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{{Short description|Dutch fund manager}}
{{Short description|Dutch fund manager}}
'''Pim van Vliet''' (born 30 September 1977) is a Dutch fund manager specializing in quantitative investment strategies, with a focus on low-volatility equities. As the head of conservative equities at Robeco Quantitative Investments, van Vliet has contributed to the field through both academic research and practical investment management.{{Infobox person
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'''Pim van Vliet''' (born 30 September 1977) is a Dutch fund manager and head of conservative equities at Robeco Quantitative Investments.

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== Education ==
== Education ==
Pim van Vliet holds a PhD in finance and a Master's in Economics (cum laude) from [[Erasmus University Rotterdam]]. He has a [[history]] degree and successfully completed a [[Thesis|dissertation]] on Downside Risk and Empirical Asset Pricing in 2004.<ref>{{Cite web|title=PhD Track: Downside Risk And Empirical Asset Pricing|url=https://www.erim.eur.nl/doctoral-programme/phd-in-management/phd-tracks/detail/309-downside-risk-and-empirical-asset-pricing/|access-date=2022-01-26|website=www.erim.eur.nl|language=en}}</ref>
Pim van Vliet holds a PhD in finance and a Master's in Economics (cum laude) from [[Erasmus University Rotterdam]]. He has a [[history]] degree and completed a [[Thesis|dissertation]] on Downside Risk and Empirical Asset Pricing in 2004.<ref>{{Cite web|title=PhD Track: Downside Risk And Empirical Asset Pricing|url=https://www.erim.eur.nl/doctoral-programme/phd-in-management/phd-tracks/detail/309-downside-risk-and-empirical-asset-pricing/|access-date=2022-01-26|website=www.erim.eur.nl|language=en}}</ref>


== Career ==
== Career ==
In 2005, van Vliet joined Robeco, transitioning from academia to the role of a [[quantitative fund]] analyst developing and managing quantitative strategies. In 2006, he founded several Robeco's Conservative Equity strategies and currently serves as Chief Quantitative Strategist.<ref>{{Cite web |title=Citywire Fund Managers |url=https://citywire.com/funds-insider/manager/pim-van-vliet/d17262 |access-date=2022-01-26 |website=Citywire}}</ref> Throughout his career, van Vliet has contributed to the field of scientific investing through research papers and publications on [[Quantitative analysis (finance)|quantitative investing]] in general and [[low-volatility investing]] in particular.<ref name=":1" /><ref>{{Cite news |date=2019-08-29 |title=Fortune No Longer Favors the Bold In Markets: John Authers |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/newsletters/2019-08-29/fortune-no-longer-favors-the-bold-in-markets |access-date=2022-07-16}}</ref> In 2016 he wrote the investment book "High returns from Low risk" which aims to explain defensive equity investing in a simple way.<ref name=":0">{{Cite web |date=2022-04-19 |title=High Returns From Low Risk |url=http://www.paradoxinvesting.com/ |access-date=2023-08-15 |website=High Returns from Low Risk: A Remarkable Stock Market Paradox - Wiley - ISBN 1119351057 |language=en-US}}</ref>
Van Vliet's career transitioned from academia to finance in 2005 when he joined Robeco as a [[quantitative fund]] analyst. In 2006, he initiated Robeco's Conservative Equity strategies, this development has been part of a broader shift within the finance industry towards quantitative, data-driven investment approaches. He has contributed to the field through research papers and publications on [[Quantitative analysis (finance)|quantitative investing]] and the area of [[low-volatility investing]] .<ref name=":1" /><ref>{{Cite news |date=2019-08-29 |title=Fortune No Longer Favors the Bold In Markets: John Authers |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/newsletters/2019-08-29/fortune-no-longer-favors-the-bold-in-markets |access-date=2022-07-16}}</ref> In 2016 he wrote the investment book which explains defensive equity investing to a broad audience.<ref name=":0">{{Cite web |date=2022-04-19 |title=High Returns From Low Risk |url=http://www.paradoxinvesting.com/ |access-date=2023-08-15 |website=High Returns from Low Risk: A Remarkable Stock Market Paradox - Wiley - ISBN 1119351057 |language=en-US}}</ref>


