Factor Risk Models 101 with Rich Falk-Wallace replay

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Join Rich Falk-Wallace, CEO of Arcana and Instructor for the Factors Program, as he walks you through the basics of factor risk models and how they help investors manage risk in their portfolios. Watch the replay to learn practical ways to identify, measure, and control risk in your investments.

INTRODUCING FACTORS FOR THE FUNDAMENTAL INVESTOR

A masterclass offering the frameworks and tools to help you excel in factor-based investing and risk management

NOW ENROLLING

Enrollment is now open for the February 24th, 2025 start date. In this info session, Brett Caughran, founder and lead trainer, walks you through the program details, the concept of Factors, and covers much more.

Want to learn more, download the Factors Syllabus and info session deck below.

Core Instructors

  • Brett Caughran

    HEAD TRAINER

    Area of Specialty: PM Experience at Multiple Firms

    Brett brings 13yrs of hedge fund experience at Maverick, D.E. Shaw, Citadel, Two Sigma & Schonfeld.

    Brett founded Fundamental Edge in 2022 to help improve training on the buy-side. Brett has led over 750 buy-side analysts through Analyst Academy and has designed and delivered numerous custom analyst training programs.

  • Rich Falk-wallace

    INSTRUCTOR

    Area of Specialty: Factor Risk Management

    Rich brings 8 years on the buyside at Silver Point, Viking Global & Citadel as a Portfolio Manager.

    Rich is currently Co-Founder & CEO of Arcana, an equity-factor risk model focused on risk & performance.

  • Rocky Cahan

    INSTRUCTOR

    Area of Specialty: Factor-Based Investing

    Rocky is a Portfolio Strategist at Empirical Research Partners, focusing on research from stock selection to macroeconomic analysis since 2013.

    Previously, he led Deutsche Bank's top-ranked U.S. Quantitative Strategy team and held roles at Macquarie Bank and Citigroup, with published work in prominent finance journals.

Whats Included

  • Weekly live Zoom-based instruction (with replays available)

  • Slide presentations and additional materials (such as Excel model samples) available for download

  • Live sessions for questions and additional discussion

  • Pre-recorded guest speaker content from specialized industry experts

  • Free trials, case studies & Live Factor Lab for experiential learning

THE CURRICULUM

  • Factors for the Fundamental Investor

    1. What is a Factor? And Why Should I Care?

    2. The Building Blocks of Factor Analysis

    3. Factor Attribution & Return Decomposition

    4. Factor-Based Investing

    5. Factor-Based Risk Models

    6. Fundamental Investing in a Factor-Focused World

    Instructors:

    • Brett Caughran

    • Rich Falk-Wallace

    Guest Speakers:

    • Chad Myhre, the Allocator Perspective

    • Mark Carver, MSCI

    • Melissa Brown, Axioma

    Factor Lab:

    • Case Study: Consider Optimal
      Factor Hedge

  • Factor-Based Investing

    1. Frameworks for Factor-Based Investing

    2. Identifying Alpha with Factor Frameworks

    3. A Deep Dive Into Common Factors

    4. Applied Factor Investing

    5. Frameworks for Factor Timing

    6. "Quantamental" Factor Investing Approaches

    Instructors:

    • Brett Caughran

    • Rocky Cahan

    Guest Speakers:

    • Meb Faber, Factor-Based Investing

    • Wes Grey, Factor-Based Investing

    • Adam Parker, Trivariate

    Factor Lab:

    • Case Study: Construct
      "Quantamental" Portfolio

  • Factor-Based Risk Management

    1. "Alpha Machine" & the Rise of Factor Risk Models

    2. Statistics & Math for the Non-Quant

    3. How Factor Models Work

    4. Risk Decomposition & Volatility Prediction

    5. Performance Attribution

    6. Expanding Factor Libraries

    Instructors:

    • Brett Caughran

    • Rich Falk-Wallace

    Guest Speakers:

    • Giuseppe Paleologo, Risk 201

    • Sandeep Varma

    Factor Lab:

    • Case Study: Optimize Idio on a
      Native Portfolio

  • Factor-Aware Portfolio Management

    1. PM Toolkit for Factor-Constrained Investing

    2. Factors, Positioning & Crowding

    3. Themes, Baskets & Factor-Constrained Investing

    4. Factor-Aware Hedging Approaches

    5. Lessons Learned (the Hard Way)

    6. Portfolio Management in a Factor-Focused World

    Instructors:

    • Brett Caughran

    • Rich Falk-Wallace

    Guest Speakers:

    • Jared Kubin

    • Omer Cedar

    Factor Lab:

    • Case Study: Express Theme,
      Factor-Constrained