Research
Notes from the lab.
Methodology, paper reviews, regime commentary, and multi-strategy framing — written for practitioners and discussed at the level of the underlying signal.
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- Factor investing · Risk premia · Portfolio construction · Systematic strategies
Traditional and Alternative Risk Premia: What You're Really Paid For
Most investment returns are payment for bearing risk others avoid — or for exploiting mistakes they repeat. This guide maps traditional and alternative risk premia, the crucial line between true premia and market anomalies, and what it means for building a genuinely diversified portfolio.
8 min read - Factor investing · Momentum · Systematic strategies · Risk
Momentum Investing: Why Past Winners Keep Winning
Momentum — the tendency for past winners to keep winning — is finance's most pervasive anomaly. Three decades of evidence show why it persists across every asset class, the crash risk it carries, and why risk management is what makes it investable.
7 min read