Pioneering Investment Research

Bruce Jacobs and Ken Levy pioneered the “disentangling” of numerous factors that influence stock returns

Proprietary Approach

Ongoing in-house research creates proprietary models 

Multidimensional

Our multidimensional process combines human insight, finance, and behavioral theory with the latest quantitative and statistical methods

Dynamic

Our dynamic, forward-looking approach pursues opportunities in changing market environments

Committed to innovative equity research

As the pioneer of the “disentangling” process that helped revolutionize equity investing, we manage equity strategies for a prestigious global roster of institutional clients.

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Latest News

Jul 01, 2024

The Birth of Portfolio Theory

by Frank J. Fabozzi, Bruce I. Jacobs, and Kenneth N. Levy, Journal of Portfolio Management, Special Issue Dedicated to Harry Markowitz, July 2024: The introduction to this special issue dedicated to Nobel laureate Harry Markowitz, co-edited by Frank Fabozzi, Bruce Jacobs, and Ken Levy, recalls the immense impact of... Harry’s foundational portfolio theories on the investing world, and describes how his insights continue to guide and shape portfolio management today. In recounting his many accomplishments in multiple fields of inquiry, the authors also highlight the affection he inspired from his colleagues and collaborators through his warmth, encouragement and support, and insatiable curiosity.

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Jul 01, 2024

Portfolio Insurance, Portfolio Theory, Market Simulation, and Risks of Portfolio Leverage

by Bruce I. Jacobs and Kenneth N. Levy, Journal of Portfolio Management, Special Issue Dedicated to Harry Markowitz, July 2024: Bruce Jacobs and Ken Levy recall their decades-long working relationship with Nobel laureate Harry Markowitz, which began when Harry took an interest in Bruce‚Äôs efforts to debunk portfolio insurance... Harry adopted Bruce and Ken’s methodology for estimating security expected returns using cross-sectional analysis, and Bruce and Ken used Harry’s methods for portfolio construction. The three went on to collaborate on numerous projects, including exploring the value of using constraints in portfolio optimization, addressing the optimality and optimization of long-short portfolios, and developing JLMSim, an asynchronous, discrete-time, dynamic market simulator. Later, Bruce and Ken extended Harry’s portfolio theory to account for the unique risks of leverage through their mean-variance-leverage model. Bruce and Ken used the mean-variance-leverage model to address the optimal amount of leverage in 130-30-type portfolio strategies. The article delves into their collaborations and highlights how they drew inspiration from each other.

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May 22, 2024

Reflections from a Graduating Jacobs Scholar: Q&A with Zachary Long

Frontier of Finance, May 22, 2024: When Bruce Jacobs established the Dr. Bruce I. Jacobs Scholars in Quantitative Finance with a generous donation in 2020, he was hoping to create a program that supported the interests and endeavors of Wharton MBA students majoring in Quantitative Finance... Zachary Long, who is graduating from the Wharton School in May 2024 as a Jacobs Scholar, has accepted an investment industry job in corporate development. “I am confident that Zachary’s experience as a Jacobs Scholar has prepared him well for the exciting opportunities ahead as he embarks on his career,” Jacobs says. Long agrees and credits the program with opening doors to the business and operations side of investment management and with providing recruiting opportunities he would not have had otherwise. He also said that his status as a Jacobs Scholar provides credibility in the workplace.

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Bruce Jacobs Remarks “Collaborating with Harry Markowitz: A Remembrance”
JOIM Spring Conference UC San Diego
March 25, 2024
Bruce Jacobs Remarks “Harry Markowitz Celebration of Life”
JOIM Spring Conference UC San Diego
March 25, 2024
Bruce Jacobs Interview
"Jacobs Levy: The Art and Science of Investing"
Davos 2020, TBD Media
January 2020
Bruce Jacobs Interview
Portfolio Management Research
New York City
Interviewed February 2020
Released May 2020

Concepts that form the foundation of our approach

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Security prices, technology, and prediction

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We are a signatory to the United Nations Principles for Responsible Investment.