We all hear about quantitative strategies that are supposed to earn us 20%, 25%, or even 30%+ returns over long periods by simply “maintaining discipline to the strategy.” Here are some examples we have discussed on our blog and have seen in the media: Goodwill Gone Bad, 23% Asset Growth, 26% Magic Formula, 31% (or less depending on how you do the calculations) This all sounds great, but it is intellectually dishonest to not highlight the logical conclusion of such high returns. And I definitely do not want this blog to convey the idea that earning 20%+ CAGR for many years is by any means easy, or possible. Perhaps ... (full story)