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 28, 2024

Nobel Prize-Winning Expert on Behavioral Economics Daniel Kahneman Dies at 90

by Palash Ghosh, Pensions & Investments, March 28, 2024: Bruce Jacobs remembers Daniel Kahneman as “a cognitive psychologist who gave birth to a thriving branch of economics based on human behavior rather than on standard expected utility theory.” Jacobs, who is quoted extensively in a remembrance of Kahneman’s Nobel Prize-winning career, said that Kahneman “found that when forced to make complex decisions in... uncertain situations, people were not coolly calculating rational agents. Rather, they tended to rely on heuristics—mental shortcuts and rules of thumb. Kahneman found that people could be irrational in systematic ways.” Their systematic behavior “could be incorporated into a forecasting framework,” Jacobs noted, “an insight that gave birth to the field of behavioral economics.”

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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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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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