If a simple design works, ample evidence suggests investors benefit by choosing simplicity.
Most investors might benefit from simply forgetting the ID and password to their trading account.
Regulation and intervention only works when policymakers are at least as adept as market participants.
Information about factor exposures is insufficient for guiding allocation decisions.
The average trigger-happy value investor may be funding the value premium.
Will ‘smart beta’ shake up the business-as-usual world of investment management?
We’ll gladly bet a simple blend of market, value, low beta and momentum exposures against anyone’s optimized 81-factor portfolio.