Robert D. Arnott is a partner and chairman of the board at Research Affiliates, LLC (Newport Beach, California). He is known for pioneering fundamental indexation and for extensive research on factor investing, particularly the value premium.
Key contributions in this collection
- Reports of Value’s Death May Be Greatly Exaggerated (2021): with campbell-harvey, Kalesnik, and Linnainmaa, decomposed value’s post-2007 underperformance into revaluation, migration, and income yield components. Argued that the structural value premium remains intact and that extreme value spreads predict future outperformance. See value.
Intellectual stance
Arnott is a long-standing advocate for value investing and contrarian strategies. His work emphasizes the distinction between structural factor premia and cyclical valuation-driven performance, arguing against premature declarations of factor death based on recent drawdowns.