Just released is a thought provoking investing podcast with Patrick O’Shaughnessy and Liegh Drogan. The interview debates the future of stock-picking vs. passive factor investing. The apt by-line is perhaps, “this is what you are up against” and it covers among others the failure of US Value investing over the last 7 years and the rise of new and as yet unknown algorithms in factor investing.

The take home message for me is to stick with small caps that are under researched by both fund managers and the mightily machines! Also that a combination of "rational" human and machine minds may still outperform each individually. To potential Quants - Enjoy. Ian

Podcast: http://investorfieldguide.com/drogen

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