Investment Styles, Market Anomalies, and Global Stock Selection focuses on global factor-return relationships for institutional equity management and style analysis. The author uses a new global factor-return equity database, defined in 1990 and allowed to evolve over time, that was designed to avoid incurring some of the common critiques of market anomaly studies. The framework and data the author presents are intended to enhance the investor/manager's understanding of vital global equity investment issues.


From the Back CoverInvestment Styles, Market Anomalies, and Global Stock Selection focuses on global factor-return relationships for institutional equity management and style analysis. The author uses a new global factor-return equity database, defined in 1990 and allowed to evolve over time, that was designed to avoid incurring some of the common critiques of market anomaly studies. The framework and data the author presents are intended to enhance the investor/manager's understanding of vital global equity investment issues.

AuthorRichard O. Michaud is senior vice president and director of research at Acadian Asset Management. His research and consulting has focused on asset allocation, investment strategies, global investment management, optimization, stock evaluation, portfolio analysis, and trading costs. Mr. Michaud has a Ph.D. in mathematics from Boston University and has taught investment management at Columbia University.His prior positions include director of research and new product development at State Street Bank and Trust Company, head of equity analytics at Merill Lynch, and director of quantitative investment services at Prudential Securities.
Mr. Michaud is a Graham and Dodd Scroll winner for his work in optimization, a director of the "Q" Group, and an Editorial Board member of the Financial Analysts Journal. He has recently completed the book Efficient Asset Management: A Practical Guide to Stock Portfolio Optimization and Asset Allocation