• In his most recent missive, “Investing Without People”, Oaktree’s Howard Marks takes on the subject of quantitative investing, albeit with “trepidation,” because it’s something he admits he is just learning about. We always look forward to reading Mr. Marks’ memos, as they are packed with valuable insights from an unquestionably venerable career. I for one owe him thanks for the investing knowledge he has imparted to me over the years; I’m certain I’m the better for it.

    But in this case, the questions/objections that he poses are all too familiar, and in my opinion, exhibit faulty logic. Let’s examine some of the major points.

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  • For the next month, the global financial markets will take a back seat while many American trading desk monitors test their green hues. Knowing where adjusted interests will be focused, we have decided to join along with our own World Cup Challenge. If you entered and win, you will receive a team jersey of your choice (and if you haven’t seen it, the Nigerian jersey is hot). While I won’t be able to win a jersey, I picked my own winners. Here is how I decided them…

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  • 8 Books for Your Summer Reading List

    June 07, 2018
    361 Team
    Business Development

    Summer is upon us, and with that, many of us will be hitting the out of office button for a mid-year break. Whether you are heading to the beach with your family or having a stay-cation, it’s a good time to do some summer reading. So, we asked our 361 team for some recommendations to add to your shopping cart.

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  • Revisiting Revision Ratios

    May 31, 2018
    Behavioral Economics, Small Caps

    In January, we discussed how analyst sentiment was at a six-year high as of the end of 2017. Here, we take a look at the small cap universe and see if that feeling has endured, or if analysts have reined in their expectations.

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  • Correlations, Data Frequencies & Expectations

    May 23, 2018
    Correlation, Return Expectations

    With the return of volatility this year, we’ve noticed that investors, journalists, and fund rating services immediately put alternative funds under the microscope to determine if they lived up to expectations. I recently wrote an article for Investment Advisor’s May issue discussing how many quickly concluded—incorrectly I might add—that alternative funds failed. This was a result of confusing low correlation with negative correlation, and by conditioning on risk statistics calculated with monthly returns.

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