Invariant was active across portfolios in early February. This interim market update will discuss these moves and provide initial...

Happy New Year! We hope you and yours had an enjoyable holiday season. We wish the end of 2022 meant the end of challenging times for...

Executive Summary At Invariant, we believe the economy is much stronger than commonly believed. Volatile and persistently high inflation...

Executive Summary June capped off a quarter that most investors would like to forget. The S&P declined more than 16%, sliding into bear...

Executive Summary Stock and bond markets experienced a serious correction in January and February but recovered some of those losses in...

Investment managers spend a lot of time thinking about portfolio risk – usually in terms of volatility and drawdowns . Tracking error is...

When implementing quantitative investment strategies, it is generally believed that you should understand the economic rationale of why a...

Happy New Year! As Invariant enters its ninth year, we are grateful to have the opportunity to serve a growing number of individuals and...

Before discussing the benefits of equal-weight as an alternative to strategy market-capitalization, we need to define market...

One of my favorite heuristics for determining an investor’s willingness to take risk and, subsequently, an appropriate asset allocation ,...

Everything looked rosy for stock investors early in September. The S&P 500 added to its impressive gains and notched a new all-time high...

A key pillar of Invariant’s investment philosophy is that “ Behavioral mistakes can derail even the best investment plans and strategies...

The Standard and Poor's 500 index is the most widely watched U.S. large cap index by investment professionals. It has appreciated...

Strategic model portfolios are typically the core of an advisor’s business. The Invariant model series is strategic in nature with...

Factor Investing: The Profitability Factor This post will introduce Invariant’s large cap U.S. single stock strategy – Profitability...

Stocks and the economy delivered impressive gains in the second quarter as the world continued to emerge from the COVID-19 pandemic....

The first tenet of Invariant’s investment philosophy is “The primary determinants of investment success are appropriate asset allocation...