Is Time Really Money?
Risk and Investment Horizon: Is Time Really Money? Ekaterina E. Emm and Ruben C. TrevinoJournal of Investing, 2019A version of this paper can be found hereWant [...]
There and Back Again: My 180 Back to Simplicity
I’m 34. I have some savings (long-term investments), earn a respectable living, and am comfortable—and happy—spending modestly relative to income. I have a simple balance [...]
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 [...]
No Skill? Well, Active Share Won’t Save You!
Is High Active Share Always Good? Giuliano De Rossi and Gurvinder BrarThe Journal of Asset ManagementA version of this paper can be found hereWant to read [...]
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 [...]
DIY Asset Allocation Weights: August 2019
Do-It-Yourself tactical asset allocation weights for the Robust Asset Allocation Index are posted here. (Note: free registration required) Request a free account here if you [...]
The Perils (and Inevitability) of Forecasting
I recently experienced one of those fortunate confluence of events that helped me better grasp the relationship between forecasting (which I feel is futile) and [...]
Can Low Vol Strategies Be Improved
My Advisor Perspective article of June 17, 2019 discussed the regime shifting nature of the low volatility anomaly—low volatility stocks have outperformed high volatility stocks, [...]
Financial Advice and Bank Profits
Financial Advice and Bank Profits Daniel Hoechle, Stefan Ruenzi,Nic Schaub, Markus Schmid Review of Financial Studies, November 2018 Versions of this paper can be found here and [...]
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 [...]
March for the Fallen 8-Week Training Program for Busy Professionals
We are 8-weeks out. In theory, participants should have already been training, but we recognize that some people like to procrastinate and wait until the [...]
Purchasing Managers’ Index (PMI) and Factor Performance
A physicist, a chemist, and an economist are stranded on an island, with nothing to eat. A can of soup washes ashore. The physicist says, [...]
Research on the Financial Performance of Collectibles
When Rationality Meets Passion: on the Financial Performance of Collectibles Philippe Masset and Jean-Philippe WeisskopfJournal of Alternative Investments, Fall 2018A version of this paper can be [...]
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 [...]
Bogleheads on Investing Podcast (Wes Gray)
Here is a link to our podcast on "The Bogleheads on Investing Podcast": Dr. Wesley R. "Wes" Gray is my guest in Episode 9, 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) [...]
Strategies to Reduce Crash Risk in Stocks
Because equities are much riskier than high-quality bonds, the vast majority of the risk of a conventional 60 percent equity/40 percent bond portfolio is equity [...]
Pathetic Protection via Protective Puts
Pathetic Protection: the Elusive Benefits of Protective Puts Roni IsraelovJournal of Alternative Investments, Winter 2019A version of this paper can be found hereWant to read our summaries of academic [...]
Enhancing the Performance of Momentum Strategies
In “Your Complete Guide to Factor-Based Investing,” Andy Berkin and I presented the evidence demonstrating that momentum, both cross-sectional (or relative) momentum and time-series (or [...]
Living with Money Podcast (Wes Gray)
Here is a link to our podcast on "The Living with Money Podcast": In Ep. 73, Tim talks with CEO of Alpha Architect – Wes [...]