Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

1 post found for November 2020

‘Cyclical Rotation and the Pfizer Vaccine’

The size of the style risk move. Monday’s announcement of a “90% efficacious” vaccine from the Pfizer/BioNTech was the catalyst for the biggest 1-day mean reversion in growth vs value since 2009: The growth/value pair trade in Europe delivered (-16%) in a single day (Nov 9th) and another (-7%) the following day (Nov 10th); Monday’s move -16% for the style beta (-22% in the US) was the biggest on record (in 11 years);