Vice President, MSCI Research
About the Contributor
Howard Zhang is a member of MSCI’s Equity Core Research team. His areas of expertise include equity factor models, data science and machine learning. Howard holds a master’s degree in mathematics of finance from Columbia University. He is a CFA® charterholder and certified FRM.
HTML Displayer Portlet
Blog posts by Howard Zhang
Eyeing the Crowds from Multiple PerspectivesJul 8, 2021 George Bonne , Jay Yao , Howard Zhang
We observed historically notable crowding across factors, industries and stocks through the first half of 2021. Examining crowding from multiple perspectives and incorporating multiple data elements provides investors a more holistic view.
Hedge funds held heavy, relatively illiquid short positions in crowded stocks before the January 2021 short squeeze. We created a risk factor that added explanatory power and may provide insights into potential short squeezes and other risks.
How does one identify or quantify a bubble? We propose a framework for assessing the “bubbliness” of stocks and portfolios, rooted in the idea that bubbles are driven by the same forces, and share characteristics with crowded trades.
Measuring Firms’ Remote-Workforce AbilitiesJul 14, 2020 Howard Zhang , Daniel R. Barrera , Manuel Rueda
It’s clear that some companies were better positioned to take advantage of a remote work environment than others. We built a hypothetical “remote-operation capacity” factor to seek to measure the effect on different firms.