AQR cofounder Cliff Asness and his coauthors examine momentum across markets and its interaction with value. Their work offers a systematic perspective on patterns that can be uncomfortable for investors to follow.
Our FIRE connection: evaluate a rule across many observations and against a relevant alternative. Decide how you would respond to a prolonged disappointing period before relying on a strategy in your plan.
Momentum research is broader than post-earnings drift. Institutional portfolios, trading costs, and implementation resources differ from a household account. A historical premium is not a fixed annual payment.
2014 research by the authors, hosted by AQR. Broader momentum evidence, not a validation of a specific PEAD implementation.
A short-term market pattern meets a decades-long financial plan. Explore post-earnings drift through seven investing perspectives, from patient ownership to active trading.
Read the field noteAn independent reading guide by FireFolio, published September 25, 2026. These are our FIRE connections, not a claim that the writer supports every idea in the movement. No affiliation or endorsement. Educational material, not individualized investment advice.
