Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk

FOREWORD

EUGENE FAMA, THE 2014 CORECIPIENT of the Nobel Prize in Economics and father of the efficient market hypothesis, has three words to describe momentum: “momentum is pervasive.” This is no small admission from Dr. Fama. Yet, despite momentum being pervasive, it remains largely, and perhaps curiously, misunderstood by investors. Thankfully, we have Gary Antonacci to fill this void. Gary’s Dual Momentum Investing is a true “pracademic” masterpiece, bridging the gap between academics, who have explored the nuanced theoretical mechanics of the momentum anomaly in dense academic journals, and practitioners who have used their vague knowledge of momentum in an ad-hoc way to generate excess returns. Gary brings to bear his expertise in both spheres, ...