Comments
Transcript
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MHFantastic interview “RVrockstar”
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ETTony Greer's look reminds me of Tony Stark. Great interview, thanks
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MCThis was a great interview. Loved it. Thanks guys.
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WHThat guitar riff makes me want to inhale whiskey with Daniel Plainview
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RMTo start, great interview. Very much enjoyed. Loved hearing about his process. Curious on the fund's performance. In just a quick review on Morningstar, looks like funds generally underperform indexes. QMOM, the US mid-cap momentum fund, pretty much tracks the SP500 index until June 15 of 2020 when it took off and greatly outperformed (which says a lot about market action since this summer). Same fund tracked the Vanguard Mid-Cap 400 until the trough of 2020 and then greatly outperforms over 2020. The value fund consistently underperforms the Vanguard Mid-Cap 400 value fund. If you compare all the AA funds to the SP500 and Russell 2000 (understanding his funds are mid-cap), all under perform SP500, up a little over Russell 2000, and only the US momentum fund outperforms with all that performance coming over the last 7 months. So my takeaway, maybe the Buffett "after I die" model works best with 90% SPY and 10% cash. Still don't have to think about your trades, you keep it simple, save on fees, and earn the same returns outside of momentum in the last 7 months.
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ALThat info on the 1031 exchange into an ETF was the most useful take away for me. I thought that was just a real estate thing.
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KAYou want dirtball, max hate stocks? Look in shipping markets and maritime economies ;)
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TTTony is terrific as an interviewer. Well done.
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ICThank you Tony! Another great interview to suggest everyone to trade correctly; Wes says "... essentially we wanna eliminate my monkey brain from screwing anything up and that is just an ethos that I have learned the hard way via a lot of scars on my back.."
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PGGreat stuff - picked up Wes' book Quantitative Value some years ago!
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TRtotally agree on comments around momentum, the lack of liquidity in crypto + leverage is a momentum trader's wet dream
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ACVery enjoyable to listen to, flows well on both sides.
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NSAmazing interview!
Chapters
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Professional Background
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Alpha Architect Mission
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Systematic Decision Making
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Is Value Investing Dead?
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Evidence-Based Investing
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High-Conviction Value and Momentum Factor Exposures
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Breaking Down the Asset Management Business
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How Military Background Influences Investing Strategy
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Allocating More Capital
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Becoming the Shopify of ETFs
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Assessing Economic Forecasting
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Future of Quantitative Trading
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Impact of GameStop on Market Landscape
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Investor Psychology