Nicolas Rabener

FactorResearch

Managing Director @ FactorResearch

Nicolas Rabener is the founder & CEO of FactorResearch. Previously he created Jackdaw Capital, an award-winning quantitative hedge fund, and worked at GIC (Government of Singapore Investment Corporation) and Citigroup in London and New York. Nicolas holds a Master of Finance from HHL Leipzig Graduate School of Management, is a CAIA charter holder, and enjoys endurance sports (100km Ultramarathon).

Nicolas Rabener
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Latest articles from Nicolas Rabener

Building a Long-Term Equity Portfolio

With a long-term time horizon, investors should consider alternatives to the market-cap weighted equity indices. A valuation-based approach for creating an equities portfolio may seem more sensible. Using EBITDA / EV yield seems to avoid some of the....
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Nicolas Rabener @ FactorResearch 29 November 2021

Musing About S&P 500 Valuations

The valuation of the S&P 500 depends on portfolio construction. Analyst EPS projections are likely overly optimistic. PEG ratios of other stock markets are more attractive.
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Nicolas Rabener @ FactorResearch 22 November 2021

Inflation-Themed ETFs: As Complicated as Inflation

Given the importance of inflation as a topic, there are surprisingly few inflation-themed ETFs. The few available pursue differentiated strategies that result in heterogeneous portfolios. The correlation of these ETFs to inflation has been relatively...
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Nicolas Rabener @ FactorResearch 15 November 2021

The Mirage of Direct Indexing

Direct indexing is one of the growth areas in the asset management industry. However, direct indexing represents active management, specifically an inferior approach to it. Given the poor track record of active management, most investors should avoid...
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Nicolas Rabener @ FactorResearch 8 November 2021

Short-Term Momentum in Stocks, Commodities, and Cryptos

Developed markets have evolved from momentum to mean-reversion markets. Other markets like EM or cryptos are momentum-dominated. Likely explained by the distribution of retail vs institutional investors.
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Nicolas Rabener @ FactorResearch 1 November 2021

FACTORS & BEHAVIOURAL BIASES

Investors are humans and not the homo economicus. Investing is influenced by a wide variety of behavioural biases. Factors can be explained by a single or multiple biases.
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Nicolas Rabener @ FactorResearch 29 October 2021

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