PFA's Hamaguchi reveals smart-beta fears
The CIO at Japan's Pension Fund Association discloses his fears about over-reliance on standard deviation as a measure of risk at an AsianInvestor forum.
The chief investment officer at Japan’s Pension Fund Association, Daisuke Hamaguchi, warned about over-reliance on statistics at an AsianInvestor forum yesterday, rubbishing the practice of forecasting and taking a swipe at quantitative methodology and smart beta.
Delivering a frank opening address at AsianInvestor’s fourth annual Japan Institutional Investment Forum in Tokyo yesterday, Hamaguchi argued that investors would be unwise to rely on standard deviation as a tool to meas…
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