ERI Scientific Beta criticises Mercer factor investing report

first_imgERI Scientific Beta has strongly criticised a November 2017 Mercer report on factor investing, calling it an “all-out attack against evidence-based investment”.The consultancy’s report was “representative of undocumented opinions” and therefore liable to misinform investors, according to the smart beta indices and analytics provider.In a paper setting out their criticism in detail, Frédéric Ducoulombier, corporate director of ERI Scientific Beta, and Noël Amenc, its CEO, said: “It turns out that Mercer’s investment beliefs align nicely with their bottom line but not so much with the bottom lines of end-investors.”According to ERI Scientific Beta, the consultant’s report had correctly underlined the potential for smart beta and factor strategies to add value, and the need for proper due diligence on these strategies. But, it said, Mercer then recommended discretionary solutions “by argument of authority or by peddling (debunked) clichés on systematic strategies”.In its report the consultant argued: “For a relatively small increase in fee level, active multi-factor approaches offer superior risk management and portfolio evolution over time.”“There is ultimately no empirical evidence supporting Mercer’s allegations against factor investing, hence they are just unfounded assertions.” Noël Amenc and Frédéric Ducoulombier, ERI Scientific BetaA spokesman for Mercer told IPE: “We stand by our research conclusions and respectfully disagree with many of the points being made by ERI Scientific Beta.”Ducoulombier and Amenc took issue with 13 sections of Mercer’s report, including the assertion that factor indices could be “dangerous” and were prone to crowding.The ERI duo argued that “assessing crowding risk requires research, not just anecdotes, and there is little reason to be concerned about crowding if factor returns reward the taking of systematic risk”.Mercer also stated in its report: “For investors facing few governance or fee constraints, we believe that truly unconstrained active strategies offer the potential to capture factor returns in an intelligent way, while also benefiting from market awareness and idiosyncratic alpha, potentially improving returns, controlling risk and enhancing diversification.”In response, Ducoulombier and Amenc said: “Everyone is entitled to their beliefs, but investors would benefit if such beliefs were solidly grounded in scientific research, i.e. evidence-based as opposed to faith-based.“Contrary to what is assumed here, it is perfectly possible to design market-aware dynamic factor strategies that remain fully systematic and highly diversified; these strategies even exist in the long/short space with some offering zero exposure to broad equity market risk.”The full ERI Scientific Beta paper can be found here and a summary version of Mercer’s report here.last_img read more

UWF Baseball Announces 2008 Early Signees

first_imgUWF Baseball Announces 2008 Early Signees Nov. 20, 2007PENSACOLA, Fla. – West Florida Head Coach Mike Jeffcoat has announced five new players who have committed and signed to come play for UWF during the 2008-09 school year. “We feel really good about the kids we have coming in, we have definitely filled our needs.” stated Jeffcoat. “Since we will have a young team and a lot of new faces this year, we needed to get quality players at a few positions that we are low on depth, and we did that with this group of signees.”Two talented stars from Pace high school are among the early signs for the Argos. Left-handed Pitcher Ryan Sorce, and Catcher/First Baseman Weston Bragg will stay close to home and are expected to be impact players. Sorce is ranked as one of the top pitchers in the panhandle region.West Florida also inked Cody Campbell, a First Basemen from St. Cloud, FL (St. Cloud H.S.), Blake Maher, a Right-handed Pitcher from Orlando, FL (Lake Highland Prep), and Dan Jacobs, a Right handed Pitcher from Pensacola, FL (West Florida Tech), who is currently playing for Gulf Coast Community College.The Argonauts are the reigning Gulf South Conference Champions, and will prepare to defend that title beginning in January 2008, with a young group of talent. The upcoming season should be an exciting one for West Florida baseball, and with the group above coming on board for 2008-09, the Argonauts are just reloading, not re-building. Print Friendly Version Sharelast_img read more

