There is no shortage of systematic distortion in the market as we kick off Q4 2021 earnings season. As we have in the past, we will highlight the most crowded stocks from both a long and short perspective as earnings calls begin. Crowded stocks can exhibit exacerbated pricing pressure when material information reaches the market. In addition, earnings releases can increase price volatility,...
Identifying Crowded Names - Q3 2021 Earnings Season
October 17, 2021Crowding continues to be a popular topic of conversation among investors. Crowded stocks can exhibit exacerbated pricing pressure when material information reaches the market. In addition, earnings releases can increase price volatility, making earnings a strong catalyst for crowded names.
The Return of Alpha
August 08, 2021From the onset of the COVID pandemic through much of the year 2020, we saw the deterioration of alpha-driven stocks as common, systematic factors dictated performance. So this week, we’ll revisit a question we last posed at the beginning of the year: “Where’s the Alpha?”. Have opportunities for idiosyncratic, stock-specific outperformance returned? If so, where can we look to find it?
Identifying Crowded Names - Q2 2021 Earnings Season
August 01, 2021Before we dive into this week's topic on crowding, I wanted to let you know that a recording of our joint webinar with Qontigo: Macro Matters, Even for Fundamental Managers is now available to view on our website in case you missed the live webinar. We hope that you enjoy it.
Identifying Crowded Names — Q2 2021 Earnings Season
April 18, 2021This week we revisit a popular Factor Spotlight topic as we head into the thick of Q2 2021 earnings season. With a market bracing for a procession of earnings announcements, we will explore the various forms of crowding measures to better understand what names are most vulnerable to systematic pressures stemming from concentrated holdings across the investment management landscape. Before we dive...
