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A CULTURE THAT VALUES INDEPENDENT THINKING. First Quadrant people are free thinkers who view the markets from a unique perspective. This unique perspective gives FQ its competitive edge in identifying market inefficiencies. The evidence of First Quadrant's independent thinking lies in our low correlation with other managers.
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| INDEPENDENT THINKING REQUIRES
MORE THAN HAVING A DIFFERENT OPINION > Opinions are
cheap. Just having a different opinion doesn’t make an investment manager
valuable to its clients. IT REQUIRES MORE THAN DOING PROPRIETARY RESEARCH > What investment management firm doesn’t claim to do some or all of its own research? Most research is part of a due diligence process — fact checking, gathering anecdotal evidence. Some research also attempts to refine conventional investment strategies. If research is conducted along the same lines as everyone else, the same conclusions are likely to surface. At FQ we do all our own research, but that’s not what makes our viewpoint unique. WE ASK DIFFERENT QUESTIONS > We focus on vital information that is less widely observed. We consider which asset-specific factors drive individual stock returns, and which macro-economic factors drive returns of groups of stocks. By asking different questions, we find answers others don’t. AND WE CHALLENGE EVERYTHING > We understand very well the assumptions, beliefs, and theories that underlie conventional investor wisdom. Armed with this understanding, and an awareness of our own assumptions and beliefs, we challenge everything. Please feel free to peruse our research & publications — FQ newsletters, articles, and white papers. |
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