FYI: My chat with the inimitable Rob Arnott, founder and chairman of Research Affiliates. We discuss six of what I consider to be Rob’s best research papers. They are:
Surprise! Higher Dividends = Higher Earnings Growth
What Risk Premium is ‘Normal’?
Clairvoyant Discount Rates
How Can ‘Smart Beta’ Go Horribly Wrong?
Timing ‘Smart Beta’ Strategies? Of Course! Buy Low, Sell High!
Is Your Alpha Big Enough to Cover its Taxes?
Our chat includes Rob’s response to the criticisms that AQR founder Cliff Asness had on his factor timing paper. He makes the case you certainly can time factors and that to sell out of value now, while it is the only factor that is cheap, seems not the best thing to do.
Regards,
Ted
https://marketfox.org/2018/12/17/i3-insights-podcast-ep-17-rob-arnott/
