Factor Olympics Q3 2020

Factor Olympics Q3 2020 And the winner is… October 2020. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY Momentum & Quality are leading the performance scoreboard in Q1-3 2020 Value & Size generated negative returns, like in recent years, and...

Does Financial Leverage Make Stocks Riskier?

Does Financial Leverage Make Stocks Riskier?  Or asked differently, can companies boost returns via leverage? September 2020. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARY The leverage of US stocks has been increasing over the last four decades The most...

CROIC, CFROI, CROCI & CROCS

CROIC, CFROI, CROCI & CROCS Searching for better value metrics September 2020. Reading Time: 10 Minutes. Author: Nicolas Rabener. SUMMARYCash-return-on-invested-capital (CROIC) has been proposed by some as a superior Value metricSince the GFC in 2009, CROIC...