2017 Factor Alpha Newsletter
“Value” vs. “Momentum”

Categories Investing, Momentum, OSAM Research, Value

The past year was full of plot twists. Momentum beating Value was not one of them. The victory comes as no surprise because these 2 themes swap leadership cyclically — 2017 was Momentum’s year. And, as you can see in the exhibits below, Momentum’s winning streak definitively spans all 7 of the universes we ran. Continue reading “2017 Factor Alpha Newsletter
“Value” vs. “Momentum””

Factor Alpha Newsletter
“OSAM Value” (2000 thru Oct-2017)

Categories Investing, OSAM Research, Value

* The backtested results for this article are as of 10/31/17. 1

Value is the centerpiece of our investment framework and it gets built into every one of our strategies — even growth-oriented strategies. We believe that what you pay for an investment is one of the most predictive characteristics of future alpha. Continue reading “Factor Alpha Newsletter
“OSAM Value” (2000 thru Oct-2017)”

OSAM Guide to Factor AlphaSM

Categories Author: Ehren Stanhope, Investing, Market Cap, Momentum, Quality, Value, Yield

BACKGROUND: We invest deeply in our in-house research, trading, and technology platforms and 100% of the research feeding our investment process is conducted internally. In most cases, our exhaustive study of fundamental investment characteristics leads us to redefine industry-standard metrics at the most granular level in order to boost the accuracy and strength of the signal. We’re fortunate to have a core team of Researchers & Technologists who all share a passion for, and background in, factor-based investing (visit our Blog archives for more background). As a result, OSAM is a living, breathing, evolving, team-based research project. This Guide is an overview of our findings. Continue reading “OSAM Guide to Factor AlphaSM

2016 Factor Alpha Newsletter

Categories Investing, OSAM Research

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.1 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 Universe2 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”