Be fearful when others are greedy

Rob Arnott is Founder and Chair of the board of Research Affiliates. Rob plays an active role in the firm’s research, portfolio management, product innovation, business strategy, and client-facing activities. He is a member of the Executive Committee of the board. Rob is co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds and the PIMCO RAE™ funds. Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index™ approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts. In 2002, Rob founded Research Affiliates as a research-intensive asset management firm intent on delivering innovative and impactful products and insights. Prior to establishing Research Affiliates, Rob was chair of First Quadrant, LP, which he built up from the former internal money manager for Crum & Forster into a highly regarded quantitative asset management firm. He also was global equity strategist at Salomon Brothers (now part of Citigroup), the founding president and CEO of TSA Capital Management (now part of Analytic Investors, LLC), and a vice president at The Boston Company. Rob has published more than 150 articles in such publications as the Journal of Portfolio Management, Harvard Business Review, and Financial Analysts Journal, for whom he served as editor in chief from 2002 through 2006. Rob has received eight Graham and Dodd Scrolls, which are awarded annually by CFA Institute to the top Financial Analysts Journal articles of the year. He also has received four Bernstein Fabozzi/Jacobs Levy awards from the Journal of Portfolio Management. In 2013, Rob received the William F. Sharpe Indexing Lifetime Achievement Award. He is co-author of The Fundamental Index: A Better Way to Invest (Wiley 2008). Rob received a BS summa cum laude in economics, applied mathematics, and computer science from the University of California, Santa Barbara.

Roxanna Islam is the Head of Sector & Industry Research at TMX VettaFi, where she is primarily responsible for equity, alternative, and digital asset research. Prior to joining TMX VettaFi, she spent several years in sell-side equity research at Stifel where she covered industrial stocks. She also spent the beginning of her career at Wells Fargo in closed-end fund and ETF research. Roxanna is a recognized voice in the investment community, frequently speaking at major industry conferences and appearing on webcasts, podcasts, and live financial television. Her insights are often featured in media outlets including Bloomberg, Fox Business, The Wall Street Journal, Reuters, CNBC, US News, and Financial Times. Outside of the office, Roxanna is actively involved in the community. She serves on the Board of Directors of CFA Society of Dallas/Fort Worth, and is an alumna of the Business Council for the Arts Leadership Institute.