Andrew Ang, PhD, Managing Director, is Head of Factor Investing Strategies and leads BlackRock’s Factor-Based Strategies Group. Throughout his career, Dr. Ang’s has focused on identifying and harvesting factor risk premiums within and across asset classes.
Before joining BlackRock in 2015, Dr. Ang was Chair of the Finance and Economics Division and the Ann F. Kaplan Professor of Business at Columbia Business School. He has published widely on equities, fixed income, asset and factor allocation, and alternative assets. His recent book,“Asset Management: A Systematic Approach to Factor Investing” is a comprehensive guide showing how factor risk premiums can be harvested in portfolio design and incorporated in all aspects of investment management. As a professor, Dr. Ang advised several large institutional managers, including Canada Pension Plan Investment Board, Norges Bank and the Norwegian Ministry of Finance, on factor investing strategies.
Dr. Ang earned a BEc(Hons) degree in actuarial studies from Macquarie University, and a PhD in finance and MS in statistics from Stanford University.
SQA in January:
SQA/CFA Society NY Conference
Data Science in Finance, The Final Frontier?
January 18, 2018
Great Agenda Scheduled! Visit website for more information
Time: 8:30 am – 5:30 pm
SQA Member – $525
Early Bird Discount – Receive $100 off!
Boston QWAFAFEW Christmas Party
Tuesday December 19, 2017 – 6:15 PM Sharpe,
3rd Floor of the Tennis & Racquet Club, 939 Boyston Street, Boston MA
Please RSVP hugh@QWAFAFEW.org to enjoy good holiday cheer, smelly fish, semi-fresh sandwiches, and Moore’s Law.
Beer and wine complimentary while it lasts. Bring your own rotten tomatoes to greet our speaker, a passionate New York Yankee fan.
Topic: “The Case for Reverse Market-Cap Indexing”
A discussion led by Herb Blank, Senior Consultant, Global Finesse
Index investing can trace it roots back more than 50 years. However, the dynamics around implementing index portfolios have changed as capital markets have evolved, opening up new discussions around the possibilities and potential benefits of different index methodologies. This paper sets out to explore the investment potential of an index consisting of the same stocks as the popular market-cap-weighted S&P 500, but weighted by the reciprocal of each stock’s market capitalization. We explore the properties such an index would have versus traditional capitalization-weighted and equally weighted schemes. This is followed by empirical testing and attribution analysis to confirm whether reverse-cap weighting provides a viable alternative to the momentum, concentration, and anti-value biases inherent in capitalization weighted indices.
Herbert (“Herb”) Blank is a Senior Consultant with Global Finesse LLC. He provides ETF, enhanced indexing, ESG-related, and product development services linked to his expertise. Specialties are assisting clients expand their reach and raise awareness by authoring white papers, then promoting them through educational webinars, seminars, and interviews.
His prior position had been as Director of the Global Benchmark System at S-Network Global Indexes and ESG Solutions. Herb was responsible for education and presentations on index development with an emphasis on “Smart Beta” and ESG ratings and indexes. Before S-Network, Herb worked as Managing Director of Quantitative Solutions at Rapid Ratings International, where he served as account manager for institutional investors, insurance companies, and banks and assisted risk managers in integrating the firm’s data into corporate systems.
A recognized pioneer in the ETF industry, Herb was Founder and Managing Principal at QED International Associates, where he consulted with asset management firms to develop and market ETFs, global asset allocation strategies, and risk-controlled hedge vehicles. In this capacity, he assisted in product development and introduction of iShares, and GLD. From 1993-1997, Herb was a Director at Deutsche Bank Securities Corporation. He served as Senior Portfolio Manager of CountryBaskets, nine different country index funds and the first ETF family to use the fund structure, as the first ETFs to trade on the NYSE.
From 1990 – 1993 at Value Line Inc. as Senior Quantitative Analyst, Herb worked on developing and maintaining stock ranking systems while developing and serving as portfolio manager of tilted index portfolios. Fidelity Bank in Philadelphia was his home through most of the 1980’s where he developed and managed quantitative portfolios as part of a team that worked with Stephen Ross, PhD. to introduce Arbitrage Pricing Theory into institutional portfolio management. A frequently published author, Herb’s MBA is from NYU Stern; he also holds M.A. and B.A Mathematics degrees from the University of Pennsylvania. Herb also serves as Steering Committee Chairperson of the New York Chapter of QWAFAFEW which he helped re-launch in 1997 and has since helped launch and promote other chapters around the world.
All annual dues ($150) should be paid to Boston QWAFAFEW by credit card, Bitcoin or check.
By credit card (PayPal) http://qwafafew.org/BostonPayDues.html
Send us Bitcoin, our address is:
Please send a separate email identifying your anonymous payment.
Executive Management Associates
Please RSVP for all meetings you plan to attend: hugh@QWAFAFEW.org
Guests who do not RSVP may have to wait to enter the meeting, due to space constraints (capacity=100, BFD).
Guest fees ($30) can be paid through EMA (check or PayPal, bring receipt) or bitcoin (at address above). The $30 guest fee can be paid by bitcoin, cash or check
at the door, no credit cards at the meeting.
As always, if you have names or discussion topics, please forward them to any member of the Steerage Committee
Any other chapters need assistance in program or wish to plan something, please let me know. firstname.lastname@example.org
Others are also encouraged to start local chapters. I will help and point out the pros and cons as needed. Beyond basic resources and a generally shared mission, Chapters are completely autonomous.
QWAFAFEW on linked in: QWAFAFEW Investment Society linked-in Discussion page. The URL is
All worldwide chapter events and related events (along with ETF events, SQA events, etc.) are listed on this page along with active discussions and thought-provoking issues are posted on this page.
Website www.qwafafew.org (official site – New York Page) have access to past presentations. Questions, job postings, or an event you wish to publicize. e-mail email@example.com or call Herb Blank, 917.992.7852.