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Smart beta = Dumb beta + Smart Marketing?

Smart beta = Dumb beta + Smart Marketing?

20-04-2016 | From the field
  • David Blitz
    David
    Blitz
    Head of Quant Research

In his witty style, James Montier takes a critical look at recently popular investment concepts such as smart beta, risk parity and real assets*. We actually agree a lot with what he is saying. For instance, we agree that smart beta is merely providing exposure to classic factor premiums. That is what we have been saying all along.

Moreover, we also agree that it is important to never ignore the price you actually pay for a security. That is why we have included valuation factors in our low-volatility and momentum factor products from the outset. We recommend Montier’s piece as a sobering and entertaining read!

Blijf op de hoogte van kwantitatieve inzichten
Blijf op de hoogte van kwantitatieve inzichten
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From the field
From the field

Onze onderzoekers publiceren veel whitepapers die zijn gebaseerd op hun eigen empirische onderzoek, maar ze kijken ook naar kwantitatief onderzoek dat door anderen is gedaan. David Blitz, hoofd Quant Equities Research, vertelt over opvallende externe papers.

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