Weekly Notes · Research · Free, every Monday
Two Papers. One Idea. Every Week.
A short research letter by Iván Blanco, Associate Professor of Finance at CUNEF and founder of Noax Capital. Every Monday, two research papers on systematic investing and asset pricing, read with an opinion; one idea backed by decades of institutional data, with the chart behind it; and the asset management news that matters.
Research publication, not investment advice. We measure which links are clicked to understand what readers find useful; we do not track opens. Unsubscribe anytime. Privacy.
What's inside
Two research papers
The paper of the week, with an opinion and a chart of its main result, and a second paper in brief. From the latest work on systematic investing and asset pricing by recognised authors.
One idea, with the chart
One original chart built from decades of institutional data, with history you will not find on a free terminal, and 150 words on why it matters now.
The asset management news that matters
One story from the quant and asset management industry, one from the wider market. Two lines each.
Recent charts of the week
The kind of chart our readers get, every week
A century of momentum, and the price of holding it
The US momentum factor since 1927. A dollar grew to $355, about +6.1% per year, and the factor sits 32% below its peak.
Data through July 2026. Fama-French momentum factor, NBER recession dates.
The 60/40's quiet problem
The stock-bond correlation sits at +0.40, above anything in two decades. At this level bonds do not dampen equity drawdowns. They join them.
SPY and AGG total-return daily series, 2004–2026.
Sample issue charts. Not investment advice.
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Two papers and one idea, every Monday morning. Written by a finance professor who trades his own research.