Factor Returns: August 2018 (Source: Resonant)
- Quality factors unanimously did well – Earnings Risk, Management, Earnings Quality,
Profitability & Balance Sheet.
- Growth & Momentum investors performed strongly.
- Revisions & Operating Leverage Performed Poorly: Analysts were progressively getting more
upbeat on the wrong stocks over reporting season.
- Speculative and small caps did poorly. Speculative stocks typically have investors with a
shorter investment horizon.
- Value investing performed very poorly.
- Low Volatility was sold off horribly.
Resonant Asset Management Pty Ltd, ABN 41 619 513 076, trading as Resonant, AFSL No 511759.
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