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Robert D. Arnott
Researcher at University of California
Publications - 139
Citations - 2656
Robert D. Arnott is an academic researcher from University of California. The author has contributed to research in topics: Portfolio & Asset allocation. The author has an hindex of 29, co-authored 129 publications receiving 2527 citations.
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Earnings Growth: The Two Percent Dilution
TL;DR: The authors showed that during the 20th century, stock prices and dividends were 2 percent less than underlying macroeconomic growth, and that the role of entrepreneurial capitalism, the creation of new enterprises, is a key driver of GDP growth.
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”Is Your Alpha Big Enough to Cover Its Taxes?“: Reply to Comment
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How Well Have Taxable Investors Been Served in the 1980s and 1990s
TL;DR: In this article, the authors examined the performance of large equity mutual funds over the past ten, fifteen, and twenty years and found that the average mutual fund underperformed the Vanguard Index 500 fund.
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What Risk Premium is 'Normal'?
TL;DR: This article showed that the long-term forward-looking risk premium is nowhere near the 5% of the past; indeed, it may well be near zero today, perhaps even negative.
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How Can 'Smart Beta' Go Horribly Wrong?
TL;DR: In this article, the authors predict a smart beta crash as a consequence of the soaring popularity of factor-tilt strategies, and the reasonable probability of such a crash is shown.