Before It’s Too Late: Using Lumber and Gold To Actively Manage Stocks and Bonds

Michael A. Gayed authored five award-winning white papers on stock market anomalies from 2014 to 2020, one of which is the 2015 Founders Award study titled “Lumber: Worth Its Weight in Gold Offense and Defense in Active Portfolio Management.” His paper documents how Lumber and Gold can be used as signals for managing investment portfolios. This eye-opening research focuses on the predictive power of two seemingly unrelated commodities which provide important information on the economic cycle, and risk-seeking behavior in various assets. His work has important implications for both asset allocators and active managers.

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