Below is a weekly summary of our research findings for 9/8/20 through 9/11/20. These summaries give you a quick snapshot of our content the past week so that you can quickly decide what’s relevant to your investing needs.
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- Allocations and Returns of Endowments
Evidence from U.S. non-profit endowments funds suggests that investors should be skeptical about emulating their strategies. - When Institutional Investors Seek Safety
Evidence suggests that stocks with high institutional ownership fare worse during a crash, and most institutions shift toward low-debt/high-cash firms during a crash. - SACEMS with Three Copies of Cash
Evidence from simple tests on available data offers very little support for belief that adding copies of Cash to SACEMS (ensuring that no holdings have negative momentum) meaningfully helps or hurts EW Top 2 or EW Top 3 performances. - Stock Market and the National Election Cycle
Evidence suggests both long-term and short-term connections between the U.S. national election cycle and U.S. stock market performance, with: (1) presidential term year 3 the best by far; (2) mid-term congressional elections pivotal; and, (3) a tendency for a brief pre-election rally.
