Crypto owners know Crypto…but not finance
Alpha Architect Blog
by Elisabetta Basilico, PhD, CFA
3d ago
We find that a significant share of Canadian Bitcoin owners have low crypto knowledge and low financial literacy. We also find gender differences in crypto literacy among Bitcoin owners, with female owners scoring lower in Bitcoin knowledge than male owners. Crypto owners know Crypto…but not finance was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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Explaining the Performance of Low-Priced Stocks: The Penny Stock Anomaly
Alpha Architect Blog
by Larry Swedroe
5d ago
An efficient way to improve the expected performance of an equity strategy would be to systematically exclude penny stocks, as well with high asset growth and extreme past returns, especially if they have low profitability (and exclude funds that don’t screen out such stocks). Explaining the Performance of Low-Priced Stocks: The Penny Stock Anomaly was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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Global Factor Performance: July 2024
Alpha Architect Blog
by Wesley Gray, PhD
1w ago
The following factor performance modules have been updated on our Index website.[ref]free access for financial professionals[/ref] Factor Performance Factor Premiums Factor Data Downloads Global Factor Performance: July 2024 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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Overconfidence May Lead to Poor Emergency Planning
Alpha Architect Blog
by Tommi Johnsen, PhD
1w ago
How does the perception of the need to hold emergency cash relate to overconfidence in one's degree of financial literacy? The answer is surprising. Overconfidence May Lead to Poor Emergency Planning was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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Polluters Provide Higher Returns than Non-Polluters
Alpha Architect Blog
by Larry Swedroe
1w ago
Atilgan, Demirtas, and Gunaydin found that there has been a pollution premium for US stocks and that the premium translated into superior investment performance. Polluters Provide Higher Returns than Non-Polluters was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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How do macroeconomic announcements impact household spending?
Alpha Architect Blog
by Elisabetta Basilico, PhD, CFA
2w ago
What are the primary factors contributing to the steep and persistent decline in U.S. consumption growth during the Great Financial Crisis of 2008-2009? How do macroeconomic announcements impact household spending? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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U.S. Companies Have Outperformed Japanese Companies, or Have They?
Alpha Architect Blog
by Larry Swedroe
2w ago
While both the S&P 500 and the Nikkei indices have recently hit all-time highs, the valuation and balance sheet data we have reviewed indicate that the downside risks in Japanese stocks appear to be far less than the risks in U.S. stocks. Evidence such as this helps explain why legendary investor Warren Buffett has been buying Japanese stocks. U.S. Companies Have Outperformed Japanese Companies, or Have They? was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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Smart rebalancing for factor strategies
Alpha Architect Blog
by Tommi Johnsen, PhD
3w ago
Trading costs, discontinuous trading, missed trades, and other frictions, along with asset management fees can cause a shortfall between live and paper portfolios. The focus of this paper is to test an effective rebalancing method that prioritizes trades with the strongest signals to capture more of the factor premia while reducing turnover and trading costs. Smart rebalancing for factor strategies was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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When Shorts Don’t Short
Alpha Architect Blog
by Larry Swedroe
3w ago
Low short positions come from positive public news, while negative news can drive average short or extremely high short positions When Shorts Don’t Short was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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How to Track Retail Investor Activity in TAQ
Alpha Architect Blog
by Elisabetta Basilico, PhD, CFA
1M ago
This paper explores the effectiveness of the BJZZ algorithm, developed by Boehmer, Jones, Zhang, and Zhang (2021), in identifying and signing retail trades executed off exchanges with subpenny price improvements. How to Track Retail Investor Activity in TAQ was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience ..read more
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