-
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Past performance does not guarantee future results.
As of January 31, 2024
Source: Shiller Data and AllianceBernstein (AB)
Past performance does not guarantee future results.
Real equity returns are the average annualized five-year total returns of the S&P 500 adjusted for the change in the US consumer price index (CPI). Real bond returns are the average annualized five-year total returns of US 10-year Treasury bonds (constant duration) less the realized change in CPI data through January 31, 2024.
As of January 31, 2024
Source: Shiller Data and AB
Past performance does not guarantee future results.
*Profitability ratio: return on assets/cost of capital. Methodology: We randomly selected firms from monthly data ranging from February 1982 through February 2024. For each date, we measured the firm’s trailing five-year median return on assets and discount rate to form the profit ratio for that firm as of that date. Each sample consisted of 10,000 such observations. We formed percentiles for each sample and repeated this procedure 100 times. We then averaged the percentile boundaries to arrive at the final percentile estimates.
As of February 29, 2024
Source: S&P Compustat and AB
Past performance and current analysis do not guarantee future results.
*Based on the Russell 1000 Value and Russell 1000 Growth returns from January 2010 to December 2023. All index returns shown in US-dollar terms. Numbers may not sum due to rounding.
As of December 31, 2023
Source: FactSet, MSCI, S&P Compustat and AB
The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.
Nelson Yu is a Senior Vice President, Head of Equities and a member of the firm’s Operating Committee. As Head of Equities, he is responsible for the management and strategic growth of AB’s equities business and investment decisions across the department. Since 1993, Yu has experience generating investment success in global equity markets by joining fundamental research with rigorous quantitative methods. He joined AB in 1997 as a programmer and analyst, and served as head of Quantitative Equity Research from 2014–2021. Since 2017, Yu also served as head of Multi-Style Core Equity strategies, with over $10 billion in assets. Most recently, he was CIO of Equities Investment Sciences and Insights, which brings together resources across Data Science, Quantitative Research, Advisory Services, Risk and Global Execution to deliver differentiated capabilities and insights to AB’s equities investment platform. Prior to joining AB, Yu was a supervising consultant at Grant Thornton. He holds a BSE in systems engineering from the University of Pennsylvania and a BS in Economics from the Wharton School at the University of Pennsylvania. Yu is a CFA charterholder. Location: New York