Guest Jim O’Shaughnessy, OSAM’s CIO/CEO, and Carol Massar find much to discuss during his periodic visit to her daily Bloomberg Markets radio program. For more research on this topic, go to the microcap archives.
The interview begins 2 minutes into the recording…
“Bloomberg Markets: O’Shaughnessy on Investing in Micro-Caps” transcript: Continue reading “Discovering Under-Covered Microcap Stocks
on Bloomberg Markets”
To be sure, things are a little bit hectic here in the U.S. — headlines, rants, and Tweets still manage to shock the markets and year-to-date has been rough. So why not avert our gaze North of the border for a change…
Any good news up there? Wrong question.Getting tips from a newsfeed is risky. Continue reading “2017 Factor Alpha Newsletter
Based on our Factor Attribution Tool, we’ve seen size play a large contributing role to the 1st quarter’s performance, especially when staying within what we consider to be a “true” microcap space — that is, disallowing the portfolio to drift up the market cap scale into small caps. Continue reading “2017 Factor Alpha Newsletter
So far in 2017, investors saw how multi-factor exposure to Value — in concentrated portfolios — can be beneficial in the small cap space. This 1Q17 Small Cap edition of the Factor Alpha Newsletter (see also: All Stocks & Global Large Cap) compares our proprietary multi-factor themes to the Russell 2000® Value Index (R2000V).
Continue reading “2017 Factor Alpha Newsletter
“[Market forecasters] are so far off that you’re much better giving a monkey a coin and going with whether it lands heads or tails.”
— Jim O’Shaughnessy, OSAM Chairman & CEO/CIO
Chuck Jaffe, acclaimed MarketWatch columnist and “The Big Interview” host, challenges the continuing OSAM tradition of “completely ignoring Washington D.C. and other noise,” provoking Jim to blurt out the derogatory monkey comment quoted above.
“The Big Interview: Jim O’Shaughnessy” Continue reading “MoneyLife Radio Grills OSAM’s CIO”
Last week was the 8-year anniversary of The Great Recession’s March 9, 2009 market bottom. To celebrate, or whatever you’re supposed to do to commemorate low points, we offer the first in a series of recent interviews with the OSAM Research Team. Honestly, even if this conversation happened the next day, March 10, 2009, the tenor would’ve been about the same: If your formula works, stick to it.
“O’Shaughnessy on Active vs. Passive” Continue reading “Bloomberg Markets’ Carol Massar Asks OSAM:
Active or Passive?”
“Trump Bump Boosts ‘Smart Beta’ Funds” — WSJ, Feb. 5, 2017
The chart below helps answer these 2 questions: “Do I really want to rely on a tweet to drive my investing success?” and “Am I (and/or are my clients) in an ETF that selects its stocks for their scalability rather than their potential to generate alpha?” Additionally, this article asks “How does a contrarian thesis of ‘building resilient, inexpensive portfolios by selecting quality, high-yielding stocks’ — or something along those multi-thematic lines — look under the lens of P/E?” Continue reading “Expensive ETFs —
the P/E Under the Hood”
This Global Large Cap edition of the Factor Alpha Newsletter (FAN) follows up on the 2016 All Stocks FAN. As before, we’ll use our proprietary multi-factor themes but with the MSCI’s All-Country World Index (MSCI ACWI) as a starting point. Continue reading “2016 Factor Alpha Newsletter
“Global Large Cap””
We focus on factors because of the reason behind why they work, not the performance. In any given year, one factor can do well or poorly, creating “noise” in the long-term process. This is why we blend factors together to build proprietary multi-factor themes. Singling out a factor for good/bad performance is not what we do — instead, we look for conceptual ideas that exhibit long-term efficacy.
Using the All Stocks Universe as a guide, this inaugural edition of the Factor Alpha Newsletter (FAN) offers a live-time snapshot of the past 12 months. Continue reading “2016 Factor Alpha Newsletter”