The Importance of Portfolio Management I’ve had a successful run as a retail investor, with an eight-year CAGR of 44%. I attribute my success to…
Note: The M Score is used to identify companies that are engaged in manipulating their financials. I am using pseudonyms in this article and changing…
2022 was an excellent year for me. OK, I didn’t make as much from my investments as I did in 2020 or 2021—who did?—but a…
I recently performed a study of over fifty different value factors to see which performed the best. (Admittedly, a lot of them are similar.) The…
When we trade individual stocks, we incur transaction costs. The purpose of this article is to explain these costs, quantify them, and help you avoid…
Did you know that European stocks are easier to profitably trade than North American ones? That seems counterintuitive, doesn’t it? Information about them seems hard…
When I invest in a company, I try to look at it from every angle I can. But obviously, some angles are more important than…
This is the fourth and last article in a series: here is the first (on factor design); here is the second (on designing ranking systems);…
How to Design a Fundamentals-Based Strategy that Really Works, Part Three: Principles of Backtesting
This is the third article in a series; here is the first (on factor design) and here is the second (on designing ranking systems). I’ve…
This is the second article in a series; here is the first. I’ve been using a fundamentals- and ranking-based strategy for stock picking since 2015,…