Factor Investor

Timely investment themes informed by deep historical research

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Why Do Markets Go Up?

February 19, 2019 by Ehren Stanhope

Stock markets are the greatest compounders of wealth the world has ever seen. Sadly, most introductory investment courses and literature do not begin with an explanation as to why markets go up. It’s such a fundamental question, but it is often overlooked.

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February 19, 2019 /Ehren Stanhope
stocks, economy

A Factor Investor’s Perspective of the Economic Cycle

June 02, 2016 by Ehren Stanhope

Does the economic cycle have any bearing on investment success? Macro investment houses have constructed intricate frameworks to understand the “economic machine,” but economic data are notoriously prone to revisions, lags, and adjustments in measurement through time—none of which are suitable for timely and reliable investment signals. Certain fundamental characteristics—not economic variables—drive stock returns. This piece identifies investment themes that deliver persistent outperformance in multiple different economic environments.

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June 02, 2016 /Ehren Stanhope
economy, recessions, stocks

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