors. Join us on this “What Works on Wall Street” podcast to learn more…
|Aug 09, 2017|
Factor Crowding, Cobras, and Other Market Hyperboles (EP.01)
After reading as many as 18 different WSJ articles on the subject, it’s understandable why investors might be up in arms about the alleged perils of factor crowding. We hope this discussion allays some of those concerns. Join us on this “What Works on Wall Street” podcast to learn more…
|Jul 25, 2017|