June 27, 2021
We like stocks in an inflationary environment, and we love big cap tech and large cap growth in any environment.
Image Source: Mike Cohen
Valuentum's President of Investment Research Brian Michael Nelson, CFA, explains why there are not really value and growth stocks, why most of the research in quantitative finance is spurious and needs to be redefined on a forward-looking basis, and why enterprise valuation (not the efficient markets hypothesis) should be the organizing principle of finance.
"What if I told you that almost everything you know about finance is wrong? The book Value Trap is the finance and valuation course you didn't get in school," President of Investment Research at Valuentum Brian Nelson says.

"The field needs to be almost entirely redefined in a forward-looking manner. Historical data is useless when it comes to asset pricing. It is future expectations that matter. In the age of Big Data, there may be no better book to guide investors than Value Trap."
What some have said about Standard Deviations:

A very entertaining book about a very serious problem. We deceive ourselves all the time with statistics, and it is time we wised up.

— Robert J. Shiller, winner of the Nobel Prize in Economics and author of Irrational Exuberance

Statistical reasoning is the most used and abused form of rhetoric in the field of finance. Standard Deviations is an approachable and effective means to arm oneself against the onslaught statistical hyperbole in our modern age. Professor Smith has done us all a tremendous service.

— Bryan White, Managing Director, BlackRock, Inc.
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info@valuentum.com
www.valuentum.com
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