Contrarian timing can add value by emphasizing factors or strategies that are trading at a discount relative to their historical valuations and deemphasizing the more expensive factors or strategies.
Unfortunately, many investors “time” in the wrong direction by chasing performance. This can erode the benefits of factor investing even when diversifying across different factors.Presenter:
Chairman & CEO
Rob Arnott is co-founder and chairman of Research Affiliates, portfolio manager on the PIMCO All Asset and All Asset All Authority family of funds and author of more than 100 financial journal articles.
Managing Director, Head of Client Strategies
John West is responsible for maximizing the investor impact of Research Affiliates’ insights and products. Since joining the firm in 2006, John has been actively involved in and led product management, affiliate support, and institutional relations as well as numerous client service initiatives. He is one of the principal external communicators of the firm’s asset allocation and smart beta strategies.