Questioning Conventional Wisdom on Risk and Return

July 13, 2020 • 00:17:10
Questioning Conventional Wisdom on Risk and Return
PzenaPerspectives
Questioning Conventional Wisdom on Risk and Return

Jul 13 2020 | 00:17:10

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Show Notes

We think average 10-year returns present a fair picture of investment skill. But how to measure risk? The Sharpe ratio compares long-term returns with short-term volatility (standard deviation of monthly returns); we see the standard deviation of our 10-year returns as a better measure. Rich Pzena and Bill Lipsey provide a deep value perspective on risk and return.

Recording Date: July 8, 2020

Disclosure

This podcast discusses the applicability of past performance, risk metrics and valuation methodologies when assessing the performance of an Investment Manager. The views that are stated on these subjects are the views of Pzena Investment Management and investors/potential investors should seek their own independent advice before considering investing in a related product.

This recording is for institutional investors, and in the UK for professional investors and eligible counterparties only. Any views and statements expressed in this recording are those of Pzena Investment Management, are based on internal research, and are subject to change. It does not constitute investment advice. Your capital is at risk and past performance is not an indicator of future performance. These materials are intended solely for informational purposes and reflect the current views of Pzena Investment Management (“PIM”) as of the date hereof.

Please click on the following link for important information:  https://www2.pzena.com/PodcastDisclosure

© Pzena Investment Management, LLC, 2020.  All rights reserved.

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