Subject: Re: Pod shops, factor investing, forward EPS revisions
One of the RevUp screens on GTR1 is Up5X3:
https://gtr1.net/2013/?!!QlpoM...
From 1997 till present CAGR is 18.8% with a SAWR of 10.3%, sounds nice but screens like this are very
Volitle.

Year	          Avg
20151231	-5.1
20161230	38.0
20171229	15.6
20181231	-7.2
20191231	9.9
20201231	1.9
20211231	52.5
20221230	-10.6
20231229	25.8
20241119	1.4

A similar Screen I used briefly several years ago over on P123 has similar results from 2002
CAGR 19.3%
Annual Turnover 483%

Year	EstRev	SPEW	Excess
2015	9.17	-2.67	11.84
2016	15.54	14.51	1.04
2017	58.58	18.52	40.06
2018	-30.13	-7.84	-22.29
2019	42.25	28.91	13.35
2020	14.86	12.66	2.2
2021	36.32	29.41	6.91
2022	-26.44	-11.62	-14.82
2023	6.45	13.7	-7.25
2024**	33.57	16.06	17.52

A rough ride in 2018 and 2022.

A recent post being discussed on another form with some interesting observations about Earning Revisions and short term overreaction compared to long term fundamentals.
What's Driving Stocks - Praetorian Capital
https://pracap.com/whats-drivi...
A Quote from the article:
“Over the past two decades, quant shops have attracted a tremendous amount of assets — especially the pod shops that use many of these factors as the basis of their trading. There can be no denying that today there are way less fundamental-type managers. Heck, some traditional long-only funds even have quant screening applied to their list of securities they are able to purchase. These factors are increasingly driving portfolio construction.”