Other Insights

//Other Insights

Strategies to Reduce Crash Risk in Stocks

By |2019-07-12T13:15:49-04:00July 16th, 2019|Research Insights, Larry Swedroe|

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 risk. Here’s the simple math demonstrating the point. Well-diversified equity [...]

Pathetic Protection via Protective Puts

By |2019-07-12T13:14:02-04:00July 15th, 2019|Crisis Alpha, Factor Investing, Basilico and Johnsen, Academic Research Insight, Managed Futures Research|

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 finance papers? Check out our Academic Research Insight category What are the [...]

Enhancing the Performance of Momentum Strategies

By |2019-07-12T10:42:25-04:00July 12th, 2019|Research Insights, Factor Investing, Larry Swedroe, Momentum Investing Research|

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 absolute, trend following) momentum, not only increases the explanatory power [...]

Fact, Fiction, and the Size Effect

By |2019-07-07T11:21:15-04:00July 8th, 2019|Factor Investing, Basilico and Johnsen, Academic Research Insight, Size Investing Research|

Fact, Fiction and the Size Effect Ron Alquist, Ronen Israel, And Tobias MoskowitzJournal of Portfolio Management, 2018A version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic [...]

Debunking myths about stock buybacks

By |2019-06-28T09:10:06-04:00July 1st, 2019|Research Insights, Basilico and Johnsen, Academic Research Insight|

Buyback Derangement Syndrome Clifford Asness, Todd Hazelkorn, And Scott Richardson Journal of Portfolio ManagementA version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic Research Insight [...]

Is Active Management Skilled? If So, Who Benefits?

By |2019-06-27T10:47:59-04:00June 28th, 2019|Research Insights, Larry Swedroe, Active and Passive Investing|

According to Christian mythology, the Holy Grail was the dish, plate or cup with miraculous powers that were used by Jesus at the Last Supper. Legend has it that the Grail was sent to Great [...]

Large-Cap Price-to-Book Investing: What is Dead May Never Die

By |2019-06-19T12:43:04-04:00June 25th, 2019|Guest Posts, Value Investing Research, Size Investing Research|

In the great book and series Game of Thrones, the inhabitants of the Iron Islands have a saying "What is Dead May Never Die" which is to be replied with "But rises again harder and [...]

The Curse of Popularity

By |2019-06-20T08:28:54-04:00June 20th, 2019|Research Insights, Larry Swedroe, Academic Research Insight, Behavioral Finance|

We can define popularity as the condition of being admired, sought after, well-known, and/or accepted. One would think popularity is a good thing. However, when it comes to investing, the research shows that along with [...]

Fama French Factors and ESG: The Good Minus Bad Factor

By |2019-06-17T08:27:56-04:00June 17th, 2019|ESG, Research Insights, Basilico and Johnsen, Academic Research Insight|

Integrating ESG in Portfolio Construction Roy Henriksson, Joshua Livnat, Patrick Pfeifer, and Margaret StumppJournal of Portfolio ManagementA version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our [...]

Does Leverage Explain the Investment Premium?

By |2019-06-10T14:46:53-04:00June 13th, 2019|Research Insights, Factor Investing, Larry Swedroe, Other Insights|

Research demonstrates that the investment factor has explanatory power for the cross-section of stock returns, with high-investment firms tending to underperform low-investment firms. For example, Kewei Hou, Chen Xue and Lu Zhang, authors of the [...]

Passive Sustainable Funds

By |2019-06-10T07:41:26-04:00June 10th, 2019|ESG, Basilico and Johnsen, Academic Research Insight|

Passive Sustainable Funds: the Global Landscape Hortense Bioy and Kenneth LamontThe Journal of Index Investing, 2018A version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic Research Insight category. [...]

Equity Compensation Planning in a TCJA World

By |2019-06-04T09:35:19-04:00June 6th, 2019|Financial Planning, Research Insights, Guest Posts, Tax Efficient Investing|

Employee equity & stock options are a major part of the modern compensation plan. That's certainly the case for my financial planning clients. Unfortunately, a search for the best approach to managing your equity opens [...]

The Re-Death of Value, or Déjà Vu All Over?

By |2019-06-12T17:10:17-04:00June 4th, 2019|Research Insights, Guest Posts, Value Investing Research|

The underperformance of value stocks over the past 10 years has received much attention from the financial media and led at least some investors to conclude that value investing is dead. From 2009 through March [...]

Is factor momentum really everywhere?

By |2019-06-03T11:16:20-04:00June 3rd, 2019|Research Insights, Basilico and Johnsen, Academic Research Insight, Momentum Investing Research|

Factor Momentum Everywhere Tarun Gupta  and Bryan KellyJournal of Portfolio ManagementA version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic Research Insight category What are [...]

News Sentiment and Bonds

By |2019-05-28T13:25:20-04:00May 28th, 2019|Basilico and Johnsen, Academic Research Insight, Fixed Income|

Investing in US 10-year Yields with News Sentiment Nina Gotthelf and Matthias W. UhlJournal of Investing, Winter 2018A version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our Academic Research [...]

#Women in Finance Know Stuff: A Conversation with Perth Tolle

By |2019-05-24T08:39:46-04:00May 24th, 2019|Women in Finance Know Stuff, Basilico and Johnsen, Interviews|

Today, we are interviewing Perth Tolle, Founder and CEO of Life and Liberty Indexes, a provider of the world's first freedom-weighted Indices. I met Perth during the first Alpha Architect Democratize Quant conference in Spring [...]

Volatility Targeting Improves Risk-Adjusted Returns

By |2019-05-21T13:18:18-04:00May 22nd, 2019|Research Insights, Larry Swedroe, Other Insights, Low Volatility Investing, Tactical Asset Allocation Research|

There’s a large body of research, including the 2017 study “Tail Risk Mitigation with Managed Volatility Strategies” by Anna Dreyer and Stefan Hubrich, that demonstrates that, while past returns do not predict future returns, past [...]

Volatility Anomalies: IVOL and Vol-of-Vol

By |2019-05-21T11:53:51-04:00May 21st, 2019|Research Insights, Factor Investing, Larry Swedroe, Low Volatility Investing|

Two of the more interesting puzzles in finance are related to volatility—stocks with greater idiosyncratic volatility (IVOL) have produced lower returns and stocks with high uncertainty about risk, as measured by the volatility of expected [...]

Things to Consider for ESG Portfolio Construction

By |2019-05-20T10:46:26-04:00May 20th, 2019|ESG, Research Insights, Basilico and Johnsen, Academic Research Insight|

A Guide to ESG Portfolio Construction Michael Branch, Lisa R. Goldberg and Pete HandJournal of Portfolio ManagementA version of this paper can be found hereWant to read our summaries of academic finance papers? Check out our [...]

Structuring Lower Risk Opportunity Zone Investments

By |2019-05-15T10:46:48-04:00May 16th, 2019|Financial Planning, Research Insights, Guest Posts, Tax Efficient Investing|

The tax benefits of the new Opportunity Zone program are potentially phenomenal. However, when you dig into the details of the program you quickly realize that many of the investment options are typically higher-risk and [...]

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