On Balance
As regular readers know, we like a sports analogy and so let’s think about horse racing for a moment. As a person who goes racing twice a a year for a good day out, I don’t follow racing like I follow other sports. I don’t research the race card before attending and yet I place […]
Constructing a successful investment portfolio requires not only a consistent measure of current values and forecast expected returns across the investible universe but also a clear understanding of what are the causal drivers of these expected return factors. At Libra we offer clients access to this proprietary content via the Apollo EDGE platform but we have also created our own Smart Alpha Strategy which is also available on request.
One of the most significant investment developments of recent years has been the emergence of factor-based investing as a mainstay of investment management.
Yet again, the financial industry has had to start the year on the back foot. As lists of dramatic fund level underperformances circulate in the media, the explanations, rationalisations and justifications for failure are being delivered via fund reports and year ahead presentations.
Libra Investment Services has spent the last twelve years operating as a research and advisory business to equity market investors worldwide. At the heart of our approach is the idea that equity markets are not a complicated problem to simplify and solve but instead are an open, complex adaptive system to be analysed and understood as much as we can; regardless of their current state of uncertainty or unpredictability.