Melissa R. Brown, CFA - Managing Director of Applied Research

As Managing Director of Applied Research, Melissa Brown generates unique insights into risk trends by consolidating and analyzing the vast amount of data on market and portfolio risk maintained by Axioma. Brown’s perspectives help both clients and prospects to better understand and adapt to the constantly changing risk environment.

Most recent articles by Melissa R. Brown, CFA

Recessions, Expansions and Factor Performance: Not Much of a Factor-Timing Strategy

Given the recent inversion of the yield curve, and with companies like Apple guiding earnings estimates down, there’s more than just a whiff of a recession in the air.

Posted 01.18.19 Melissa R. Brown, CFA

A Shaky Start for Factor Returns, Especially in the US

With just nine days of factor returns for 2019, we have already seen sharp reversals of fortune in some factors, and an abundance of larger-than-expected returns in the US.

Posted 01.15.19 Melissa R. Brown, CFA

Minimum Variance Has Delivered in This Downturn

One of the major advantages of minimum variance strategies is that the lower-than-market volatility and beta should pay off by offering protection when the market stumbles, as it has recently.

Posted 12.21.18 Melissa R. Brown, CFA

Crowded Trades Don’t Explain Managers’ Recent Pain

A summary of our analysis of the speculation that there has been a large unwinding of crowded risk-factor positions.

Posted 12.19.18 Melissa R. Brown, CFA

Plenty of Yellow Vests, but Few Yellow Flags

France’s Finance Minister Bruno Le Maire believes the recent protests will have a severe impact on the French economy—but that remains to be seen.

Posted 12.11.18 Melissa R. Brown, CFA