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

Factor Timing Is Tempting
...but “strategic diversification turns out to be a tough benchmark to beat.”
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International Tests Of Factor Anomalies: Most Don’t Survive
Moving from equal-weighted portfolios to value-weighted portfolios with breakpoints derived from big stocks cut the number of significant anomalies in half for most regions.
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The Impact Of Goodwill On Stock Returns
A firm’s stock price should reflect the value of both its tangible and intangible capital. While tangible capital has been widely studied, intangible capital has been receiving more attention due to its increasing importance in economic values.
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The Costs And Benefits Of Tax-Loss-Harvesting Versus An ETF
If one has unique circumstances where customization is highly valued (e.,g., ESG or managing taxes around single stock positions), TLH can be an awesome strategy.
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This Time Is Different? Consider Quantifying Subjective Priors
"This time is different," is a sentiment that leads many investors to stray from using data analysis in their investment decision process and more towards discretionary judgment. 
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Bond Ladders And Income Annuities: Simple Is Beautiful
In general, fixed income investments effectively allow investors to purchase future cash flows with a high degree of certainty. However, it is important to note this degree of certainty only applies when the investments are held to maturity.
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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

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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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