Practical analysis for investment professionals

Nicolas Rabener

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37 Posts

Biography

Nicolas Rabener is the managing director of FactorResearch, which provides quantitative solutions for factor investing. Previously he founded Jackdaw Capital, a quantitative investment manager focused on equity market neutral strategies. Previously, Rabener worked at GIC (Government of Singapore Investment Corporation) focused on real estate across asset classes. He started his career working for Citigroup in investment banking in London and New York. Rabener holds an MS in management from HHL Leipzig Graduate School of Management, is a CAIA charter holder, and enjoys endurance sports (100km Ultramarathon, Mont Blanc, Mount Kilimanjaro).

Author's Posts
The Mirage of Direct Indexing

Direct indexing seems like a free lunch that is too good to pass on. But is it?

Less Efficient Markets = Higher Alpha?

Shouldn't less efficient capital markets with greater information asymmetries offer more alpha opportunities?

Equal- vs. Market Cap-Weighted Portfolios in Stock Market Crashes

How have equal- and market-cap weighted US equity portfolios performed relative to one another during downturns?

Myth-Busting: Equities Are an Inflation Hedge

How can investors hedge against inflation risk? Do equities offer any protection?

Avoiding Disaster with Catastrophe Bonds?

What role might catastrophe bonds, or cat bonds, play in a diversified portfolio?

Improving the Odds of Value Investing

So what is the value factor's key performance driver? Based on what evidence?

Myth-Busting: Money Printing Must Create Inflation

Shouldn't all the recent monetary and fiscal stimulus lead to higher inflation? Maybe not.

Myth-Busting: Earnings Don’t Matter Much for Stock Returns

The relationship between earnings and equity returns is more illusion than reality.

Myth-Busting: Low Rates Don’t Justify High Valuations

Lower interest rates may not, in fact, lead to higher P/E ratios.

The Value Factor’s Pain: Are Intangibles to Blame?

Are intangibles responsible for the poor performance of the value factor?