Van Vliet has participated in various podcasts and webinars, contributing insights on investment strategies and financial research.<ref>{{Cite web |last=Faber |first=Meb |date=2018-09-12 |title=Episode #121: Pim van Vliet, Robeco, "The Reality Is High-Risk Stocks Earn Low Returns" |url=https://mebfaber.com/2018/09/12/episode-121-pim-van-vliet-the-reality-is-high-risk-stocks-earn-low-returns/ |access-date=2022-01-26 |website=Meb Faber Research – Stock Market and Investing Blog |language=en-US}}</ref><ref>{{Cite web |date=2023-08-03 |title=Episode 264: Pim van Vliet: The Volatility Effect, Revisited |url=https://rationalreminder.ca/podcast/264 |access-date=2023-08-15 |website=Rational Reminder |language=en-US}}</ref> He has also been cited as a fund manager in financial publications such as the Financial Times, Reuters, and Institutional Investor.<ref>{{Cite news |date=2012-03-11 |title=Low or no returns send investors chasing 'smart beta' |work=Financial Times |url=https://www.ft.com/content/f5677e2a-690d-11e1-956a-00144feabdc0 |access-date=2022-01-26}}</ref><ref>{{Cite web |title=The Revenge of the Chart Watchers |url=https://www.institutionalinvestor.com/article/b1c98rq2gy9m7n/The-Revenge-of-the-Chart-Watchers |access-date=2022-01-26 |website=Institutional Investor |date=17 December 2018 |language=en-gb}}</ref><ref>{{Cite web |title=Robeco QI Emerging Conservative Equities M $, LU0910073559:USD summary - FT.com |url=https://markets.ft.com/data/funds/tearsheet/summary?s=LU0910073559:USD |access-date=2022-01-26 |website=markets.ft.com}}</ref><ref>{{Cite news |date=2011-11-11 |title=Robeco's van Vliet looks to ride volatility wave |language=en |work=Reuters |url=https://www.reuters.com/article/uk-vin-vam-pillet-idUKLNE7AA03M20111111 |access-date=2023-01-26}}</ref> His extensive research in the field of [[Quantitative analysis (finance)|quantitative investing]], spanning historical data covering over a century, has garnered notable attention and recognition. Notably, his historical analysis was featured in articles by [[Bloomberg News|Bloomberg]] and by the [[The Washington Post|Washington Post]].<ref>{{Cite news |date=2019-02-07 |title=Eternal Market Patience Offers Eternal Rewards |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/opinion/articles/2019-02-07/eternal-market-patience-offers-eternal-rewards |access-date=2022-07-16}}</ref><ref>{{Cite news |date=2019-11-27 |title=There's a Wrecking Ball Swinging at Hedge Funds |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/newsletters/2019-11-27/quant-paper-swings-an-academic-wrecking-ball-at-hedge-funds-k3gtngb3 |access-date=2022-07-16}}</ref><ref>{{Cite news |title=Analysis {{!}} The Fed Signals It's Not for Turning, But Markets Are |language=en-US |newspaper=Washington Post |url=https://www.washingtonpost.com/business/energy/the-fed-signals-its-not-for-turning-butmarkets-are/2022/07/07/704120fe-fdc0-11ec-b39d-71309168014b_story.html |access-date=2022-07-12 |issn=0190-8286}}</ref> Furthermore, he has contributed articles on [[factor investing]] to peer-reviewed academic journals, including the [[Journal of Financial Economics]],<ref name=":2" /> [[CFA Institute|Financial Analyst Journal]],<ref name=":3" /> [[Management Science (journal)|Management Science]],<ref>{{Cite web |title=JSTOR: Search Results |url=https://www.jstor.org/action/doBasicSearch?si=1&Query=au:%22Pim+van+Vliet%22&so=rel |access-date=2022-07-12 |website=www.jstor.org}}</ref> [[Journal of Banking and Finance]],<ref name=":6" /> and [[The Journal of Portfolio Management]].<ref name=":4" /><ref name=":5" />
His expertise has led to appearances on podcasts and webinars.<ref>{{Cite web |last=Faber |first=Meb |date=2018-09-12 |title=Episode #121: Pim van Vliet, Robeco, "The Reality Is High-Risk Stocks Earn Low Returns" |url=https://mebfaber.com/2018/09/12/episode-121-pim-van-vliet-the-reality-is-high-risk-stocks-earn-low-returns/ |access-date=2022-01-26 |website=Meb Faber Research – Stock Market and Investing Blog |language=en-US}}</ref><ref>{{Cite web |date=2023-08-03 |title=Episode 264: Pim van Vliet: The Volatility Effect, Revisited |url=https://rationalreminder.ca/podcast/264 |access-date=2023-08-15 |website=Rational Reminder |language=en-US}}</ref> and citations in the Financial Times, Reuters, and Institutional Investor.<ref>{{Cite news |date=2012-03-11 |title=Low or no returns send investors chasing 'smart beta' |work=Financial Times |url=https://www.ft.com/content/f5677e2a-690d-11e1-956a-00144feabdc0 |access-date=2022-01-26}}</ref><ref>{{Cite web |title=The Revenge of the Chart Watchers |url=https://www.institutionalinvestor.com/article/b1c98rq2gy9m7n/The-Revenge-of-the-Chart-Watchers |access-date=2022-01-26 |website=Institutional Investor |date=17 December 2018 |language=en-gb}}</ref><ref>{{Cite web |title=Robeco QI Emerging Conservative Equities M $, LU0910073559:USD summary - FT.com |url=https://markets.ft.com/data/funds/tearsheet/summary?s=LU0910073559:USD |access-date=2022-01-26 |website=markets.ft.com}}</ref><ref>{{Cite news |date=2011-11-11 |title=Robeco's van Vliet looks to ride volatility wave |language=en |work=Reuters |url=https://www.reuters.com/article/uk-vin-vam-pillet-idUKLNE7AA03M20111111 |access-date=2023-01-26}}</ref> His research in the field of [[Quantitative analysis (finance)|quantitative investing]], spanning historical data covering over a century, was featured in articles by [[Bloomberg News|Bloomberg]] and by the [[The Washington Post|Washington Post]].<ref>{{Cite news |date=2019-02-07 |title=Eternal Market Patience Offers Eternal Rewards |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/opinion/articles/2019-02-07/eternal-market-patience-offers-eternal-rewards |access-date=2022-07-16}}</ref><ref>{{Cite news |date=2019-11-27 |title=There's a Wrecking Ball Swinging at Hedge Funds |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/newsletters/2019-11-27/quant-paper-swings-an-academic-wrecking-ball-at-hedge-funds-k3gtngb3 |access-date=2022-07-16}}</ref><ref>{{Cite news |title=Analysis {{!}} The Fed Signals It's Not for Turning, But Markets Are |language=en-US |newspaper=Washington Post |url=https://www.washingtonpost.com/business/energy/the-fed-signals-its-not-for-turning-butmarkets-are/2022/07/07/704120fe-fdc0-11ec-b39d-71309168014b_story.html |access-date=2022-07-12 |issn=0190-8286}}</ref> Furthermore, he has contributed articles on [[factor investing]] to peer-reviewed academic journals, including the [[Journal of Financial Economics]], [[CFA Institute|Financial Analyst Journal]], [[Management Science (journal)|Management Science]], [[Journal of Banking and Finance]], and [[The Journal of Portfolio Management]].


