Ten Investment Insights that Matter
Bruce I. Jacobs and Kenneth N. Levy
The Journal of Portfolio Management Special 40th Anniversary Issue 2014, 40 (5) 60-67; DOI: https://doi.org/10.3905/jpm.2014.40.5.060
Bruce I. Jacobs
is a principal of Jacobs Levy Equity Management in Florham Park, NJ.
Kenneth N. Levy
is a principal of Jacobs Levy Equity Management in Florham Park, NJ.
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In this issue
The Journal of Portfolio Management
Vol. 40, Issue 5
Special 40th Anniversary Issue 2014
Ten Investment Insights that Matter
Bruce I. Jacobs, Kenneth N. Levy
The Journal of Portfolio Management Sep 2014, 40 (5) 60-67; DOI: 10.3905/jpm.2014.40.5.060
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- Article
- Abstract
- THE STOCK MARKET IS A COMPLEX SYSTEM
- MARKET COMPLEXITY CAN BE EXPLOITED WITH A RICH, MULTIDIMENSIONAL MODEL
- RETURN-PREDICTOR RELATIONSHIPS SHOULD BE DISENTANGLED
- AN INVESTMENT FIRM SHOULD ABIDE BY THE LAW OF ONE ALPHA
- THE INVESTMENT PROCESS SHOULD BE DYNAMIC AND TRANSPARENT
- A CUSTOMIZED, INTEGRATED INVESTMENT PROCESS PRESERVES INSIGHTS
- INTEGRATED LONG-SHORT OPTIMIZATION CAN PROVIDE ENHANCED RETURNS AND RISK CONTROL FOR MARKET-NEUTRAL AND 130-30 PORTFOLIOS
- ALPHA FROM SECURITY SELECTION CAN BE TRANSPORTED TO ANY ASSET CLASS
- PORTFOLIO OPTIMIZATION SHOULD TAKE INTO ACCOUNT AN INVESTOR’S AVERSION TO LEVERAGE
- BEWARE OF RISK SHIFTING, FREE LUNCHES, AND IRRATIONAL MARKETS
- CONCLUSION
- ENDNOTES
- REFERENCES
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