Rob Arnott: Don't Sleep on Value Investing (Especially Emerging-Markets Value)

Our guest on the podcast today is Rob Arnott. Arnott is partner and chairman of the board of Research Affiliates, a firm he established in 2002, following stints at First Quadrant and Salomon Brothers. He also runs several prominent mutual funds, including PIMCO All Asset. In addition to these duties, Arnott is an accomplished thought leader, having published more than 100 articles in professional journals. Among other plaudits for his work, he has received seven Graham and Dodd Scrolls, awarded by the CFA Institute to the top financial analyst journal articles of the year. An innovator, Arnott popularized the concept of fundamental indexation, which some refer to as smart beta.

Background Information

• Rob Arnott bio
• Research Affiliates website
• Research Affiliates smart-beta interactive tool
• Research Affiliates asset-allocation interactive tool
• Financial Analysts Journal website
• PIMCO All Asset PAAIX
• "Fundamental Indexation," by Robert D. Arnott, Jason Hsu, and Philip Moore (2005, Financial Analysts Journal)

Related Links

Research Affiliates Forecasts

• Value strategy
• High-dividend strategy
• Emerging-markets equity
• Low-volatility strategy

Research Affiliates Research

• "Are Valuations Now Irrelevant?" by Rob Arnott (2019 Research Affiliates Advisor Symposium)
• "If Factor Returns are Predictable, Why Is There an Investor Return Gap?" by Jason Hsu (November 2015, Research Affiliates)
• "Buy High and Sell Low With Index Funds!" by Rob Arnott, Vitali Kalesnik, and Lillian Wu (June 2018, Research Affiliates)
• "Too Big to Succeed," by Rob Arnott (June 2010, Research Affiliates)
• "The Incredible Shrinking Factor Return," by Rob Arnott, Vitali Kalesnik, and Lillian Wu (April 2017, Research Affiliates)
• "How Can 'Smart Beta' Go Terribly Wrong?" by Rob Arnott, Noah Beck, Vitali Kalesnik, and John West (February 2016, Research Affiliates)
• "To Win With 'Smart Beta' Ask if the Price Is Right," by Rob Arnott, Noah Beck, and Vitali Kalesnik (June 2016, Research Affiliates)
• "Rob Arnott: 'I Want the Quant Community to Get Its Act Together," by Alex Steger (Feb. 28, 2019, Citywire)
• "What Risk Matters? A Cal