Strategies · Core
Momentum Combined with Asset Growth
Intersect 12-1 momentum with low asset growth — keep winners that are not empire-building.
Definition
Double-sort: momentum and year-over-year asset or investment growth. Long high-mom / low-growth, short low-mom / high-growth. The idea is that momentum-plus-quality survives better than raw mom.
Why it matters
Asset growth is a known drag. Filtering mom through it is a simple quality overlay.
Case
A high-mom acquirer binge: raw mom is long, the double-sort cuts it. 2021 SPACs would have been the test.
How to read it
Growth definition (assets, capex, issuance) and independence from value. Two correlated quality metrics are not two factors.
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