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 · 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 - Portfolio construction · Risk · Volatility · Systematic strategies
Volatility Scaling: Keeping Portfolio Risk on Target
Volatility scaling keeps a multi-asset portfolio inside a fixed risk band by levering up in calm markets and cutting exposure in stress. A decade of evidence shows where it adds value — and the V-shaped-recovery cost every investor should understand.
6 min read