Active Equity Investing: Strategies

Free CFA Level III: Portfolio Management lesson in Active Equity Investing. 16 min read, ~2,375 words.

Fundamental managers think in narratives, hold concentrated books, and accept high active risk; quants think in distributions, hold breadth, and exploit small edges across many names. Bottom-up starts with the company, top-down with the macro regime, factor-based with persistent drivers (value, momentum, quality, size, low-vol, profitability). Both approaches fit IR...

What this lesson covers

• Content
• Example 1
• Example 2
• Common Mistakes
• Check Your Understanding
• Exam Shortcuts

Learning objectives

• active equity strategies
• active equity construction

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