Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information.
Saturday, 10 December 2016
Last updated 6 hours ago
Dec 11 2012 | 8:43am ET
Ohio-based investment advisor Empiritrage has launched its flagship strategy with a $20.6 million seed from an unnamed New York family office.
Empirical Quantitative Value is based on strategies developed by University of Chicago finance professor Wesley R. Gray, whose book, Quantitative Value: A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors, co-authored by Tobias Carlisle, is being released by John Wiley & Sons in December 2012.
The book is billed as a response to the "Magic Formula" of Joel Greenblatt's Little Book that Beats the Market. Grey claims his EQV strategy takes Greenblatt's formula “to the next level” by “incorporating cutting-edge academic research into a unified value-investing framework.”
The EQV strategies are implemented via a managed account platform and carry a 0.95% management fee and no performance fee.
For clients willing to pay a 10% performance fee, Empiritrage will throw in a proprietary market-timing overlay that “utilizes a combination of technical signals with macro fundamentals and valuation metrics to determine allocation decisions.”