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Factor Research

It’s Not You, It’s Your Fundamentals

This paper examines the relationship between price and business momentum and considers how combining the two can provide a more comprehensive view of momentum and support the construction of stronger, more adaptable portfolios.

Buy High, Sell Higher

How important is price level in momentum investing? In this study, we evaluate the relationship between different measures of a stock’s proximity to its 52-week high and traditional price momentum.

The Power of Many – Revisited

This paper is an extension of our recent research paper that analyzed how portfolio breadth influences the performance, consistency, and risk profile of momentum strategies (see The Power of Many - How Portfolio Breadth Shapes Momentum Outcomes). In this latest study, we test how the number of holdings affects outcomes of three additional style factor strategies: Value, Growth, and Quality.

Insights

Worst Month For Momentum On Record

July compressed a historically severe amount of relative underperformance for momentum into a single month. Where do we go from here?

July’s Momentum Pullback

If July were to end here, this would rank as momentum's worst month since the sharp reversals of 2009 and 2000.

The Useful Idiot

Reflections from our investment team on markets, momentum and mindset.

Rising Tides

Rising Tides: The K-Beauty Boom Goes Beyond the Brand

Observations from the IMC Research Process - K-beauty’s breakout brands get the attention. But the manufacturers developing, producing, and scaling their products may offer the more durable opportunity.

Rising Tides: The AI Payoff is Arriving

Observations from the IMC Research Process - The next phase of AI is less about what companies spend, and more about what they get back.

Commentary

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