Christian Hiller von Gaertringen, Peter Zolling
Computers are only human
Bernhard Langer and Michael Fraikin: a conversation about systematic factor-based investing
Foreword
6
Table of Contents
8
1 Introduction: Factor-based investing: How and why does it work?
10
2 Computers in the financial world: Deus ex machina or a tool of humankind?
14
3 A personal path to thequantitative method
46
4 The pinnacle of investment: Factor-based investing (FBI)
64
5 Risk management in a world without interest
86
6 The bottom line: “It’s not witchcraft, just higher mathematics”
100
7 Appendix
110
Introduction to factor investing theory
112
Factor-based investingfor the field of pensions
116
PowerShares by Invesco: ETF pioneers in factor strategies
118
Glossary
120
The interview subjects
128
The editors
130
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