Insights

In broad terms, there are two types of momentum factors: mean reversion and auto-correlation. Mean reversion momentum factors are...

Not long after the Fund was launched, we initiated a short position in Evergrande. This was done via our risk screening to offset a net...

When I first started doing Asian quant factor research in the mid-1990s, I was surprised by how many companies had net cash on their...

Let’s say you could buy a special class of shares in a company with a strong track record of growing revenue and paying dividends, at a...

Based on close of trade data for 10 September 2021, the largest company in the world is Apple with a market capitalization of $US2.46T....

Recent regulatory changes in China have attracted a lot of attention from investors. Chinese equities have significantly underperformed...

Central banks are destroying fixed interest as an asset class. The cycle of interest rate cuts and quantitative easing has decimated...

One of my favourite stock market quotes is from Scott McNealy, former CEO of Sun Microsystems. In April 2002, in a Bloomberg interview,...

Since I started my career as a hedge fund manager, I’ve had countless investor meetings. Initially, most of the meetings were with...

Before answering this question, we need to consider why it is important. Headline performance if a function of return volatility. Without...

Following Didi’s IPO in late June, regulatory risks in China have attracted a lot of attention. Almost immediately after the IPO, the...

The last several years have been characterised by low consumer price inflation, which has resulted in ultra-easy monetary policy...

Breadth is a very important concept in quant factor investing. The Fundamental Law of Active Management states that risk-adjusted...

Central banks, especially the Fed, always influence financial markets. Recently, they have been distorting financial markets. ...

A tug of war is taking place between value and growth. Up until the start of this year, the winner was growth with the contest turning...

OQFM calculates market earnings multiples based on the inverse of aggregate stock earnings yields. The PE ratio is a flawed valuation...

In this research note I will focus on several Chinese stocks which are unjustifiably cheap (Table 1). (Note: OQFM uses more sophisticated...

The BOJ announced in March that it would abandon its ¥6tn ($55bn) annual target for exchange traded fund purchases and cease buying ETFs...

Increasing bond yields were a key driver (and symptom) of risk sentiment in March. The 10 Year Treasury Yield – which attracted a lot of...

When I first started to take a strong interest in the stock market in the mid-1980s, Japanese equities were the star performers. This...

In March, Archegos Capital Management, a family office based in the United States, defaulted on margin calls from several investment...

In late February, the HK Government announced that stamp duty on buys and sells on the HK Exchange will increase from 10 basis points to...

In late January, there was an extremely concerning development that captured the attention of people who wouldn’t normally be interested...

In January, Donal Trump imposed sanctions on several Chinese stocks on the grounds that they have links to the Chinese Military. This...