Factor Investing Update: An Analysis of 2019 U.S. Factor Returns
In case you missed it, 2019 was a good year to be an equity investor. Examining market-cap-weighted indices, the U.S. stock market was up ~ [...]
About Jack Vogel, PhD
Jack Vogel, Ph.D., conducts research in empirical asset pricing and behavioral finance, and is a co-author of DIY FINANCIAL ADVISOR: A Simple Solution to Build and Protect Your Wealth. His dissertation investigates how behavioral biases affect the value anomaly. His academic background includes experience as an instructor and research assistant at Drexel University in both the Finance and Mathematics departments, as well as a Finance instructor at Villanova University. Dr. Vogel is currently a Managing Member of Alpha Architect, LLC, an SEC-Registered Investment Advisor, where he heads the research department and serves as the Chief Financial Officer. He has a PhD in Finance and a MS in Mathematics from Drexel University, and graduated summa cum laude with a BS in Mathematics and Education from The University of Scranton.Compound Your Knowledge Ep 21: Christmas Special
In today's episode, we had Wes join the show and decided to have Wes and myself answer questions from Ryan on two research summaries we [...]
The Investor’s Podcast: Factor Investing (Jack)
Recently I was invited to talk with Stig and Preston on The Investor's Podcast. I thank them for the opportunity and enjoyed the conversation! Below [...]
System Trader Podcast (Jack Vogel)
Here is a link to the podcast on Jacek Lampert's System Trader Show. On the podcast, we discuss a few topics (among others): Market Anomalies [...]
Core Earnings: New Data and Evidence
Researchers love novel datasets--it gives them a new set of information to conduct studies and test theories. That brings us to this paper, titled "Core [...]
Do Most Individual Stocks Outperform Cash? No.
I'd argue that a typical investor believes the following--In the past and over the long run, stocks outperformed bonds.[ref]and definitely beat cash![/ref] However, as highlighted [...]
Betting Against Beta (BAB) Construction
One of the more popular equity strategies over the past decade is low volatility investing. Simply put, this is a systematic strategy that invests in [...]
Compound Your Knowledge Ep 20: Collectibles and PMI (and Factors)
In this week's post, we discuss two articles. The first article examines the financial performance of collectibles, such as Cars, Wine, and Art. The second [...]
Compound Your Knowledge Ep 19: Value Concentration and Portfolio Protection
In this week's post, we discuss three articles. The first article examines the effect of concentration (i.e. how many stocks does one own) within a [...]
Compound Your Knowledge Ep 18: Size, Mom, Sell-Offs, & R Code
In this week's post, we discuss four articles. The size, written by the folks at AQR, is titled "Fact, Fiction, and the Size Effect" and [...]
Value Investing & Concentration
As many investors have experienced, Value investing has underperformed for some time now. For the period following the Global Financial Crisis, Value investing (in general) [...]
Compound Your Knowledge Ep. 17: Stock Buyback Myths
We hope everyone had a nice 4th of July weekend! In this week's post, we discuss one paper, titled "Buyback Derangement Syndrome." The paper was [...]
Compound Your Knowledge Ep. 16: Trend-Following, Large-Cap Value, Active Mgmt
In this week's post, we discuss three papers. The first post, written by Wes, covers a deep-dive into trend-following on equities. The second post, written [...]
Compound Your Knowledge Ep. 15: Factor Momentum, Value, & Equity Comp
In this week's post, I discuss three papers. The first paper, summarized by Tommi and written by Tarun Gupta and Bryan Kelly (AQR), examines the [...]
Compound Your Knowledge Ep. 14: Sentiment and Bonds, Volatility, & ESG
In this week's video, we examine four articles. The first article, written by Elisabetta, examines a trading strategy on bonds (duration) using news sentiment. The [...]
Compound Your Knowledge Ep. 13: Opp. Zone Investments, Hiring Losers, & Short Selling w/Insider Buying
In this week's video, we examine three articles. The first article, written by Adam Tkaczuk, covers a method to make an opportunity zone (equity) investment behave [...]
Compound Your Knowledge Ep. 12: Tax-Managed Strategies & Stocks Above 10x Sales
In this week's episode, we cover two articles. The first article, summarized by Tommi, examines the performance of tax-managed factor strategies. The second article examines [...]
Buying Stocks Trading Above 10x Sales–A Good Idea?
Early last week, Meb Faber included me on a conversation on buying stocks trading at 10x their company's revenue (sales). Is this a good idea [...]
Compound Your Knowledge Ep. 11: ETFs, Manager Wealth, TLH, Value
In this week's episode, we cover four articles published on our site. The first article, written by Ryan, examines the growth in assets of ETFs [...]
Compound Your Knowledge Episode 10: Factor Investing & Hedge Fund Performance
In this week's video, we discuss three posts. The first post discusses the new index analysis section on our site. The second post, written by [...]