Research Insights

//Research Insights

Only Hedge Fund Winners in Tough Times Show Skill

By |2019-04-22T12:16:50-04:00April 22nd, 2019|Research Insights, Basilico and Johnsen, Academic Research Insight|

Only Winners in Tough Times Repeat: Hedge Fund Performance Persistence over Different Market Conditions Zheng Sun, Ashley W. Wang, and Lu Zheng Journal of Financial and Quantitative Analysis A version of this paper can be [...]

Compound Your Knowledge Episode 9: Investor Confidence & Issues with Factor Investing

By |2019-04-22T10:29:11-04:00April 22nd, 2019|Compound Your Knowledge, Research Insights, Factor Investing, Media, Behavioral Finance|

In this week's post, we discuss two posts. The first post, written by Elisabetta, examines a new method attempting to directly measure aggregate investor overconfidence. The second post, written by Larry Swedroe, examines issues that [...]

Factor Investing is Simple, But Not Easy (Video)

By |2019-04-18T10:45:04-04:00April 18th, 2019|Research Insights, Video Learning Series, Podcasts and Video, Media|

We are creating a series of long-form educational videos that present materials often covered in our white papers. The intent of these videos is make our content more accessible to visual learners. The video below [...]

The Factors that Plague Factor Investing

By |2019-04-17T09:01:58-04:00April 16th, 2019|Research Insights, Factor Investing|

For those interested in the literature on factor-based investing, a new paper by Robert Arnott, Campbell Harvey, Vitali Kalesnik and Juhani Linnainmaa, “Alice’s Adventures in Factorland: Three Blunders That Plague Factor Investing,” focuses on why, [...]

Compound Your Knowledge Episode 8: Cash Conversion Cycle, Uncertainty, and Distracted Investors

By |2019-04-15T15:19:29-04:00April 15th, 2019|Compound Your Knowledge, Research Insights, Factor Investing, Media|

In this week's post, I discuss three papers. The first examines a new factor, the Cash Conversion Cycle--while most are discounting factors in the new "Factor Zoo" world, this is definitely an interesting factor to [...]

Aggregate Investor Confidence in the Stock Market

By |2019-04-15T08:50:30-04:00April 15th, 2019|Basilico and Johnsen, Academic Research Insight, Behavioral Finance|

Aggregate Investor Confidence in the Stock Market Christoph Meier Journal of Behavioral Finance, 2018 A version of this paper can be found here Want to read our summaries of academic finance papers? Check out our Academic Research [...]

Investment Strategy in an Uncertain World

By |2019-04-02T08:28:43-04:00April 11th, 2019|Research Insights, Larry Swedroe, Academic Research Insight, Tactical Asset Allocation Research|

In 1921, University of Chicago Professor Frank Knight wrote the classic book “Risk, Uncertainty, and Profit.” An article from the Library of Economics and Liberty described Knight’s definitions of risk and uncertainty as follows: Risk [...]

A Remarkable New Factor: The Cash Conversion Cycle

By |2019-04-09T13:32:08-04:00April 9th, 2019|Research Insights, Factor Investing, Value Investing Research|

The Cash Conversion Cycle Spread Baolian WangJFE, forthcoming.A version of this paper can be found here.Old discussions here and here. h.t. M. Mauboussin What are the research questions? The barrier to entry into the factor zoo [...]

Compound Your Knowledge Episode 7: Momentum & Short Sellers

By |2019-04-08T12:16:29-04:00April 8th, 2019|Compound Your Knowledge, Research Insights, Media|

In today's video, we examine three articles from last week. The first article, written by Larry Swedroe, examines the Momentum of News. The second article, written by Wes, examines an out-of-sample test on Momentum by [...]

Distracted Institutional Investors

By |2019-04-02T08:33:58-04:00April 8th, 2019|Basilico and Johnsen, Academic Research Insight|

Distracted Institutional Investors Daniel Schmidt Journal of Financial and Quantitative Analysis, forthcoming A version of this paper can be found here Want to read our summaries of academic finance papers? Check out our Academic Research Insight category What [...]

The Momentum of News

By |2019-04-02T08:12:09-04:00April 4th, 2019|Research Insights, Larry Swedroe, Momentum Investing Research|

Since the development of the capital asset pricing model (CAPM) in the 1960s, hundreds of anomalies (what John Cochrane famously called a “zoo of new factors”) have been uncovered in the cross-section of stock returns. [...]

Momentum Factor Investing in Russia

By |2019-04-01T13:45:54-04:00April 2nd, 2019|Research Insights, Factor Investing, Momentum Investing Research|

Momentum Factor Investing in 19th Century Imperial Russia William Goetzmann and Siman HuangJFE, forthcoming.A version of this paper can be found here. What are the research questions? Momentum is often considered the "premier anomaly" because of [...]

Short Selling + Insider Selling = Bad News

By |2019-04-01T11:20:54-04:00April 1st, 2019|Research Insights, Basilico and Johnsen, Academic Research Insight|

Do Short Sellers Trade on Private Information or False Information? Amiyatosh Purnanandam and H. Nejat Seyhun Journal of Financial and Quantitative Analysis A version of this paper can be found here Want to read our summaries [...]

Book Review: Your Complete Guide to a Successful and Secure Retirement

By |2019-03-25T12:16:07-04:00March 28th, 2019|Research Insights, Book Reviews, Other Insights|

If you are looking for an applied framework for tackling the topic of financial planning, you should read Your Complete Guide to a Successful and Secure Retirement, by Larry Swedroe and Kevin Grogan. This book [...]

Why the Size Premium Should Persist

By |2019-03-19T14:08:06-04:00March 20th, 2019|Research Insights, Factor Investing, Larry Swedroe, Size Investing Research|

As the chief research officer for Buckingham Strategic Wealth and The BAM Alliance, I’m often asked, after any asset class or factor experiences a period of poor performance, if the historical outperformance of stocks with [...]

Industry Insiders Can Outperform the Market

By |2019-03-18T10:16:07-04:00March 18th, 2019|Basilico and Johnsen, Academic Research Insight|

Industry Familiarity and Trading: Evidence from the Personal Portfolios of Industry Insiders Itzhak Ben-David, Justin Birru and Andrea Rossi Journal of Financial Economics, forthcoming A version of this paper can be found here Want to read our [...]

Factor Investing in Practice

By |2019-03-14T08:21:47-04:00March 14th, 2019|Research Insights, Factor Investing, Academic Research Insight, Value Investing Research, Size Investing Research|

Factor Investing from Concept to Implementation Eduard van Gelderen, Joop Huij, and Georgi KyosevWorking paperA version of this paper can be found here[ref]hat tip to Art Johnson for mentioning this paper![/ref] What are the research questions? [...]

Low Volatility Turnover with Value and Momentum

By |2019-03-11T10:56:52-04:00March 11th, 2019|Research Insights, Basilico and Johnsen, Academic Research Insight|

Low Volatility Needs Little Trading Pim van Vliet Journal of Portfolio Management A version of this paper can be found here Want to read our summaries of academic finance papers? Check out our Academic Research Insight [...]

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