CEO, Alpha Architect

The Alpha Architect mission is to empower investors through education. We are a research-intensive asset management firm focused on delivering sophisticated tax-efficient active ... more

ALL CONTRIBUTIONS

Combining Momentum With Long-Term Reversal
Two of most documented anomalies in the asset pricing literature are the momentum effect and the long-term reversal effect.
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Diversifying Your Value Portfolio? Quality Works, But Have You Heard Of Momentum?
What if your portfolio was only based on one idea? Something like “stocks always go up” or “value always beats growth.” You may be learning a humbling lesson right now that Mr. Market has taught us over and over again.
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Trading Costs Wipe Out The Overnight Return Anomaly
While overnight performance versus intraday still holds gross and net of transaction costs, the statistical robustness of any outperformance is low. This indicates that the anomaly is more of a random walk than it is a repeatable trading strategy.
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A Viral Market Melt-Up, Optimism Or Fundamentals?
There is no question that the stock market has been acting a bit like a three-year-old consisting of temper tantrums and sugar highs. In a world with such volatility, it might be a good idea to sit down, take a measure of the data being presented.
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How I Explain Crappy Returns
Diversification. It looks great on paper, but for the past ten years, being globally and “Factor” diversified has been anything but great.
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Cheap Vs. Expensive Factors: Does Valuation Matter For Future Returns?
Tesla (TSLA) breached the $100 billion market capitalization in January 2020 and became the most valuable car manufacturer globally. However, valuing the company is challenging given the growth profile, complexity of the business, and erratic CEO.
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STOCKS I FOLLOW

IWD iShares Russell 1000 Value Index Fund
VLUE iShares Trust - iShares MSCI USA Value Factor ETF
VXX iPath S&P 500 VIX Short-Term FuturesTM ETN

TWEETS

PERSONAL BLOG

Latest Posts
ETF-Prenuers: An Introduction To ETF White Label Services
Interested in starting an ETF? This piece is an introduction to ETF white label services, which is the industry term for a firm that helps an “ETF-preneur” bring an idea to the public market.
ETFs Vs Mutual Funds: Who Wins? Investors.
Without question, you have heard of Exchange Traded Funds, also commonly referred to as ETFs. It’s a complex topic so I brought in the best person I know to help us break it down.

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