President-elect Joe Biden inauguration will be held on 20th Jan 2021. Market believes he will deliver an encouraging speech to reunite the country and share his vision on the US government policies in the next 4 years. We have studied market data points before and after the past 7 presidential inauguration and found that presidential inauguration did have an impact on the market.
S&P generally performed better after Presidential Inauguration day, thus higher probability to close above that of Inauguration day (see Figure 1). In the past 7 Inauguration, S&P had 100% chance to close above Inauguration day on the…
After our analysis on the Macro funds and Mega funds, we analyzed 13F filings of the two large Quant Funds. Renaissance Technologies (or “Renaissance”) and AQR Capital (or “AQR”), with discretionary assets under management (AUM) of around US$165.9 bn and US$248.9 bn, have been one of the world’s best-known quantitative hedge funds. Through the 13F analysis, we aim to understand their performances and strategies amid the increased volatility and on-the-rally market.
Divergence between market value and number of stock holdings implied underperformance