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It Was You, Charley - Epsilon Theory
But the only advice that is worse than advice ignored is advice accepted and betrayed halfway through to completion.

For Many, Don’t: This is going to be unpopular. Because value returns in a Three-Body Market are likely to be even more episodic than usual, trying to time them is exceedingly risky. Because trying to time it doesn’t work, value is a strategy best implemented as a static tilt. Because it is best implemented as a static tilt, investors who are committed to it must be able to endure not only the usual potential drawdowns, but potentially deeper and more persistent ones that will try their and their clients’ endurance. Despite the fact that value absolutely works, many of us and many of our institutional and individual clients should probably be at market weight on value vs. growth. If we know we’re not up for the game, it’s better not to play.
finance  investment 
2 days ago by yevgenyd

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