BNPP IP: Resisting the temptation of factor timing

Following a series of posts discussing factor investing with a focus on premiums derived from exposures to the value, quality, momentum and low-risk factors in equity markets, we now focus on the issue of factor timing, i.e. the idea that individuals are capable of forecasting when a given factor premium may turn negative.

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BNPP IP: Resisting the temptation of factor timing