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RQI Investors

Lessons from the Quant Winter

The quant winter was a two‑year period from 2018-20 when quant funds underperformed. This was largely a Developed Markets effect, with Australia also affected. In the last few years we've seen strong quant factor performance which raises the question of whether a quant winter could recur.

Corporate culture: Do companies that talk the talk also walk the walk?

Getting corporate culture right can be a powerful tool for any company and an important dimension for firm value. While intrinsically important for companies, it is notoriously difficult to measure.

Extreme concentration and its implications for equity investors – Addendum

This paper extends RQI's recent research on extreme concentration, turning to the Australian and Emerging Markets (EM) experiences. It aims to provide evidence that Australia and EMs do not show the same recent upward trend in concentration as the US.

Extreme concentration and its implications for equity investors

Concentration in equity markets has reached unprecedented levels, particularly in the US. A select few mega-cap stocks now dominate market indices, reflecting a convergence of technological innovation, speculative enthusiasm, and the allure of generative AI.

A deep dive into profitability

This report examines the characteristics and trend of a well-known measure of quality - Profitability. It discusses the reasons why it is a useful measure and why it might be persistent through time.

Latest Updates

Taxation

3 ways to defuse intergenerational anger

With the upcoming budget increasingly likely to include bold proposals to alter the tax code I’ve outlined three incremental steps with fewer unintended consequences.

Economy

Why an extended US-Iran war will punish mortgage holders

The impact of the Iran War is far more than expensive petrol. Higher oil prices have secondary inflationary impacts that reverberate throughout the economy which could be bad news for Australians with mortgages.

Infrastructure

Don’t forget the yield

Global Listed Infrastructure dividends are forecast to grow 5-6% p.a over the next two years. After a hiatus, share buybacks are back on the agenda and will play an integral role in shareholder returns.

Iran war hands politicians free ticket to blame oil prices for inflation

Past oil shocks offer lessons for investors dealing with the fallout from the Iran War and the ongoing impact on inflation.

Economy

Japan 2026: A new PM heralds a new golden age?

Former Australian Prime Minister, Paul Keating, once said "When you change the government, you change the country." We're about to see whether that holds true in Japan.

Investment strategies

Why are central banks moving from US Treasuries to gold?

Central banks now hold more gold reserves than US Treasuries, signalling a shift in safe-haven asset strategy and portfolio diversification as geopolitical risks increase.

Strategy

Has global human wellbeing peaked? What the data reveals

Historically economic progress is measured by GDP growth but there is an increasing body of work that explores quantitative measures of wellbeing.

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