Investing is never done in the abstract. Investing is — and always has been — goals-based.
"There’s one aspect of MMT that I have some sympathy for: the notion that what we spend money on is far more important than how we finance it." — Cliff Asness
What do we do in an environment where fundamentals begin to take a backseat to public policy?
The pandemic-era stock markets have been a showcase of behavioral biases in action.
"If we thought of the equity premium as a fear premium," Rob Arnott says, "a lot of the so-called anomalies that we’ve talked about would not be anomalies at all."
Cliff Asness, Rob Arnott, Roger G. Ibbotson, and other luminaries explore the nature of bubbles and the momentum factor.
What are the most widely used causality tests in the equity markets?
While analytical judgment is considered universal in science, in finance investment decisions are derived from mental heuristics.
Where is the common ground between quant and fundamental investing?
This book provides the insights and tools investors need to improve their investing outcomes.