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I got introduced to Technical Analysis by way of an accident during the time of the Dot Com bubble and I fell in love with it. I loved it for both the simplicity and the fact that the answers were binary in nature with very little between. Pure Technical Analysis though is as discretionary as with any other strategy. Buy...
In Momentum strategies, one of the ways to reduce churn is to implement a worst rank held strategy. Let’s assume that the strategy picks the top 30 stocks. In the coming month if one of the stocks that is currently part of the portfolio (previous month being ranked in the top 30) is now ranked 31? Should you remove the...
It’s that time of the year when you start finding analysts coming up with the Top stocks to buy. Basically there are three ways in which such lists are prepared – search for the best stocks of this year and recommend the same for the next year in anticipation of continuation of Momentum. Search for the worst stocks and recommend...
Factor Investing hasn’t made much inroads in the Indian financial markets even though we keep talking about Value, Quality and some times Momentum. Along with Volatility and Size, the key styles of factors among the many are all the rage in the United States with assets under management exceeding 900 Billion Dollars. 2017 was a year when Size factor was...
“When the student is ready the teacher will appear. When the student is truly ready… The teacher will Disappear.”― Tao Te Ching 2017 in hindsight was a fantastic year for the change in scenery from Bangalore Stock Exchange where I had spent a better part of my time since I came into the market made way for time at...
With Momentum as a investing strategy gaining more followers, one of the common threads in all discussions I see is that they are described as inherently more risky – more risky than what I wonder. Equities itself is Risky – if you aren’t willing to bear the cost of temporary loss, maybe this isn’t a asset class you should be...
For a long time, I was a drifter when it came to investing philosophy. Value today, Quality tomorrow and Momentum the third day. The disadvantage of being a drifter is that one never is able to convince himself that when the chips are down, the strategy is still as valid today as it was yesterday. Out goes the baby with...
Portfolio Yoga
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