This is a summary of links featured on Quantocracy on Tuesday, 12/07/2021. To see our most recent links, visit the Quant Mashup. Read on readers!
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US Market Valuations: Looking down the Abyss! [Nava Capital]Value investing is at its core the marriage of a contrarian streak and a calculator. S. Klarman The first principle is that you must not fool yourself, and you are the easier person to fool. R. Feynman In this brief note, our goal is to show readers, as objectively as possible, the current discrepancy between the intrinsic and the current value of the S&P 500. Our conclusion is
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Stock Market Returns and Volatility [Factor Research]Average stock market returns are similar regardless if volatility was high or low However, given skewed returns, it was not attractive investing when volatility was high Unfortunately implementing a strategy to avoid high volatility periods is emotionally challenging INTRODUCTION Active fund managers frequently complain about stock market volatility being too low for their taste and articulate a