I emphasize a nuanced approach to valuations, recommending different Owner's Yields based on expected revenue growth rates, rather than a flat 4% threshold. For example, companies with 10% revenue ...

Research dating back to 1972 has persistently found that low-volatility (or low beta) stocks have systematically provided higher risk-adjusted returns than high-risk stocks. Today, many leading equity ...

We build a class of copula models that captures time-varying dependence across large panels of financial assets. Our models nest Gaussian, Student's t, grouped Student's t, and generalized hyperbolic ...