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The Impact of AI on SaaS: A Risk Framework for Investors
April 2026
The Impact of AI on SaaS: A Risk Framework for Investors
Artificial intelligence (AI) models have advanced at an astonishing pace and constitute a real challenge to the software-as-a-service (SaaS) industry. Read time: 9 min
By Jim Masturzo
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When Will AI Be Both Powerful and Profitable?
April 2026
When Will AI Be Both Powerful and Profitable?
Historic infrastructure spending in today’s AI boom may not create value for investors because AI hardware becomes economically obsolete before it is physically obsolete. The result may be capital churn, not capital deepening. Read time: 7 min
By Chris Brightman
Winning the Long Game with RAFI
March 2026
Winning the Long Game with RAFI
The Research Affiliates Fundamental Index (RAFI) is the utility player of investment portfolios. It avoids cap weighting’s concentration risk, improves the implementation of value, and delivers the diversification benefits of equal weighting. Read time: 8 min
By Ari Polychronopoulos, Grant Kasser
Why Value, Quality, and Momentum Belong Together
March 2026
Why Value, Quality, and Momentum Belong Together
Research Affiliates’ active equity investment process integrates signals for value, quality, and momentum to improve robustness across regimes. It also mitigates behavioral pitfalls and remains grounded in economic intuition. Read time: 16 min
By Que Nguyen, Noah Beck
Should Trend Follow Carry: Lessons from Bonds, Gold, and 2022
February 2026
Should Trend Follow Carry: Lessons from Bonds, Gold, and 2022
Carry conditioning has benefited trend strategies, especially stocks and bonds, but it is not a one-size-fits-all proposition and the filtering decision requires several critical considerations. Read time: 24 min
By Jim Masturzo, Colin Suvak
Everything Everywhere All at Once: Conglomerates and the Disappearing Diversification Discount
February 2026
Everything Everywhere All at Once: Conglomerates and the Disappearing Diversification Discount
Modern conglomerates Alphabet, Apple, Amazon, and Microsoft average a “diversification premium” of 70%, or a combined $5.62 trillion. Read time: 12 min
By Noah Beck, Que Nguyen
2025’s Implications for the Future: “Some Like it Hot"?
January 2026
2025’s Implications for the Future: “Some Like it Hot"?
A review of major asset class returns in 2025 indicates a new market regime of higher inflation, volatility, and nominal growth along with debt-and-deficit-constrained fiscal policy and “run-it-hot” monetary policy is emerging. Read time: 20 min
By Jim Masturzo
Rising Expected Returns in the Land of the Rising Sun
January 2026
Rising Expected Returns in the Land of the Rising Sun
Research Affiliates’ active equity investment process integrates signals for value, quality, and momentum to improve robustness across regimes. It also mitigates behavioral pitfalls and remains grounded in economic intuition. Read time: 6 min
By Colin Suvak
Trifecta: A Fundamental Revolution in Indexing
January 2026
Trifecta: A Fundamental Revolution in Indexing
Research Affiliates Trifecta refers to selecting stocks for value, core, and growth indices based on their actual economic footprint – sales, cash flow, dividends and book value – and offer an alternative to capitalization weighting. Read time: 17 min
By Chris Brightman, Rob Arnott
Financialization: How Deficits Inflate Profits and Equity Valuations
December 2025
Financialization: How Deficits Inflate Profits and Equity Valuations
Chronic fiscal deficits stimulate consumption and flow into corporate profits that are then recycled into price-indifferent passive funds, inflating market valuations. Read time: 12 min
By Chris Brightman, Alex Pickard
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In The News

 

Wall Street Journal
March 2026
How Far Can Big Tech’s Conglomerate Premium Go?
Barron's
March 2026
Defensive Sectors Stand Out as Geopolitical Risks Rise
Bloomberg
March 2026
Que Nguyen Highlights Energy as Markets Rethink Diversification
Barron's
February 2026
Que Nguyen and Noah Beck Assess Capital Allocation Risks in Big Tech
Wall Street Journal
February 2026
Research Affiliates’ AAI Data Highlights Valuation Gaps Behind Crowded Trades
Bloomberg
February 2026
Que Nguyen Challenges Traditional Definitions of Value and Growth
Bloomberg
February 2026
Que Nguyen Sees Valuation Discipline Returning to AI Stocks
Barron's
February 2026
Jim Masturzo Flags Bond Yield Risks and Market Volatility
CFA Institute Research Foundation
February 2026
Rob Arnott on Why Generational Wealth Fades
Wall Street Journal
January 2026
Rob Arnott Assesses Market Implications of Shifting Fed Leadership
MORE IN THE NEWS

RA Papers On SSRN

 

November 20, 2025
Financialization: How Fiscal Policy Has Inflated Profits and Equity Valuations
September 22, 2025
Revaluation Alpha
August 25, 2025
A Tail of Five Skews
May 19, 2025
Passive Aggressive: The Risks of Passive Investing Dominance
May 19, 2025
Does Fiscal Stimulus Stimulate?
April 08, 2025
The EV Shakeout
February 07, 2025
Fear, Not Risk, Explains Asset Pricing