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The Life Cycle of Investing Factors
When Quantitative Becomes Discretionary
The idea of the purely quantitative strategy may be more of a myth than a reality and it is likely just as important to evaluate the people and process behind a quant strategy than the strategy itself.
Why Your Politics Shouldn’t Affect Your Investment Portfolio
In this episode, we look at the historical data to explain why which party controls the White House is not likely predictive of how the market will perform.
The Dangers Of Trying To Outsmart The Market
In this episode, we discuss some of the things that may seem obvious in the current market, and why they might be wrong.
Is Passive Investing Distorting the Market?
The Role of Expectations in Investing
Why the S&P 500 is an Active Portfolio, and Other Observations on the Stages of Active Management
In this episode we talk about the various types of active management and the pros and cons of each.
The Past, Present and Future of Investing with Morningstar’s John Rekenthaler
In this interview, we draw on John’s extensive experience to cover a variety of topics related to the fund industry and investing in general.
The Realities of Growth Investing
The Dangers of the Obvious
What are the odds that the market clearing prices that all of that leads to are far from what the true market price should be? What are the odds that any individual market participant can be smarter than the collective wisdom of all those smart people and computing power?
Six Lessons New Robinhood Traders Could Learn From Peter Lynch
In this podcast episode, we discuss some investing lessons that these new traders could learn from legendary investor Peter Lynch.
The Different Shades of Active Management
Active management deserves all the criticism it gets. After all, over 80% of equity managers underperform their benchmarks over the long-term and active managers charge vastly higher fees compared to passive indices.
Making Sense of the Disconnect Between the Stock Market and the Economy
The Pros and Cons of Direct Indexing
Gaining A Long-Term Edge With The Wisdom of Peter Lynch
What might Peter Lynch say to the millions of investors who have been investing in individual stocks over the last few months. In this article, we can move on to the last three important points that I believe Lynch would agree with.
Have the Fed, Narratives and Passive Flows Broken Fundamental Investing?
Valuing a company (or the market in general) typically involves looking at its price and judging that price relative to its current and projected future fundamentals. In this episode, we talk about some of these factors, how they have impacted the market, and what they might mean for the future.
When Fundamentals Don’t Matter
The Danger of Learning From Your Mistakes
The process of learning from your mistakes is an important part of improving yourself over time both as an investor and as a person. But it requires that you learn the right lessons and don’t draw the wrong conclusions from your failures.
Eight Timeless Buffett Contributions That Go Beyond Returns & Bind Shareholders
Berkshire shareholders have remained committed to Buffett even though he has trailed the market in the last ten years. In this article, I’ve tried to capture some of the reasons why this might be.
Excess Returns: Is the Price/Book Ratio Dead?
The rise on intangible assets and other factors have led many to question whether the price/book ratio has value any more.
Is the Price/Book Ratio Dead?
The Pros and Cons of Quantitative and Discretionary Investing
As quantitative investors, we can sometimes feel that there is no reason anyone should ever use a discretionary strategy. But like most issues in investing, there are two sides to this argument. In this episode, we talk about the benefits of both quantitative and discretionary investing.
The Human vs. The Quant
Timeless Investing and Life Lessons with Jim O’Shaughnessy
In this week’s episode we are privileged to be joined by Jim O’Shaughnessy. Jim is a pioneer in quantitative investing and the founder of O’Shaughnessy Asset Management.
A Detailed Look at the Quality Factor
The value factor is fairly easy to define. There are obviously many different metrics you can use to define value, but they all are a function of comparing the price of stock to some sort of fundamental. So even though each value metric is unique, they at least rhyme in terms of what they are looking for.
The Balance Between What Is and What Should Be
As we all experience a market where things are not going the way that many investors think they should be, I thought it would be a good time to look at some examples of this and what I think can be learned from them.
Interview: Systematic Value Investing with Wes Gray
In this interview with Wes Gray, we discuss:The recent struggles of value investing and how the current period fits into a long-term context…
The Case For Value Stocks
It sounds a little weird to say that value is a value, but on a historical basis, that is exactly what it is. One of the major reasons value investing works is because investors tend to systematically overestimate the problems that companies that are going through difficult times are having.