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Thematic versus Momentum Investing

Performance chasing with a narrative versus systematic performance chasing

Nicolas Rabener
10 min read
24 Oct 2022

SUMMARY

  • Thematic products underperform the stock market on average
  • The exposure to the momentum factor was low to negative recently
  • Systematic performance chasing beats performance chasing with a narrative

INTRODUCTION

Space: the final frontier. Where no man has gone before….

Well, wealthy folks can now go there by booking a ticket with Virgin Galactic. It will not be deep space and it could be debated if that is space at all as it is merely a trip to earth’s orbit, but it will be on a space shuttle and passengers will experience zero gravity.

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