Mrs. Wanda Louise (Gardner) Goodpaster Ellis

first_imgMrs. Wanda Louise (Gardner) Goodpaster Ellis, age 70, of Switzerland County, Indiana, entered this life on March 11, 1949, in Milan, Indiana, the loving daughter of the late, George Gardner and Violet (Brison) Darnell. She was raised in Wilmington, Indiana and Milan, Indiana and was a graduate of the Aurora High School. Wanda was united in marriage on November 6, 1967, in Milan, Indiana, to the late, Joseph Goodpaster. This happy union was blessed with three daughters, Jane, Betty and Wanda and two sons, John and Robert. Wanda and Joseph shared 12 years of marriage together until he passed away on February 21, 1979. Wanda was later united in marriage in 1982 in Vevay, Indiana, to the late, Terry Lee Ellis. Wanda was employed for Pri-Pak Inc. in Greendale, Indiana, from 2006 – 2015. She resided in the Switzerland County community since 1981 and was a member of the Switzerland Baptist Church in Vevay, Indiana. Wanda will be remembered for her love of crocheting, sewing, reading books and taking care of children, especially her grandchildren and great-grandchildren. Wanda passed away with her loving family by her side at 2:35 p.m., Friday, April 12, 2019, at the Highpoint Health in Lawrenceburg, Indiana.Wanda will be missed by her daughters, Jane Smith of Lawrenceburg, IN, Betty South and her husband, Mike of Rising Sun, IN and Wanda Morton and her companion, Ryan Long of Patriot, IN; her sons, John Goodpaster of Patriot, IN and Robert Goodpaster of Patriot, IN; her step-daughters, Rebecca “Becky” Smith and her husband, Troy of East Enterprise, IN and Stacie Moore of Vevay, IN; her grandchildren, Vernon (April) Johnson, Jr., Kevin (Misty) Johnson, Christopher (Amy) Johnson, Troy (Alexis) Smith, Vincent Smith, Shayla Smith, Brittany (Aaron) Thayer, Grace Holmes and Brison Scudder; her 16-great-grandchildren; her step-grandchildren, Angela, Michael, Austin, Jason, Hannah and Evan; her 3-step-great-grandchildren; her sisters, Carolyn Matthews and her husband, Bill of Cross Plains, IN and Crystal Gonzales of Riverside, CA; her brothers, Wayne “Rick” McDaniel and his wife, Judy of Bowling Green, MO and Thomas Cornett and his wife, Nikki of Indianapolis, IN; her 4-half-sisters and 4-half-brothers and her numerous nieces and nephews.She was preceded in death by her parents, George Gardner and Violet (Brison) Darnell; her half-brother, Steve Darnell; her half-sister, June Gardner and her step-grandson, Gage Logan Moore.Funeral services will be conducted Tuesday, April 16, 2019, at 1:00 p.m., by Rev. C. Martin Justice at the Haskell & Morrison Funeral Home, 208 Ferry Street Vevay, Indiana 47043.Interment will follow in the Pleasant Cemetery, Pleasant, Indiana.Friends may call 11:00 a.m. – 1:00 p.m., Tuesday, April 16, 2019, at the Haskell & Morrison Funeral Home, 208 Ferry Street Vevay, Indiana 47043.Memorial contributions may be made to the St. Jude Children’s Research Hospital, Switzerland Baptist Church or Pleasant Cemetery. Cards are available at the funeral home or online at www.haskellandmorrison.comlast_img read more

Customer shot in face after complaining about slow service

first_imgThe 39-year-old victim was taken to the hospital and is in serious condition but is expected to recover.Anyone with information about the shooting is asked to call police at 772-577-0753 or Treasure Coast Crime Stoppers at 800-273-TIPS. A Miami man was shot in the face after he made a complain over slow service at a smoothie shop in Fort Pierce, police said.The incident took place Sunday afternoon when the victim, who was a customer at the Tropical Smoothie Cafe on Okeechobee Road, was complaining about how long it was taking his order to be prepared. Fort Pierce police spokesman Mike Jachles said a masked gunman then entered the business and confronted the customer and then shot him in the face.The gunman fled the scene, and police were not able to find him.last_img read more

