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 


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


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

Mar 01, 2024

Factor Investing Paper Wins Top Bernstein Fabozzi/Jacobs Levy Award

by Rob Kozlowski, Pensions & Investments, March 1, 2024: The Best Article for the 25th Annual Bernstein Fabozzi/Jacobs Levy Awards was awarded to “Fact, Fiction, and Factor Investing” by Michele Aghassi, Cliff Asness, Charles Fattouche, and Tobias J. Moskowitz. The authors evaluate a variety of claims about factor... investing, confirming some and rebutting others. The article finds that factors receiving the most attention in academia are those based on solid theory and strong in-sample statistical significance. Bruce Jacobs, principal and co-founder of Jacobs Levy Equity Management, said “the authors are to be commended for sifting through the many claims about factor investing and presenting an assessment of its benefits and drawbacks.” All articles that appeared in the Journal of Portfolio Management from 2023 were eligible for the award and were voted on by subscribers.

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Oct 09, 2023

Harvard Professor Wins Nobel Prize in Economics for Research on Women

by Palash Ghosh, Pensions & Investments, October 9, 2023: Claudia Goldin of Harvard was awarded the Nobel Prize in Economics “for collecting and interpreting two centuries of data that have revealed the factors that affect women’s opportunities in the labor market and contribute to gaps in pay that exist to this day,” Bruce Jacobs said... In tracing women’s earnings and workforce participation over such an extended period, Goldin’s research highlighted “the role of parenthood in explaining the pay gap between women and men, which remains at 10% to 20% in high-income countries, even as women have equaled and surpassed men’s educational levels,” Bruce added.

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Oct 02, 2023

Bruce I. Jacobs’s Remarks in Remembrance of Harry M. Markowitz at the Q Group Fall 2023 Seminar

Q Group Fall Seminar, Arizona, October 2, 2023: Bruce Jacobs recalled his and Ken Levy’s collaborations with Harry Markowitz on projects including the optimization of long-short portfolios and the creation of a financial market simulator during his remarks at the Memorial for Harry Markowitz. Bruce also expressed his appreciation... to Harry for his insights in the foreword to Bruce’s book, Capital Ideas and Market Realities: Option Replication, Investor Behavior, and Stock Market Crashes, and in Bruce and Ken’s books Equity Management: Quantitative Analysis for Stock Selection, and its second edition, Equity Management: The Art and Science of Modern Quantitative Investing. In the forewords for the latter two books, Harry discussed how we “build upon each other’s research.” One such example is Harry’s paper responding to Bruce and Ken’s articles exploring mean-variance-leverage optimization, which is an extension of Harry’s mean-variance optimization. In Bruce’s concluding remarks, he said, “Harry, you will be missed—your love of learning, your lifelong dedication to the field, and your knowledge creation. Your legacy will live on for generations.”

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Memorial for Harry Markowitz
1927 – 2023

Bruce Jacobs Remarks
“Collaborating with Nobel laureate Harry M. Markowitz: A Remembrance”
Q Group Fall 2023 Seminar, Arizona
October 2, 2023

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Tribute to Harry Markowitz

In honor of our friend and colleague, Harry Markowitz, here are Bruce’s remarks on the occasion of the 25th anniversary of Harry winning the Nobel Prize.

Bruce Jacobs Keynote
Harry M. Markowitz XXV Nobel Prize Celebration
UC San Diego
October 16, 2015
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

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