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Axioma on those Low-Vol Picnic Baskets

Jul 25th, 2013 | Filed under: CAPM / Alpha Theory, Alpha Strategies, Indexes

The success of low-volatility strategies has been noted in the literature at least since the mid-1970s, with the publication of a seminal work by Haugen and Heins. And such strategies continue to prove successful today. Why do they still work? Why don't the excess profits draw in the bears, consuming all the picnic baskets, driving profit levels down to normal? Read More