Daniel Bard makes Rockies roster after seven-year absence

first_imgNotes: The Rockies released veteran relievers Bryan Shaw and Jake McGree on Friday. … Also making the roster were veterans Matt Kemp and Chris Owings___More AP MLB: and Associated Press July 17, 2020 Daniel Bard makes Rockies roster after seven-year absence “It was a good thing for me, honestly,” he said. “It was a huge blessing in disguise. I was able to go home, I had a great group of guys to go work out with. We had the stadium opened to us and I was able to throw like 10-12 live BPs to Triple-A and big league hitters and got tons of feedback, got real comfortable with my repertoire.”He had a couple of nervous moments when summer camp began at Coors Field earlier this month but he quickly saw that his sinker had enough movement at altitude.“Maybe not exactly like at sea level but it definitely has enough movement to be a decent pitch,” he said.In this weirdest of seasons, Bard figures he might be the biggest beneficiary. His control issues never had anything to do with performance anxiety in front of huge crowds, so the empty stands won’t bother him one bit, he said.“If anything I’m very accustomed to pitching with no fans,” he said, “given all the back fields I’ve had to throw on.” “I haven’t even gotten there yet,” Bard said. “In many ways, I think just getting on a mound in the spring training games back in March was as big a hurdle as any and then having the chance to pitch in these intrasquad games” this month when teams reconvened following the coronavirus-caused delay.“I’m sure there’ll be a little more adrenaline once we get the real thing going next week, but I’ll just take it one step at a time and trust that it’s going to be similar to what’s been going on,” Bard said.Bard was considered the closer in waiting in Boston after a quick climb to the big leagues. The 28th overall pick in the 2006 draft, he reached the majors in 2009 and in his first 197 innings posted a 2.88 ERA with a whopping 9.7 strikeouts per nine innings.He developed control issues in 2012 when his ERA ballooned to 6.22 and soon he was in the grips of a full-blown case of the yips, unable to consistently find the plate with any of his pitches. An abdominal injury limited him to just two appearances in 2013, and in subsequent seasons he had failed comeback attempts with the Rangers, Cardinals and Mets.The Rockies gave him one last shot this year and he made the most of it, regaining not just his control but his confidence with a stellar spring and strong summer when he returned home to Greenville, South Carolina, during the coronavirus pandemic. Share This StoryFacebookTwitteremailPrintLinkedinRedditDENVER (AP) — Daniel Bard never ran from the mental hiccups that derailed a promising pitching career with the Boston Red Sox.Through a half-dozen comeback attempts since his last appearance in the big leagues in 2013, Bard couldn’t rediscover his control and finally settled into a job last year as a player mentor and mental skills coach for the Arizona Diamondbacks.In addition to offering advice or just a shoulder to players, he’d shag fly balls and play some catch during warm-ups. Soon, players began telling him his throws were pretty nasty and wondered why he wasn’t on a big league mound himself. Intrigued, Bard got back on a mound in January in Charlotte, North Carolina.“I was throwing mid-90s, throwing strikes with ease, and I hadn’t done that in eight years,” Bard said. “So, that was when I was like, `OK, I think I’m going to give this serious consideration.’”Rockies manager Bud Black informed Bard, 34, on Friday that he’d made the roster.“It’s going to be a great story when he comes back and pitches well,” Black said. “We’re optimistic about that.”Even though it’s been more than seven years since he last pitched in the majors, Bard said he’s not even thinking about that first batter he’ll face when the 60-game season gets under way later this month. Just in signing a minor league deal with an invitation to spring training, “I was like, `This is really cool,’” Bard said. “I never thought I’d pitch (again) in any big league game, spring training or not.”This spring, he finally felt comfortable again on the mound and in his skin.“I’d signed all sorts of deals from 2012-17, a lot of different teams, trying to get back and I just was never comfortable because I wasn’t confident in what I was doing on the field,” Bard said. “And so much of my identity was tied up in that, so even in a clubhouse setting, any time you’re part of a team you want to be the guy who can pull his own weight. And I was terrible. I couldn’t throw strikes and I wasn’t a contributor, so that just makes you feel like you’re added baggage and weight that everybody else is having to take care of. “Being in the clubhouse this year, I knew I was different out on the mound.”Not even the hiatus from his teammates between mid-March and mid-July dampened Bard’s mood. Bard said that time back home in Greenville simulated the minor league stint he expected to start the season.last_img

