Factor investing
Risk & psychologySystematically buying characteristics — momentum, value, quality — rather than picking stocks.
In plain terms
Mechanical by design. Overriding the rule is where the edge disappears.
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Systematically buying characteristics — momentum, value, quality — rather than picking stocks.
Mechanical by design. Overriding the rule is where the edge disappears.