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8 results found.

Factor Timing: Keep It Simple
by Michael Aked of Research Affiliates, 4/22/21

Factor timing is the ability to add value to an investment strategy by altering the exposure to various factors through time.

Public Policy, Profits, and Populism
by Chris Brightman Jonathan Treussard Michael Aked of Research Affiliates, 6/1/17

The Trump bump reveals market expectations of continuing public policies prioritizing stability, inhibiting creative destruction, depressing yields and wage growth, and inflating a profits bubble. If instead, the Administration delivers reforms that allow creative destruction, invigorate growth and raise returns to capital and wages, then the lofty profits of corporate incumbents will be at risk.

Quest for the Holy Grail: The Fair Value of the Equity Market
by Michele Mazzoleni Omid Shakernia Michael Aked of Research Affiliates, 3/24/17

Macroeconomic volatility is a useful tool for contrarian investors who are seeking fair value in an equity market characterized by continually rising valuations.

Record Low Costs to Trade!
by Michael Aked Jim Masturzo of Research Affiliates, 11/5/16

Mean reversion is as applicable to trading costs as it is to valuation. Today’s costs to trade are at 56-year historical lows; they are due to rise soon. Now is the time to position your portfolio ahead of expected higher costs to trade and lower equity prices.

Next Season's Meager Harvest in Commercial Real Estate
by Michael Aked, Jim Masturzo of Research Affiliates, 8/28/16
The dog days of summer are here. The garden is ripe with the tomatoes, cucumbers, and peppers we have dutifully tended. The summer season is truly a time of gastronomical delight, tempting us to try to extend the period of harvest. Should we leave the fruits longer on the vine? Should we plant more seeds? No.

When a Storm Is in the Offing: Fundamental Growth in the U.S. Equity Market
by Michael Aked, Michele Mazzoleni, Omid Shakernia of Research Affiliates, 7/1/16
Forecasting the weather or stock prices is a mostly mundane matter, but the unforeseen can exact a heavy toll. For investors, economic data improve the precision of market forecasts.

The Dirty Little Secret of Passive Investing
by Michael Aked of Research Affiliates, 5/25/16
Passive investments have a dirty little secret: Their gross returns are materially depressed by implicit implementation costs. You don’t see these costs in performance attributions, unbundled management fees, or even standard trading cost analyses.

From Brutish to a Brouhaha: Shifting Winds and the Demographic Payback
by Michael Aked of Research Affiliates, 12/4/15
Continued pension reform inaction combined with a falling worker-to-retiree support ratio is leading to an inevitable economic and social clash between employees, employers, and their governments.
8 results found.