Momentum

“So if you look at the factor returns to value versus the factor returns momentum, they're about as divergent as they've been since the tech bubble.”

“We think there are some sustainable factors that add value, like valuation and momentum and quality. Size is a little more questionable, in our opinion, but we're still looking at factors all the time.”

“In our research, luckily, those categories are honestly straightforward and simple. They're things like valuation, things like momentum, quality, return of capital. They're not crazy concepts. You just have to apply them with a lot of discipline, and I think t…”

“So unless you really buy into these concepts at a deep level and are willing to stick with them through cycles, I think you probably shouldn't apply them at all. You shouldn't apply momentum into a one off trade. You should apply it in the right way systematic…”

“As markets started to recover post the first quarter, there was a ton of momentum, and we didn't settle into that momentum. If anything, we added into it, whereas I think a mistake some investors would make is taking their ball and going home at that moment in…”

“The momentum stuff, I am convinced there's no risk story for, and that is an underreaction bias where people just refuse to process information, which disconfirms their previous news, whether you're long or short.”

“Really momentum is maybe more important, certainly more important than size and maybe more important than value.”

“Over the last 3040 years, whether in this country and across the globe with one or two exceptions, momentum has worked. Over the long term.”

“For example, you know, in January, momentum, the factor crashed, and a lot of quants did badly. Numeri is neutral to momentum, so we basically didn't even notice this crash because we're hedged to that risk, and we do that with as many things as possible to ma…”