In this piece we explore the core considerations of factor investing and how quantitative and dynamic multi-factor frameworks can help investors navigate changing market environments.

Our expert Mark Kritzman explains how dynamic time warping can help investors with practical insights for better decision-making.

Quant investing has been called a ‘black box,’ but is that really the case? In the first of this new series on Quant Investing we sit down with Harald Lohre, Director of Quant Research at Robeco, to break down this myth.

We break down why mastering convexity is key to cutting losses early, riding big winners, and staying ahead of market turbulence.

Quant equity investing has enjoyed the resurgence of Value since late 2020. Meanwhile, the quest for innovation in capturing returns continues unabated. Since the birth of quant investing, there’s been a steady rise in the number of factors that researchers claim can explain alpha. But it turns out that 15 factors are enough…

What does playing poker have in common with trading stocks? A lot, according to these top Wall Street traders. From patience and bet sizing to managing risk and reading other players, top firms like Susquehanna use poker to help train new traders.

Portfolio Manager Manar Hassan-Agha discusses the importance of position sizing in investing and how factors like behavioural biases, market structures, and optimal betting strategies under the Kelly Criterion can impact returns at varying position weights.

Since the birth of quant investing, there’s been a steady rise in the number of factors that researchers claim can explain alpha. But it turns out that 15 factors are enough to capture most of the drivers of equity market returns.

Factor inflation—there are over 400 documented factors to date that theoretically allow institutional investors to target specific risk-return objectives. But many of these factors are simply the byproduct of data mining and do not have investment utility. Furthermore, reconstitution policies of index providers can leave…

During periods of sustained price rises in equities, we see tremendous market interest in measuring the "frothiness" of prices, both for the market overall as well as for individual sectors and countries. Robin Greenwood, George Gund Professor of Finance and Banking at Harvard Business School and academic partner…

FSC Development Director Ron Williams' interviews Martin Arthur Armstrong, CEO of Armstrong Economics. They discuss shifts between public and private sector confidence, with historical examples from Rome to modern political shifts. Armstrong offers his unique perspective on cycles analysis and historical perspective in…

We’ll discuss the current state of gold, the impact of rising borrowing costs on futures pricing, and how these elements intertwine with market trends. Along the way, we’ll tackle listener questions that challenge the status quo, digging into everything from fees in the hedge fund world to the implications of recent…

Today, we dive into the complexities of current market dynamics, emphasizing the heightened levels of uncertainty stemming from recent regime changes. Mark Rzepczynski shares insights on how this uncertainty can influence investment behavior and market trends, highlighting the importance for investors to adapt their…

In this episode of Excess Returns, we sit down with Doug Clinton of Intelligent Alpha to explore the fascinating intersection of AI and investment strategy. We discussed how Doug is using large language models (LLMs) like ChatGPT, Claude, and Gemini to build portfolios that aim to beat the market over time.

In this episode of Excess Returns, we sit down with AQR founder Cliff Asness for a fascinating discussion about market efficiency, behavioral finance, and the future of quantitative investing.

Today, we dive deep into the complex dynamics of global markets and the often overlooked risks that can accumulate during periods of apparent stability. Together with Richard Brennan, we discuss the rising concerns over declining fertility rates worldwide, highlighting how economic pressures, environmental challenges, and…

In this episode, Mark Rzepczynski joins Alan Dunne to explore narratives, rationality, and behavioral uncertainty, particularly in the context of trend following. They discuss recent market trends in the wake of the election, with a focus on bond market movements.

We delve into the shifting landscape of systematic investing, highlighting the growing use of quant based strategies as well as AI and machine learning in portfolio management. The discussion also emphasizes the significant impact of concentration within the S&P 500, with Goldman Sachs now predicting that this could lead…

Carmine De Franco, Head of Quantitative Equity Portfolio Management, and Andrew Craig, Co-head of the Investment Insights Centre, explore the advantages of quantitative investing as a source of diverse elements of performance.

This episode dives deep into the intricacies of trend following strategies and their connection to complex adaptive systems. Richard Brennan and Niels Kaastrup-Larsen explore how these systems respond to market signals and the importance of boundaries in shaping investor behavior.