I recently performed a study of over fifty different value factors to see which performed the best. (Admittedly, a lot of them are similar.) The…
When we trade individual stocks, we incur transaction costs. The purpose of this article is to explain these costs, quantify them, and help you avoid…
Did you know that European stocks are easier to profitably trade than North American ones? That seems counterintuitive, doesn’t it? Information about them seems hard…
When I invest in a company, I try to look at it from every angle I can. But obviously, some angles are more important than…
This is the fourth and last article in a series: here is the first (on factor design); here is the second (on designing ranking systems);…
How to Design a Fundamentals-Based Strategy that Really Works, Part Three: Principles of Backtesting
This is the third article in a series; here is the first (on factor design) and here is the second (on designing ranking systems). I’ve…
This is the second article in a series; here is the first. I’ve been using a fundamentals- and ranking-based strategy for stock picking since 2015,…
I have been using a strictly quantitative process to buy and sell stocks for the last six years, with excellent results: I have a CAGR…
Overview Analysts and investors have long puzzled over the difficulties of calculating the cost of equity. The cost of equity is an essential component of…
If you were given a crystal ball that would accurately predict a company’s growth over the next year, you would logically invest in those companies…