By |Published On: June 17th, 2013|Categories: Value Investing Research|

We post all reviews we come across on the web (let us know if we are missing any):
http://hlb.wax.mybluehost.me/reviews/

A recent review caught my attention:
http://alephblog.com/2013/06/15/book-review-quantitative-value/

The author of the review makes the following statement:

With all of that said, I have simple advice to the readers.  Follow the broad outlines of what the book teaches, but don’t follow it in detail.  It is good to own companies that are sound, cheap, and improving.

This claim comes after the following statement:

But here’s the problem.  Like the book What Works on Wall Street, Quantitative Value suffers from over-optimization.

I agree with the sentiment of the reviewer’s comments–simple is better and over-optimization is dangerous. However, I think we are very deliberate in how we address issues of over optimization. Plus, the author of the review is vague with the criticisms and provides no data or evidence supporting his claim.

Overall, a great review and some fair criticisms.

Have you found any reviews on the web for Quantitative Value?

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About the Author: Wesley Gray, PhD

Wesley Gray, PhD
After serving as a Captain in the United States Marine Corps, Dr. Gray earned an MBA and a PhD in finance from the University of Chicago where he studied under Nobel Prize Winner Eugene Fama. Next, Wes took an academic job in his wife’s hometown of Philadelphia and worked as a finance professor at Drexel University. Dr. Gray’s interest in bridging the research gap between academia and industry led him to found Alpha Architect, an asset management firm dedicated to an impact mission of empowering investors through education. He is a contributor to multiple industry publications and regularly speaks to professional investor groups across the country. Wes has published multiple academic papers and four books, including Embedded (Naval Institute Press, 2009), Quantitative Value (Wiley, 2012), DIY Financial Advisor (Wiley, 2015), and Quantitative Momentum (Wiley, 2016). Dr. Gray currently resides in Palmas Del Mar Puerto Rico with his wife and three children. He recently finished the Leadville 100 ultramarathon race and promises to make better life decisions in the future.

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For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Third party information may become outdated or otherwise superseded without notice.  Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency has approved, determined the accuracy, or confirmed the adequacy of this article.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Alpha Architect, its affiliates or its employees. Our full disclosures are available here. Definitions of common statistics used in our analysis are available here (towards the bottom).

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