#valuationbeta - Twitter Hashtag

about 5 years ago

10. For the past 50 years Finance has focused on the property of stock returns, rather than the properties of the underlying stocks. Security Analysis has become a second class citizen in academia. Understanding asset prices requires understanding fundamentals. #ValuationBeta

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Rafael Resendes

@rresendes

about 5 years ago

An interesting aspect of the Quant Value community, is how they are desperately trying to mimic the properties of intrinsic value through an ever growing roster of “factors”. But as Marvin & Tammi say “Ain’t Nothing Like The Real Thing”. #ValueInvesting #ValuationBeta

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Derek Bergen @dk_bergen

over 5 years ago

Deconstruction of Intrinsic Value into Book Equity & Excess Intrinsic Value (IV-BE) confirms the role of valuation in asset pricing. Portfolios formed on high levels of Excess Intrinsic Value not captured by Book Equity outperform with much lower beta coefficients. #ValuationBeta

dk_bergen's tweet photo. Deconstruction of Intrinsic Value into Book Equity & Excess Intrinsic Value (IV-BE) confirms the role of valuation in asset pricing. Portfolios formed on high levels of Excess Intrinsic Value not captured by Book Equity outperform with much lower beta coefficients. #ValuationBeta https://t.co/tHH3QRZsfA

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Rafael Resendes

@rresendes

over 5 years ago

Traditional valuation’s dirty dark secret. Perpetuity assumptions. Mathematically elegant, intellectually bankrupt. Results is always suspect as no empirical proof and small assumption changes = huge value changes. What works? #EconomicProfitHorizon #ValuationBeta

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Rafael Resendes

@rresendes

over 5 years ago

#QuantitativeValuation is based on a much stronger theoretical foundation than quantitative value approaches. Further, its performance is much more robust. With time as this becomes common knowledge, the marketing spin will be epic. 100’s of billions at stake. #ValuationBeta

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Rafael Resendes

@rresendes

over 5 years ago

Buy the cheapest stuff at the grocery store for a year hoping to get good value. Maybe you get lucky and that milk about to expire, actually lasts a few extra days before going funky. Quantitative value investing ends up with allot of funky milk. #ValuationBeta shows why.

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Valuation Driven @valuationdriven

over 5 years ago

#EconomicProfitHorizon™️ estimates the # of years a firm is likely to generate +/- economic profits. Created by Applied Finance in 1995, to avoid unrealistic Gordon Growth Model perpetuity assumptions, it is a key aspect of the Economic Margin Valuation®️model. #ValuationBeta.

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Rafael Resendes

@rresendes

over 5 years ago

Two of many value investing problems. Quants - gorgeous backtests in sample, when answers known, but perform poorly live out of sample. Quals - fundamental analysis happy talk without data to prove skill. = rise of passive. Ripe for disruption. #ValuationBeta

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Valuation Driven @valuationdriven

over 5 years ago

#ValuationBeta State of art investment research relies on cheapness (price to something) or faulty theory (capital growth destroys value) to explain stock returns. Both are insufficient. A new way forward intrinsic value - https://t.co/UHEoKLPa6S

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