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BRI L/S Equity Index Down -0.27% In December

BRI Partners, a provider of investable indices, published its monthly indices updates today. Its Long/Short Equity Index was down -0.27% in December, finishing calendar 2017 at an appreciation of 13.73%. its Dynamic Growth & Value Index was up 0.06% and its Quality Small Cap was down -2.38%. The firm's commentary said "December saw a notable under-performance by the various "high quality" factors within small-cap stocks. This "missing risk premium" amounted to about 1.5% of out-performance of higher-volatility, unprofitable stocks within the small-cap universe. This type of performance differential is generally indicative of an indiscriminate "risk on" bid which was consistent with the broader macro...