Guest Posts

Who’s Afraid of a Big Bad Bear? Many Investors Shouldn’t be that Concerned

By | 2018-03-06T14:02:48+00:00 March 2nd, 2018|Guest Posts|

Watching stock prices drop quickly can be terrifying. In late January, every big decline in stock prices was greeted with lots of media coverage, cable news networks rolling out their "market in turmoil" graphics, and [...]

Are Factors Better and More Diversifying Than Asset Classes?

By | 2018-02-23T11:06:14+00:00 February 23rd, 2018|Factor Investing, Trend Following, Guest Posts, Low Volatility Investing|

Executive Summary Factor investing promises outperformance at low cost. But to add value in a portfolio, it must deliver positive risk-adjusted returns and with low correlation to existing holdings. Historically, pure factor exposures have earned [...]

A Quantitative Strategy for Enhancing Merger Arbitrage

By | 2018-01-25T21:31:25+00:00 January 25th, 2018|Research Insights, Guest Posts|

Merger arbitrage, sometimes known as "risk arbitrage," is an investing strategy in which the investor bets on announced M&A deals. After a merger is announced, shares of the target tend to trade below the offered [...]

Value and Momentum Factor Portfolio Construction: Combine, Intersect, or Sequence?

By | 2018-01-19T17:34:43+00:00 January 19th, 2018|Factor Investing, Guest Posts, Value Investing Research, Momentum Investing Research|

 Wes asked that I contribute to the ongoing debates regarding the construction of value and momentum portfolios. There are three key research pieces on the topic, all with different viewpoints: Alpha Architect's take AQR's take [...]

The Value Effect and Macroeconomic Risk

By | 2018-01-09T09:26:25+00:00 January 9th, 2018|Larry Swedroe, Research Insights, Guest Posts, Value Investing Research|

It has been well-documented that value stocks have provided higher expected returns than growth stocks. However, there is a great debate about the source of that premium: Is it risk-based or is it related to [...]

Myth Busting: Stocks Correlations and Active Investment Opportunities

By | 2017-11-29T08:55:30+00:00 November 29th, 2017|Guest Posts|

Many investors, investment professionals, and pundits make comments regarding the relationship between stock correlations and opportunities for active stock pickers. For example, here is a recent example from the Financial Times: Correlation crash clears way [...]

Can asset bubbles be mathematically quantified before they burst?

By | 2017-11-13T13:08:42+00:00 November 14th, 2017|Research Insights, Guest Posts, Low Volatility Investing, Macroeconomics Research|

The subject of asset bubbles and market crashes has fascinated me for more than 20 years. As an options market maker for Susquehanna International Group ("SIG"), extreme price movements were a daily source of concern. I [...]

A Potential Winner: Buying Lottery Stocks with Low Short Interest

By | 2017-10-19T09:12:40+00:00 October 20th, 2017|Academic Research Insight, Research Insights, Guest Posts|

Short Interest and Lottery Stocks Kelley Bergsma & Jitendra Tayal A version of this paper can be found here Want to read our short summaries of academic finance papers? Check out our Academic Research Insight category. What are [...]

Dividend Capture Strategy: Trade Execution Matters

By | 2017-10-09T20:38:51+00:00 October 12th, 2017|$dtd, Research Insights, Guest Posts|

One area in investing that is often overlooked by investors is trade execution, which relates primarily to commissions, bid-ask spreads, and price impact. Yet sometimes it is trade-execution alone that can make the difference between [...]

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Assessing the Potential Market Impact of Passive, Short-volatility, and Low-volatility Strategies

By | 2017-09-29T11:59:50+00:00 September 29th, 2017|Research Insights, Guest Posts, Active and Passive Investing, ETF Investing|

The market has recently experienced record low levels of realized volatility and the VIX™ (volatility index) has fallen to historic lows. Moreover, the incredibly popular FAAMG stocks[ref]FAAMG is an abbreviation referring to the stocks of [...]

Machine Learning for Investors: A Primer

By | 2017-10-05T11:14:33+00:00 September 27th, 2017|Machine Learning, Research Insights, Guest Posts|

If you are out to describe the truth, leave elegance to the tailor. — Albert Einstein Machine learning is everywhere now, from self-driving cars to Siri and Google Translate, to news recommendation systems and, of [...]

Factor Timing Investigation: Interest Rates, Value Spreads, and Factor Premiums

By | 2017-09-22T09:34:38+00:00 September 22nd, 2017|Factor Investing, Larry Swedroe, Research Insights, Guest Posts|

Now that the Federal Reserve has begun the process of raising interest rates, and has announced their intention to begin to unwind their policy of quantitative easing (reducing the amount of bonds in their portfolio, [...]

Trend-Following with Valeriy Zakamulin: Anatomy of Trading Rules (Part 4)

By | 2017-08-18T16:54:23+00:00 August 13th, 2017|Trend Following, Trend-Following Course, Guest Posts, Investor Education, Introduction Course|

In our context, a technical trading indicator can be considered as a combination of a specific technical trading rule with a particular moving average of prices. In two preceding blog posts we showed that there [...]

Volatility Premium, Covered Call Selling, and Knowing What You Own

By | 2017-08-18T16:52:54+00:00 August 8th, 2017|Research Insights, Guest Posts|

The folks at AQR are top-notch researchers and have written a ton of great papers. Some of their more famous papers are the following: Value and Momentum Everywhere A Century of Evidence on Trend Following [...]

My “Repackaging” Pet Peeve: Do Other Advisors See This As Well?

By | 2017-08-18T16:59:59+00:00 July 27th, 2017|Guest Posts|

Like many advisors, I often find myself reviewing accounts and historical performance for clients and prospects with investments at other firms. Of course I see all the usual suspects like annuities, mutual funds with loads, [...]

Trend-Following with Valeriy Zakamulin: Types of Moving Averages (Part 2)

By | 2017-08-18T16:54:20+00:00 July 21st, 2017|Trend Following, Trend-Following Course, Guest Posts, Investor Education, Introduction Course|

In this post we aim to give an overview of some specific types of moving averages. Specifically, we cover "ordinary" moving averages and mention some examples of exotic moving averages.

Elisabetta and Tommi Are Helping us Empower Investors Through Education

By | 2017-08-18T17:05:28+00:00 July 20th, 2017|Basilico, Guest Posts, Business Updates|

Our mission is to empower investors through education. This mission is our passion and what drives us to go to work everyday. But we can't fulfill our mission alone. We need help and our two newest teammates, Elisabetta [...]