Podcast 4: A Returns-Based Approach
for Allocating U.S. Microcap
into Equities Portfolios

Categories Author: Jim O'Shaughnessy, Insight, Investing

“What Works on Wall Street” Podcast
Traditional asset allocation favors capacity-based frameworks that are overly-reliant on flawed market cap-weighted indexes. Also, that approach fails to make adjustments for investor risk tolerance or plan size…

Episode 4: This podcast series is now on iTunes, transcript below: Continue reading “Podcast 4: A Returns-Based Approach
for Allocating U.S. Microcap
into Equities Portfolios”

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”

Podcast 2: Microcaps’ Factor Spreads, Structural Biases, and the Institutional Imperative

Categories Author: Jim O'Shaughnessy, Insight, Investing

“What Works on Wall Street” Podcast
Many investors readily agree that alpha is scarce. It is hard to find, always in great demand, and requires skill to extract. The eclectic microcap universe provides a disparate group of continually evolving and devolving businesses with structural features that remain persistently attractive for investors…

Episode 2 transcript: Continue reading “Podcast 2: Microcaps’ Factor Spreads, Structural Biases, and the Institutional Imperative”

Podcast 1: Factor Crowding, Cobras,
and Other Market Hyperboles

Categories Author: Jim O'Shaughnessy, Insight, Investing

“When a measure becomes a target, it ceases to be a good measure.”
— Goodhart’s Law1

“What Works on Wall Street” Podcast
After reading as many as 18 different WSJ articles on the subject, it’s understandable why investors might be up in arms about the alleged perils of factor crowding. We hope this discussion allays some of those concerns…


Episode 1 transcript: Continue reading “Podcast 1: Factor Crowding, Cobras,
and Other Market Hyperboles”

Podcast Replay: Will Thorndike
“How Skilled Capital Allocators Compound Capital”

Categories Business, Interview, Investing

  In this interview,1 the first part discusses Will’s 8-year research project studying CEOs who were master capital allocators, which is the basis for his book The Outsiders: Eight Unconventional CEOs and their Radically Rational Blueprint for Success.2 The second part of the interview discusses Will’s career in private equity.

Before acting on any of the ideas or advice contained on this recording, please read this important disclaimer.


Topics covered include: Continue reading “Podcast Replay: Will Thorndike
“How Skilled Capital Allocators Compound Capital””