Comparing the Small & Mid Cap Valuation Tails – Low Dispersion, Reduced Opportunities & Fundamental Fixes
Introduction Cheapest vs. Most Expensive Deciles Fundamental Consternation & Consideration Using Our Core Model to Expand the Opportunity Set Summary Tables Conclusions Exhibits Introduction In our first paper published ...
Bubble Trouble? – Comparing the Current Markets to 1999 and 2007
Introduction Quantification of Overall SMID and Large Cap Market Metrics Summary Charts Conclusion: The Sun Micro Sanity Check Appendix Introduction Many clients have asked us for our perspective on ...
Comparing the Large Cap Valuation Tails – Low Dispersion, Reduced Opportunities & Fundamental Fixes
Introduction Cheapest vs. Most Expensive Deciles Fundamental Consternation & Consideration Using our Core Products to Expand the Opportunity Set Summary Tables Conclusions Exhibits Note to readers: This paper is ...
Correlation, Contagion & the Quant Crash – Fundamentally Driven Process vs. Pattern Recognition
Introduction Building a Synthetic Quant Fund, By Khandani & Lo The August 2007 “Quant Crash” Kailash Product Performance in Quant’s Darker Days: Lower Volatility & Leverage Post-Crash Performance Conclusion: ...
Turbulent Times – The (Tentatively) Temporary Inversion of Value Creation
We have read numerous press articles discussing the difficulties faced by several successful hedge funds
The Dividend Deception Part III – The Role of Dividend Growth in Equity Returns
Click here to download the Premium PDF Click here to download the Basic PDF Introduction Dissecting Dividend Payers Ranking Models Pick Winners Conclusions Exhibit ...
The Dividend Deception Part II – A Call for Active Management
In our last paper, The Dividend Deception: Understanding the Consequences of Cash Returns, we analyzed the highest dividend paying stocks in great detail.....
The Dividend Deception – Understanding the Consequences of Cash Returns
A client recently requested an update on how Low Volatility shares had fared since our November 2012 publication and asked if we thought high dividend paying firms offered investors a better place for risk averse investors to hide....
The Sphinx Guarding Technology Returns – The Complex Role of Valuation within IT
Introduction: Customer Complaint Department Cross Sectional Analysis: Valuation &
Proper Peers – A Process-Driven Approach to Selecting Comps
A Kailash Confession The (Possibly Black) Art of Peer Selection Regressions & Results An Enterprising Concept Single Stock Examples Appendix I: Regression Variables Grounded in Valuation Theory Appendix II: ...
Earnings Management: Identifying Accounting and Earnings Manipulators
The Accruals Anomaly A Fundamental Framework The Terrible 23 Toolbox Teacher Appendix “The results indicate that earnings performance attributable to the accrual component of earnings exhibits lower persistence than ...
The Defense Dilemma – Downside Protection for the Value Oriented
Introduction: Where’s a Bear to Hide A Simple Solution Too Much on the Table – The Core Correction Conclusion: Defensive Model Debut Appendix: Avoiding Intuition Introduction: Where’s a Bear ...