Active Investing — Tips for Success
on Bloomberg Markets

Categories Interview, Investing, OSAM Research

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OSAM Director of Research & Senior Portfolio Manager Chris Meredith joins Bloomberg Markets co-anchors Carol Massar1 and Cory Johnson2 during his visit to their daily radio program in October.3

This interview4 offers a helpful and concise look at OSAM Research’s process…

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“Bloomberg Markets: OSAM’s Chris Meredith on Successful Active Investing” transcript: Continue reading “Active Investing — Tips for Success
on Bloomberg Markets”

Humans are Unreliable Experts,
Getting in the Way of Outstanding Performance

Categories Author: Jim O'Shaughnessy, Insight, Investing

“What ails the truth is that it is mainly uncomfortable, and often dull.
The human mind seeks something more amusing, and more caressing.”

— H. L. Mencken

Given our current state of affairs, it seems like right now is a very good time for a refresher on Human Behavior — the one predictable thing in the market. Continue reading “Humans are Unreliable Experts,
Getting in the Way of Outstanding Performance”

3Q17 Factor Alpha Newsletter
REITs

Categories Investing, OSAM Research

“Are the fees that these funds1 are charging right now justifiable, given the outcomes and given that, in many cases, they are just simply ‘repackaging exposures’?

. . .

Absolutely. Because at the end of the day, “strategic beta is just a new form of active management.”

— Ben Johnson (Director, Global ETF Research Morningstar)2

While factor investing has experienced significant proliferation across the equity landscape, the approach has largely been ignored in the publicly-traded real estate securities market. Continue reading “3Q17 Factor Alpha Newsletter
REITs”

Podcast 3: Finding the Factor Alpha in REITs

Categories Author: Jim O'Shaughnessy, Insight, Investing

“What Works on Wall Street” Podcast
According to our research — and apparently for no good reason — the efficacy of factor signals in real estate investing has largely been upstaged by the factor revolution in the equities market. In fact, the public real estate market is uniquely inefficient and a fertile ground for active, factor-based investing…

Episode 3 transcript: Continue reading “Podcast 3: Finding the Factor Alpha in REITs”

7 Traits for Investing Greatness:
#6 Probability vs. Possibility
#7 Discipline

Categories Author: Jim O'Shaughnessy, Investing

As I cautioned earlier (see Parts 1, 2, and 3), it’s harder than you’d think to stick with an Active approach to investing. Traits #6 and #7 (of 7 total) outline two more ways for Active investors to achieve greatness over the long term: Continue reading “7 Traits for Investing Greatness:
#6 Probability vs. Possibility
#7 Discipline”

7 Traits for Investing Greatness:
#2 Process, not Outcome
#3 Ignore Forecasts & Predictions

Categories Author: Jim O'Shaughnessy, Investing

Active investing is hard. Plus, there’s a strong temptation to join the “masses going Passive” — or else get left behind. Following up on the first part of this article, here are the 2nd and 3rd Traits (of 7 total) that I think are necessary to be a successful long-term Active investor: Continue reading “7 Traits for Investing Greatness:
#2 Process, not Outcome
#3 Ignore Forecasts & Predictions”

7 Traits for Investing Greatness:
#1 Long-Term Perspective

Categories Author: Jim O'Shaughnessy, Investing

Years of experience have taught me that becoming a successful Active investor is extremely difficult, requires a very specific set of characteristics, and that many investors attempting to actively manage their portfolios today lack the emotional and personality traits necessary for success.

Investors with Passive portfolios — presuming they are adequately and broadly diversified — face only one real point of failure: reacting emotionally to a market selloff and selling their holdings, often near a market bottom.  Continue reading “7 Traits for Investing Greatness:
#1 Long-Term Perspective”

Book Marks:
4 Books About How to Think Better

Categories Author: Patrick O'Shaughnessy

“Summer” is over for many of us, sorry to say, and TMI1 has left our brains prone to being led astray over the past couple of months. If you’ve already read through the Summer Reading List prescribed in this post, here are some books that help us think in ways that make us less prone to errors — and/or hasty decisions — as we begin to wind down 2017.

Happy Reading,
— Patrick

Continue reading “Book Marks:
4 Books About How to Think Better”