We seek superior results in high alpha, difficult-to-trade strategies across the globe.
We use a systematic yet straightforward approach.
We seek clarity in the complex picture of the equity markets.
We believe profitable results are more likely when focusing on well-balanced companies with evidence of valueandqualityandmomentumandstability.
Our investment decisions are more productive when we base them on economically intuitive measures, think outside the “linear” box, and amplify what works within well-defined peer groups.
An investment can be right and still be risky. Leaning skeptically on optimizers and heavily on common sense, we choose where to diversify and what to avoid to minimize uncompensated risks.
We know transaction costs — the ultimate cost of implementing any investment strategy — are higher and more hidden than generally perceived. Controlling the “implementation shortfall” is key to holding equity-market profits.
We focus on four well-known equity-market anomalies:
Price-driven measures using the balance sheet, cash flow, and income statements.
Barometers of corporate fitness indicate the potential for management success.
Price momentum is the quantitative equivalent of “Don’t fight the tape.”
The notion that higher risk is always compensated was widely accepted… until markets reminded otherwise.
The New Yorker is the source of 99% of the cartoons we share