---
product_id: 36048083
title: "Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today"
price: "66 kr"
currency: DKK
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reviews_count: 9
url: https://www.desertcart.dk/products/36048083-your-complete-guide-to-factor-based-investing-the-way-smart
store_origin: DK
region: Denmark
---

# Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today

**Price:** 66 kr
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- **What is this?** Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today
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## Description

desertcart.com: Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today: 9780692783658: Berkin, Andrew L, Swedroe, Larry E: Books

Review: Learned a lot - Your Complete Guide to Factor-Based Investing is an excellent resource for anyone looking to deepen their understanding of smart investment strategies. The book breaks down complex concepts like value, momentum, size, quality, and low volatility factors into clear, actionable insights. Whether you’re a beginner or an experienced investor, the explanations are accessible and supported by solid research and real-world examples. I especially appreciated how the guide emphasizes practical application, helping readers understand how to build diversified portfolios that can potentially enhance returns and manage risk. The writing style is straightforward and engaging, making it easy to follow even the more technical sections. Overall, this book is a must-read for investors who want a comprehensive yet understandable introduction to factor investing. It empowers you with the knowledge to make more informed investment decisions and craft strategies aligned with your goals.
Review: Answers the questions about factor investing you've always had but were afraid to ask - Andrew Berkin and Larry Swedroe's, Your Complete Guide to Factor-based Investing, is an excellent and timely book for anyone who wants to learn about investable factors that influence returns and who desires to design a diversified portfolio that will attempt to capture them. As I write this review the mutual fund industry is well underway in a secular shift from high cost active to low cost index/passive (and active) funds. For the retail investor this shift has opened up many opportunities for low(er) cost factor based investing. This book will help its reader understand the literature and support for such strategies. The book begins with a thoughtful forward by AQR Co-Founder and Managing Principal Cliff Asness (a treat in itself). Then, in short order Berkin and Swedroe address the current factor zoo in the literature and define those factors that are deemed worthy of investment (have provided a premium) and that also meet the requirements of being persistent, pervasive, robust, investable and intuitive. This book is a treasure trove for both the retail investor and the advisor who wishes to understand in greater detail the factors that influence portfolio performance (from an evidence-based perspective). While Antti Ilmanen’s Expected Returns is a definitive tome on the subject, Berkin and Swedroe accomplish similar results with much greater readability (and many fewer pages)- particularly for the lay person. The book begins with a straight-forward discussion of the CAPM model (which explains ~70% of portfolio returns), and its flaws. It then moves on discuss Fama and French’s famous work on the three factor model (market beta, size and value). Adding to these factors that now explain most (>90%) of portfolio returns they address other useful factors: Mark Carhart’s work on momentum, as well as profitability, quality, term and carry. If you recognize these terms but don’t know what they mean, this is the book for you. If you’re already familiar with these terms and concepts the book will still teach you something, such as why anomalies persist and the limits to arbitrage. For those wishing to adopt a (multi)factor strategy the book also discusses tracking error regret and it evokes the work of Nassim Taleb to point out the flaws of misunderstanding the difference between strategy and outcome. The authors go out of their way to say the best strategy to pursue is the one you can stick with. The appendices in the back are particularly useful. Some selected topics include: the truth about smart beta, dividends are not a factor, time series momentum, and the marginal utility of incremental factors in fund returns. There’s even a discussion of sports betting and asset pricing (sure to get your attention). But the real meat and potatoes appendix for those converts to passive (rules based) factor investing are the tables for implementing these strategies with mutual funds and ETFs. Of course, the usual suspects will appear (the low cost providers of market beta (Vanguard, iShares, Fidelity, and increasingly Schwab), as well as the biggest bang for your buck factor exposure providers, Bridgeway, DFA and AQR). However, for those investors who choose to go it alone (without an RIA) there are also options listed for exposure to market beta, size, large/value, small/value, mom, profitability/quality, term, carry and multi-style funds from other fund families. In summary this is a very approachable and readable book for anyone interested in learning more about markets and the risk factors that influence returns. It’s well worth your time to read it and you’ll find yourself referencing it from time to time. In my opinion it’s Swedroe’s best book and that’s saying something.

