We are proud to announce that Nathan Faber and Andrew Gogerty – both members of Newfound Research's Investment Strategies team – placed 2nd and 3rd, respectively, in the 2015 National Association of Active Investment Managers (NAAIM) Wagner Award Competition.The NAAIM Wagner Award is

Special Announcement Newfound’s first quarter commentary is now available on our website and can be accessed here. Market Thoughts Those familiar with our Risk Managed Sector series (U.S. large-cap, U.S. small-cap, and global large-cap) know that we utilize an equal-weighting methodology among the

In a prior blog post, I wrote about a simple formula that can be utilized to understand the impact that rising rates may have upon a constant maturity fixed-income index. Emanuel Derman wrote a similar post about constant duration indices. While most people are aware of duration and how to use it to

In a prior post, I waxed philosophical about the importance of remaining skeptical of the assumptions that underlie portfolio construction. Another commonly accepted assumption is that rebalancing is a value-add activity. The underlying theory here is that assets tend to mean-revert over time, so by

In the Credit Suisse Global Investment Returns Yearbook 2015, there is a section dedicated to industry group analysis. Beyond an interesting history lesson about the rise and fall of certain industries, the piece demonstrated the strength of both momentum- and value-based investing when it came to

The term "black swan" has become synonymous with "rare event" – but the original concept proposed by Nassim Taleb was a bit more nuanced. The term came from the latin phrase "rara avis in terris nigroque simillima cygno": a rare bird in the lands and very much like a

A frequent point of conversation that we have at Newfound – both internally and with advisors – is the role of volatility as a measure of risk. On the one hand, from a statistical point of view, higher volatility implies a greater potential magnitude of loss. On the other hand, investors are