Iwobi’s Everton Host Wounded Spurs

first_imgThe table does not lie after 10 matches and 16th versus 11th in the Premier League says everything about the underachievement of two teams harbouring far greater ambitions.Everton have won their last two games at Goodison Park in league and cup yet, having suffered another avoidable loss at Brighton last weekend, even if controversial, it feels Marco Silva remains only one bad home defeat away from a full-blown crisis.Tottenham suffered their fifth defeat of the campaign on Merseyside last Sunday but showed enough quality on the counterattack at Liverpool to encourage Mauricio Pochettino. Everton hopes Iwobi will help them get past Tottenham with a sterling performance today The two teams who have endured disappointing campaigns to date will face off today when Everton welcome Tottenham Hotspur to Goodison Park.The hosts go into the weekend sitting only two places and two points above the relegation zone, while Spurs are also in the bottom half having won just twice in the league since the opening day of the season.Today will be the first time these two teams have met while both have been in the bottom half since April 2004, and for Spurs time is running out to turn their form around if they want to at least salvage a top-four challenge this term.Eight points already separate Mauricio Pochettino’s side from the Champions League spots, while leaders Liverpool are a full 16 points clear of Spurs 10 games into the season following their victory when the two sides met last weekend.The Londoners will hope for a happier trip south from their second Merseyside visit in as many weeks, but they have picked up just one point from their last three league games and have only won six of their last 22 in the top flight.Indeed, Spurs have amassed only 23 points from those 22 games – an average which, spread over a 38-game season, would leave them just short of the 40-point mark generally required to guarantee safety.It is no exaggeration to suggest that Tottenham have been in relegation form for more than eight months now, then, and another defeat on today would be their 19th of the calendar year across all competitions – their most since 2008.Incidentally, 2008 was also the last time they failed to pick up more than their current tally of 12 points from their opening 10 games of a season, and it is their away form which is the biggest reason behind that.Only Everton and Norwich have picked up fewer points on the road this season, and remarkably Tottenham’s wait for an away Premier League win stretches all the way back to January, since when they have accrued a measly two points from the 33 on offer.Indeed, Spurs’ only two away league victories in 2019 as a whole came against Cardiff City and Fulham, meaning that you have to go back to their last visit to Everton – in December 2018 – for their most recent win away to a team currently in the top flight.It is a woeful record for a side that reached the final of the Champions League last season, but they will be hoping that a return to Goodison – where they won 6-2 just before Christmas last year – will spark a much-needed end to their troubles on the road.It certainly looks like a good opportunity to get back to winning ways on paper, with Spurs unbeaten in their last 13 league games against Everton in a run which stretches back to December 2012.Only the bottom three have conceded more goals than the Toffees after 10 games of the season, while their run of five defeats and just one win from their last six league games leaves them rock bottom of the form table too.While Everton’s general form has been poor of late, they have won seven of their last nine home league games and have kept clean sheets in seven of their last 10. Nine of their 10 points this season have come in front of their own fans.Coupled with Tottenham’s travel sickness, that provides a significant reason for Everton to be optimistic, although they may also need some of the luck which deserted them against Brighton & Hove Albion last weekend.The Toffees led 2-1 heading into the final 10 minutes at the Amex, only to controversially concede a VAR-awarded penalty before Lucas Digne’s 94th-minute own goal compounded their misery.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more

F-M hockey tops Liverpool; CBA/J-D ties twice

first_img Tags: CBA/J-DF-Mice hockey Only the work of Fulton goaltender Jadon Lee, who had 43 saves, kept his team in it, along with two goals from Derek Schumaker as Pat Galvin and C.J. Watts had the Red Raiders’ other goals.While that was going on, F-M went to Lysander Arena to take on Liverpool and, led by Spencer Sasenbury and John Manzi, moved back above the .500 mark (5-4) by whipping the Warriors 7-2.Productive from start to finish, the Hornets leaned plenty on Sasenbury, who set a career mark with five assists and often passed it to Manzi, whose three goals merited a hat trick.Jackson Denton was also generous, earning three assists. Will Duncanson scored twice as single goals went to Ben Hammond and Riley Carr. Josh Kuchinski and Stephen DiBlasi had single assists.F-M then hosted reigning state Division I champion Syracuse on Thursday, helping to sell “Wyatt Strong” bracelets in honor of former Cougars player Wyatt Weil, who was diagnosed with a rare form of leukemia.A strong first period included back-to-back goals by Duncanson and Kuchinski that erased an early 1-0 deficit, with Hammond, Sasenbury, Sean Wyman and Mike Hockenberger earning assisetss.Syracuse, netting three goals in the second period and another in the third, prevailed 5-2, as Stephen Matro (two goals) and Ryan Durand (one goal, one assist) led the Cougars, overcoming 24 saves from Hornets goalie Jake Johnston.After it meets CBA/J-D, F-M will go north to face Ontario Bay on Thursday night, while the Brothers are home Friday to face Mohawk Valley.Share this:FacebookTwitterLinkedInRedditComment on this Story Through the rest of regulation and overtime, neither side could win it. Donovan Watson and Finn Wheeler assisted on CBA/J-D’s goals and Joe Salvador finished with 27 saves, one more than B’ville counterpart Brad O’Neill.The Brothers played again on Friday, hosting Fulton, and again made it through three periods and an overtime without a decision as it tied the Red Raiders 4-4.Burns and Wheeler each scored twice to account for CBA/J-D’s goal-scoring, with Burns adding an assist. Dotterer and Bowler had two assists apiece as Watson and Simon Lesser got assists, too.center_img During the first full week of 2020, ice hockey teams from Fayetteville-Manlius and CBA/Jamesville-DeWitt each played twice in advance of their head-to-head clash Tuesday at Onondaga Nation Arena.On that same Nedrow ice, the Brothers welcomed Baldwinsville exactly one week earlier, the game going through regulation and overtime without a resolution as it ended 2-2.Kodi Dotterer netted a breakaway goal short-handed, with Mason McKie also finding the net. But the Bees countered with goals by Matt Carner and Luke Hoskin.last_img read more

