Annualized Excess Returns
Aug
23
2021
Can Mo Outrun A Bear?
Hiker #1: Can you run faster than that hungry bear looking at us?
Hiker #2: I don’t need to run faster than the bear, I just need to run faster than you.
The Momentum style of investing has a long history of generating excess returns, and ranks near the top of the list of essential smart beta factors. However, Momentum also has a dark side; it is prone to severe drawdowns whenever the market makes a significant reversal.
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