July 1, 2019
Journal Articles
Complimentary CONTENT
Crowded Trades: Implications for Sector Rotation and Factor Timing
By: William Kinlaw, Mark Kritzman, David Turkington, State Street Associates
July 1, 2019
By: William Kinlaw, Mark Kritzman, David Turkington, State Street Associates
By William Kinlaw, Mark Kritzman, and David Turkington
Published in the Journal of Portfolio Management, July 2019
The authors propose two measures for managing exposure to bubbles. Together these measures have the potential to locate bubbles in sectors and in factors as they begin to emerge and to identify exit points before they fully deflate.
Author Bios
William Kinlaw
William Kinlaw is Executive Vice President and Head of Data Intelligence at State Street Markets
Mark Kritzman
Mark Kritzman is a senior lecturer at MIT Sloan School of Management and a founding partner of State Street Associates
David Turkington
David Turkington is Senior Managing Director and Head of State Street Associates at State Street Markets
State Street Associates
1. Peter L. Bernstein Award for Best Article in an Institutional Investor Journal in 2013; Bernstein-Fabozzi/Jacobs-Levy Award for Outstanding Article in the Journal of Portfolio Management in 2006, 2009, 2011, 2013 (2), 2014, 2015, 2016, 2021; Graham & Dodd Scroll Award for article in the Financial Analysts Journal in 2002 and 2010. Roger F. Murray First Prize for Research Presented at the Q Group Conference in 2012, 2021, 2023. Harry M. Markowitz Award for Best Paper in the Journal of Investment Management in 2022, 2023. Doriot Award for Best Private Equity Research Paper in 2022.