We Pursue a Simple Mission:

Learn, build,
share, repeat.

We constantly learn more about investing, build disciplined strategies to capture the best of what we've learned, and share our broad findings with other curious investors.

CORONAVIRUS CONTENT
PHILOSOPHY & PROCESS
FOLLOW OUR RESEARCH
CORONAVIRUS CONTENT
PHILOSOPHY & PROCESS
FOLLOW OUR RESEARCH

Upside-Down Markets: Profits, Inflation and Equity Valuation in Fiscal Policy Regimes

In this piece, Jesse Livermore* explores the stock market implications of fiscal policy. Focusing specifically on the COVID-19 pandemic, he shows how the presence of fiscal policy as a reliable source of economic stimulus can turn stock markets "upside-down", affecting profits, inflation, and valuation in ways that transform good news into bad news and bad news into good news.

O'Shaughnessy Quarterly Letter Q4 2019

In 2019, we completed more research than in any prior year, built and launched Canvas, and shared 13 papers and over 50 podcasts. This letter is intened to share where markets stand at year end, and discuss what we built and learned at OSAM during 2019.

A Historic Opportunity in Small Cap Stocks

Our research suggests that a historic opportunity may be forming in small cap companies, particularly small cap value. This article looks at the performance of small cap stocks in bear markets, and the record earnings yield spreads between small cap value and large cap growth.

OSAM at a Glance

12 years Managing client money
$4.4B Assets under management and advisement
17 strategies Our model applied: Micro to Large cap; US to Global
85,241 Stocks studied across six decades of history
Managing client money
Assets under management and advisement
Our model applied: Micro to Large cap; US to Global
Stocks studied across six decades of history

Separate Account Strategies

We build portfolios with significant factor advantages in different style segments, market capitalization ranges, and geographic regions. Our portfolios tend to have low excess return correlation with other active strategies, little overlap with market indexes, and low active costs. We have routinely worked with clients to build custom solutions.

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Our Team -
Consistency, Creativity, and Alignment

Investment success requires constant exploration, disciplined implementation, and skin in the game. We have built a team dedicated to applying our style of investing for the long term, whose interests are aligned with our clients and fellow OSAM colleagues.

OUR TEAM

Owned by 13 principal employees
Our money is aligned with yours: no personal trading, 100% of our Principals are invested in OSAM strategies
Our principals have been with the firm an average of 11 years.
Jim O'Shaughnessy
Principal, Chairman and Co-Chief Investment Officer, Portfolio Manager

Blog & Research

OSAM is committed to conducting interesting new research on markets and sharing our findings with investors. We want to manage money on behalf of committed, long-term investors, which means sharing what we learn. To follow our journey, you can read, listen and watch.

  • September 2020 Upside-Down Markets: Profits, Inflation and Equity Valuation in Fiscal Policy Regimes September 2020
  • April 2020 A Historic Opportunity in Small Cap Stocks April 2020
  • March 2020 OSAM Update: Blizzard, Winter, or Ice Age March 2020

The statements on this page are qualified in their entirety by the disclaimers and limitations contained here.