This past quarter (Q3 2018), the S&P 500 returned its best performing quarter since Q4 2013 with a 7.7% return. Large cap stocks were the clear winners as investors sought the relative safety of higher cap stocks. The Dow did even better at 9.63%. Reinforcing investors’ flight to quality, the S&P 500 Quality Factor returned […]
Moneyball for Hedge Funds If you’ve followed us for any amount of time, you ’know that our Clone Score methodology is at the heart of our manager selection process. The best analogy for our process to think about a manager’s score like it was a “batting average” where every stock the manager selects is an “at […]
The S&P 500 has returned 10% annualized over the five years ended 6/30/2018 (13% if you include dividends). Those are great returns especially when you put them into context. The number of 5-year investment windows between 12/1949 and 6/2018 that returned an average of 10% annualized or more is 290 out of a total of […]
It’s been easy to argue against active management lately, too many funds to choose from, most of them underperform. In an environment where the S&P 500 has returned 15% annually over the past five years (double its historical average), it’s no surprise investors are fleeing active funds for passive ETFs. In that sense, investors […]
We take a definitive look at hedge fund holding periods. We analyze holding periods for all Form 13F disclosed securities as well as for those held with high conviction. We also look at whether the length of a manager’s holding period is predictive in any way to the efficacy of following their holdings.
The very nature of making investment decisions is difficult – an investor can only evaluate an investment based on historical returns and/or credibility. Yet both of these attributes are poor predictors of what the investor is actually paying for – future performance. Combine this with the fact that there are nearly 30,000 investment products to […]
It might not have been obvious, but you're now leaving the AlphaClone.com site and going to the AlphaCloneETFs.com site, which provides more information on our ETF products. The government really wanted us to tell you that.Got it