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Investing for the long run

Investing for the long run

30-09-2015 | From the field

Ang and Kjaer argue in a paper* that pro-cyclical behavior and misalignments between asset owners and managers negate the long horizon advantages of long-term investors.

  • David Blitz
    David
    Blitz
    Head of Quant Research

Their recommendations are to (i) institutionalize contrarian behavior, (ii) build a robust factor portfolio to harvest many sources of factor risk premiums, (iii) create close alignment between asset owners and managers, and (iv) demand sufficient risk premiums for illiquid investments. We generally agree with these recommendations, but many questions still need to be answered before this theory can be put into practice. Robeco has a lot of expertise in this area and can assist clients throughout that process.

Manténgase al día de las últimas perspectivas sobre inversión cuantitativa
Manténgase al día de las últimas perspectivas sobre inversión cuantitativa
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From the field
From the field

Nuestros investigadores publican multitud de informes basados en sus propios estudios empíricos; también siguen los análisis cuantitativos que hacen los demás. Comentarios de nuestro responsable de análisis cuantitativo para renta variable, David Blitz, sobre publicaciones externas de gran relevancia.

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