Mary Corbin

Just saw the longest TSA precheck line ever at DIA. I was braced, but was in line less than 5 minutes. Way to go, #tsa

Technology enabling nuanced discussions around esg. Rockefeller #IW18

D'Auria: low/min ETFs have high momentum exposure over last five years. #IMCA17

D'Auria: evidence for low/min vol over 5 years indicates that it is doing what it tries to--- beta and std dev are as predicted #IMCA17

D'Auria: in general, people regard low/min as a safe space when things are down--- performance tends to reflect that. #IMCA17

D'Auria: concerns w/ low/min: valuations, crowded trade, risk of run, high turnover, factor imps, concentration, complex explan. #IMCA17

D'Auria "min vol works because it has low vol exposure." #IMCA17

D'Auria: "Minimum vol is not the optimized point on the efficient frontier, it's lower vol than that " #IMCA17

D'Auria: "minimum vol investing differs from low vol in that we're considering how stocks co-vary. #IMCA17

D'Auria: "high idiosyncratic vol *should* be positively related to expected returns but we actually see low vol stocks do better " #IMCA17

Easterling: reconciliation principle- EPS, dividend yield, or p/e drive returns, must be reconciled with returns predictions. #IMCA17

Easterling: We're set for growth in the range of 5-6% #IMCA17

#IMCA17 San Diego Monday morning

Easterling: p/e and the inflation rate have a fundamental relationship #IMCA17

Easterling: dividend and p/e have a fundamental relationship #IMCA17

Easterling: earnings growth and GDP have a close relationship and drive each other. #IMCA17