The Investor's Shelf — one person
Robert D. Arnott
Founder and Chairman, Research Affiliates (rebranded Syzygy Asset Management, 2026); former CEO of First Quadrant; former editor of the Financial Analysts Journal
Fundamental Indexation launched the smart-beta industry and The Fundamental Index turned it into a book that outlived its news cycle, on top of a long asset-management record.
3 books of their own · 59 articles
Books they wrote 3
Frank J. Fabozzi · 1988 · Edited volume, Probus. Open Library API unreachable this pass.
Frank J. Fabozzi · 1992 · Edited volume, Probus. Open Library API unreachable this pass.
Jason Hsu, John West · 2008 · Wiley. Open Library API unreachable this pass.
Letters
www.syzygyassetmanagement.com/insights
Arnott writes no letters; Research Affiliates' continuous publication stream is the equivalent archive. Research Affiliates' advisory and investment-management business is now Syzygy Asset Management, and its publication archive has moved to syzygyassetmanagement.com/insights (ten pages, filterable by author); researchaffiliates.com is now a redirect page, and the RAFI index business went to rafi.com. His own papers are listed under articles, drawn from his SSRN author page, papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=78011, which lists 52 papers, 1998-2025, most of them Financial Analysts Journal and Journal of Portfolio Management articles.
Research papers 54
- Fear, Not Risk, Explains Asset PricingSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2025
- Fundamental GrowthSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2025
- Revaluation AlphaSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2025
- Does Fiscal Stimulus Stimulate?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2025
- The EV ShakeoutSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2025
- Smart RebalancingSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2023
- Reimagining Index FundsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2023
- The Avoidable Costs of Index RebalancingSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2022
- History Lessons: How 'Transitory' Is Inflation?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2022
- Non-Covid Excess Deaths, 2020-21: Collateral Damage of Policy Choices?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2022
- Mitigating the Hidden Risks of Factor InvestingSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2022
- Where's the Beef?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2022
- Reports of Value's Death May Be Greatly ExaggeratedFinancial Analysts Journal, 2021
- Big Market Delusion: Electric VehiclesSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2021
- Factor MomentumSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2020
- A Backtesting Protocol in the Era of Machine LearningThe Journal of Financial Data Science, 2019
- Alice's Adventures in Factorland: Three Blunders That Plague Factor InvestingThe Journal of Portfolio Management, 2019
- Can Momentum Investing Be Saved?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2018
- The Folly of Hiring Winners and Firing LosersSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2018
- How Can 'Smart Beta' Go Horribly Wrong?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Timing 'Smart Beta' Strategies? Of Course! Buy Low, Sell High!SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Forecasting Factor and Smart Beta Returns (Hint: History Is Worse than Useless)SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- The Incredible Shrinking Factor ReturnSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- To Win with 'Smart Beta' Ask If the Price is RightSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Why Factor Tilts are Not Smart 'Smart Beta'SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Presidential Politics and Stock ReturnsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- I Was Blind, But Now I See: Bubbles in AcademeSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Whither Bonds, after the Demographic Dividend?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Rip Van Winkle IndexingSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Clairvoyant Discount RatesSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Labor Conditions and Future Capital Market PerformanceSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- A New 'New Normal' in Demography and Economic GrowthSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2017
- Rethinking the Equity Risk PremiumSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2015
- King of the Mountain: The Shiller P/E and Macroeconomic ConditionsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2015
- The Myth of Dynastic Wealth: The Rich Get PoorerSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2015
- The Glidepath Illusion... and Potential SolutionsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2013
- The Winner's Curse: Too Big to Succeed?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2012
- Rebalancing and the Value EffectSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2012
- Demographic Changes, Financial Markets, and the EconomySSRN / Financial Analysts Journal / Journal of Portfolio Management, 2011
- The Equity Premium RevisitedSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2010
- Beyond Cap-Weight: The Search for Efficient BetaSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2009
- Clairvoyant Value and the Growth/Value CycleSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2009
- Clairvoyant Value and the Value EffectSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2008
- Valuation-Indifferent Weighting for BondsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2008
- Can Noise Create Size and Value Effects?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2006
- Noise, CAPM, and the Size and Value EffectsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2006
- Fundamental IndexationFinancial Analysts Journal, 2005
- Fundamental IndexationSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2004
- Earnings Growth: The Two Percent DilutionSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2004
- Surprise! Higher Dividends = Higher Earnings GrowthFinancial Analysts Journal, 2003
- Surprise! Higher Dividends = Higher Earnings GrowthSSRN / Financial Analysts Journal / Journal of Portfolio Management, 2003
- Does Dividend Policy Foretell Earnings Growth?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2002
- What Risk Premium is 'Normal'?SSRN / Financial Analysts Journal / Journal of Portfolio Management, 2002
- Surprise! TAA Can Work in Quiet MarketsSSRN / Financial Analysts Journal / Journal of Portfolio Management, 1998
Articles and essays 5
- The Active Side of IndexingSyzygy Asset Management (Research Affiliates), 2026
- Fundamental GrowthSyzygy Asset Management (Research Affiliates), 2026
- Buy High and Sell Low with Index Funds!Research Affiliates (RAFI archive), 2018
- How Can "Smart Beta" Go Horribly Wrong?Research Affiliates (RAFI archive), 2016
- Timing "Smart Beta" Strategies? Of Course! Buy Low, Sell High!Research Affiliates (RAFI archive), 2016
Blog
Syzygy Asset Management Insights (formerly Research Affiliates Publications)