Dennis R. Capozza and Ryan Israelsen hypothesize that in markets where information costs, transactions costs and the economic impact of information can vary widely, we should expect both significant predictability and systematic variation in the predictability.
White Paper: How Quickly do Equity Prices Converge to Intrinsic Value?
Institutional Investor features Applied Finance – How a Small Manager Won a Huge Pension
Employing a strategy that is a little different from many of its peers, the value investor secured a mandate from GPIF — the world’s largest pension — in October, following a due diligence process that started that summer. Value has been underperforming since the global financial crisis, but started to come back in 2021. […more]