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | #763,531 in Books ( See Top 100 in Books ) #353 in Investment Portfolio Management #1,245 in Introduction to Investing |
| Customer Reviews | 4.5 4.5 out of 5 stars (294) |
| Dimensions  | 5.51 x 8.5 x 0.8 inches |
| ISBN-10  | 0692783652 |
| ISBN-13  | 978-0692783658 |
| Item Weight  | 7.4 ounces |
| Language  | English |
| Print length  | 362 pages |
| Publication date  | October 7, 2016 |
| Publisher  | Buckingham |

## Images

![Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today - Image 1](https://m.media-amazon.com/images/I/71ajWs2Yz8L.jpg)
![Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today - Image 2](https://m.media-amazon.com/images/I/71ULwvqa5fL.jpg)

## Customer Reviews

### ⭐⭐⭐⭐⭐ Learned a lot
*by A***R on August 10, 2025*

Your Complete Guide to Factor-Based Investing is an excellent resource for anyone looking to deepen their understanding of smart investment strategies. The book breaks down complex concepts like value, momentum, size, quality, and low volatility factors into clear, actionable insights. Whether you’re a beginner or an experienced investor, the explanations are accessible and supported by solid research and real-world examples. I especially appreciated how the guide emphasizes practical application, helping readers understand how to build diversified portfolios that can potentially enhance returns and manage risk. The writing style is straightforward and engaging, making it easy to follow even the more technical sections. Overall, this book is a must-read for investors who want a comprehensive yet understandable introduction to factor investing. It empowers you with the knowledge to make more informed investment decisions and craft strategies aligned with your goals.

### ⭐⭐⭐⭐⭐ Answers the questions about factor investing you've always had but were afraid to ask
*by B***Y on December 23, 2016*

Andrew Berkin and Larry Swedroe's, Your Complete Guide to Factor-based Investing, is an excellent and timely book for anyone who wants to learn about investable factors that influence returns and who desires to design a diversified portfolio that will attempt to capture them. As I write this review the mutual fund industry is well underway in a secular shift from high cost active to low cost index/passive (and active) funds. For the retail investor this shift has opened up many opportunities for low(er) cost factor based investing. This book will help its reader understand the literature and support for such strategies. The book begins with a thoughtful forward by AQR Co-Founder and Managing Principal Cliff Asness (a treat in itself). Then, in short order Berkin and Swedroe address the current factor zoo in the literature and define those factors that are deemed worthy of investment (have provided a premium) and that also meet the requirements of being persistent, pervasive, robust, investable and intuitive. This book is a treasure trove for both the retail investor and the advisor who wishes to understand in greater detail the factors that influence portfolio performance (from an evidence-based perspective). While Antti Ilmanen’s Expected Returns is a definitive tome on the subject, Berkin and Swedroe accomplish similar results with much greater readability (and many fewer pages)- particularly for the lay person. The book begins with a straight-forward discussion of the CAPM model (which explains ~70% of portfolio returns), and its flaws. It then moves on discuss Fama and French’s famous work on the three factor model (market beta, size and value). Adding to these factors that now explain most (>90%) of portfolio returns they address other useful factors: Mark Carhart’s work on momentum, as well as profitability, quality, term and carry. If you recognize these terms but don’t know what they mean, this is the book for you. If you’re already familiar with these terms and concepts the book will still teach you something, such as why anomalies persist and the limits to arbitrage. For those wishing to adopt a (multi)factor strategy the book also discusses tracking error regret and it evokes the work of Nassim Taleb to point out the flaws of misunderstanding the difference between strategy and outcome. The authors go out of their way to say the best strategy to pursue is the one you can stick with. The appendices in the back are particularly useful. Some selected topics include: the truth about smart beta, dividends are not a factor, time series momentum, and the marginal utility of incremental factors in fund returns. There’s even a discussion of sports betting and asset pricing (sure to get your attention). But the real meat and potatoes appendix for those converts to passive (rules based) factor investing are the tables for implementing these strategies with mutual funds and ETFs. Of course, the usual suspects will appear (the low cost providers of market beta (Vanguard, iShares, Fidelity, and increasingly Schwab), as well as the biggest bang for your buck factor exposure providers, Bridgeway, DFA and AQR). However, for those investors who choose to go it alone (without an RIA) there are also options listed for exposure to market beta, size, large/value, small/value, mom, profitability/quality, term, carry and multi-style funds from other fund families. In summary this is a very approachable and readable book for anyone interested in learning more about markets and the risk factors that influence returns. It’s well worth your time to read it and you’ll find yourself referencing it from time to time. In my opinion it’s Swedroe’s best book and that’s saying something.

### ⭐⭐⭐⭐ Good Primer on Factor Investing, Little Actionable Practical Guidance for Factor Investing
*by P***N on August 14, 2025*

The book is a great primer for the ideas about Factor Investing. However, the book describes long-short portfolios and does not include much practical information regarding implementation. I will say that most retail investors, and low risk investors, may tilt a long only portfolio, but long short portfolios are expensive and the short component of a long-short portfolio creates infinite risk, as the assets must be returned no matter how high their price has risen.

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*Product available on Desertcart Denmark*
*Store origin: DK*
*Last updated: 2026-04-24*