One of the most significant investment developments of recent years has been the emergence of factor-based investing as a mainstay of investment management.
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One of the most significant investment developments of recent years has been the emergence of factor-based investing as a mainstay of investment management.
Yet again, the financial industry has had to start the year on the back foot. As lists of dramatic fund level underperformances circulate in the media, the explanations, rationalisations and justifications for failure are being delivered via fund reports and year ahead presentations.
Libra Investment Services has spent the last twelve years operating as a research and advisory business to equity market investors worldwide. At the heart of our approach is the idea that equity markets are not a complicated problem to simplify and solve but instead are an open, complex adaptive system to be analysed and understood as much as we can; regardless of their current state of uncertainty or unpredictability.