In Focus

Existence and Persistence of Value

The value premium has proven to be persistent, but it doesn’t mean a value strategy always outperforms. The key to successful value investing is exploiting mean reversion through countercyclical timing.

If Factor Returns Are Predictable, Why Is There an Investor Return Gap?

By Jason Hsu

November 2015 | Read Time: 10 min

Substantial evidence supports cyclicality in factor returns. Evidence also indicates most investors don’t fully benefit from this insight due to behavioral biases—but contrarian investors do.

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