Tyler Roberson to choose Syracuse, Kansas or Villanova Friday

first_imgRoselle Catholic (N.J.) junior power forward Tyler Roberson will announce his college choice on ESPNU’s Signing Day Special Friday night.The 6-foot-8 210-pound forward is a four-star recruit and visited Syracuse on Oct. 5, Kansas on Oct. 19 and Villanova Oct. 26. The three school are considered to be his finalists.According to Roberson is the No. 7 power forward in his class. The ESPNU broadcast begins at 7 p.m. ET Friday night. Comments Facebook Twitter Google+ Published on November 15, 2012 at 11:53 pmlast_img read more

Women of Troy split weekend series with East Coast foes

first_imgUSC ended its East Coast road trip on a high note Sunday after defeating Marist College, 11-7. Their win came just a day after they fell to No. 16-ranked Stony Brook, 7-4.The weekend’s games were the Women of Troy’s first action since dropping an overtime thriller to a perennial powerhouse program in the Northwestern Wildcats on Feb. 7 at the Coliseum.The trip not only provided the Women of Troy with their first opportunity to play in two weeks, but also gave them quite a test in terms of the conditions they faced.“We had a lot of time in between our game against Northwestern, so we were able to get a lot work done on things that needed it,” said head coach Lindsey Munday. “We still have things to tweak obviously but we felt pretty good coming into this weekend about the work we put in over the last two weeks.”The long East-Coast-to-West-Coast flight, frigid weather and four-hour drive between Saturday’s game in Stony Brook and Sunday’s morning matchup in Poughkeepsie gave the team its share of obstacles to face this weekend, in addition to two opponents looking to open up their seasons with wins on their home fields.The first on-field test came Saturday in the form of the Stony Brook Seawolves, who came out firing.The Seawolves jumped out to a 5-1 first half lead over the Women of Troy led by two goals from sophomore attacker and last year’s America East Rookie of the Year Dorrien Van Dyke.For any number of reasons, the Women of Troy could not find their offensive stride in the first half, mustering just two shots to Stony Brook’s 13.The lone goal for USC came off the stick of sophomore attacker Michaela Michael with 13:31 remaining in the half.The second half painted a different picture, as USC rallied behind two early goals from sophomore attacker Cynthia Del Core and Michael — both within the first five minutes of the half. Stony Brook was able to slow USC’s momentum, however, and responded for two goals of their own.They held a 7-3 lead until the final four minutes, when junior midfielder Amanda Johansen put home a goal for the Women of Troy, resulting in what would be the final score of 7-4.“We weren’t as aggressive offensively as we would have liked, particularly in the first half,” Munday said. “They are a very good team but it’s tough to win a game in which you only shoot 10 times, so that was something we definitely were aware of heading into Sunday.”Though the loss was disappointing — particularly offensively — the team was clearly more active in the second half, outshooting Stony Brook 8-6 and winning five draw controls to Stony Brook’s one. USC hoped to carry whatever small momentum it built up in the second half of Saturday’s game with them on the bus ride to Poughkeepsie for their Sunday matchup with Marist.They did exactly that: despite the 34-degree temperature, the Women of Troy came out of the gates hotter than a blowtorch, outshooting Marist 17-3 in the first half and 27-10 for the game.Michael once again led the way offensively for USC, scoring four goals and collecting an assist for a total of five points during the game.However, standout junior attacker Caroline de Lyra was able to match her teammate’s point total, dishing out two assists and scoring a hat trick of her own.Michael and de Lyra were offensive catalysts for the Women of Troy, scoring or assisting on every one of the team’s first eight goals en route to a 7-2 halftime lead and an 11-7 victory, the first of the season for the team.“We played hard and were super aggressive on all ends on the field. The girls really dug in and we were able to put the Stony Brook loss in the past behind us,”Munday said.While it undoubtedly felt good to end the weekend with their first victory, the Women of Troy won’t have much time to rejoice.The team faces a quick turnaround upon arrival back in Los Angeles, with their first conference game of the season on Tuesday at home against Fresno State.“As we look down the road, whether it is conference games on Friday and Sunday or if we have to travel a fair amount, we are going to have to be tough and ready to deal with whatever is thrown at us so I think a trip like this helps prepare for that and make us tougher and stronger,” Munday said.last_img read more

Kearney confirms all players available for Romania