== Selected publications ==
== Selected publications ==
Pim has authored over 30 [[Academic journal|academic]] papers and an investment book, contributing significantly to the study of the [[low-volatility anomaly]]. His collaborations have included co-authors such as [[Guido Baltussen]], [[David C. Blitz|David Blitz]], [[Eric Falkenstein]], Haim Levy, and others. His papers have been widely accessed, exceeding 100,000 on the [[Social Science Research Network]] (SSRN).<ref name=":1">{{Cite web|title=Author Page for Pim van Vliet :: SSRN|url=https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=296465|access-date=2022-01-26|website=papers.ssrn.com}}</ref> As of 2023, his h-index stands at 12 (Scopus) and 20 (Scholar).<ref>{{Cite web|title=Scopus preview – Van Vliet, Pim – Author details – Scopus|url=https://www.scopus.com/authid/detail.uri?authorId=56216642700|access-date=2022-01-26|website=www.scopus.com}}</ref><ref>{{Cite web|title=Google Scholar: Author Pim van Vliet|url=https://scholar.google.com/citations?user=p68dvE8AAAAJ&hl=en|access-date=2022-01-26|website=Google Scholar}}</ref> Noteworthy publications include:
Pim has authored a large number of [[Academic journal|academic]] papers and an investment book, contributing to the study of the [[low-volatility anomaly]]. His collaborations have included co-authors such as [[Guido Baltussen]], [[David C. Blitz|David Blitz]], [[Eric Falkenstein]], Haim Levy, and others. His papers have been widely accessed, exceeding 100,000 on the [[Social Science Research Network]] (SSRN).<ref name=":1">{{Cite web|title=Author Page for Pim van Vliet :: SSRN|url=https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=296465|access-date=2022-01-26|website=papers.ssrn.com}}</ref> As of 2023, his h-index stands at 12 (Scopus) and 20 (Scholar).<ref>{{Cite web|title=Scopus preview – Van Vliet, Pim – Author details – Scopus|url=https://www.scopus.com/authid/detail.uri?authorId=56216642700|access-date=2022-01-26|website=www.scopus.com}}</ref><ref>{{Cite web|title=Google Scholar: Author Pim van Vliet|url=https://scholar.google.com/citations?user=p68dvE8AAAAJ&hl=en|access-date=2022-01-26|website=Google Scholar}}</ref> Noteworthy publications include:


* Global Factor Premiums, with Guido Baltussen and Laurens Swinkels, Journal of Financial Economics, 2021.<ref name=":2">{{Cite journal|last1=Baltussen|first1=Guido|last2=Swinkels|first2=Laurens|last3=Van Vliet|first3=Pim|date=2021-12-01|title=Global factor premiums|journal=Journal of Financial Economics|language=en|volume=142|issue=3|pages=1128–1154|doi=10.1016/j.jfineco.2021.06.030|s2cid=237984578|issn=0304-405X|doi-access=free}}</ref>
* Global Factor Premiums, with Guido Baltussen and Laurens Swinkels, Journal of Financial Economics, 2021.<ref name=":2">{{Cite journal|last1=Baltussen|first1=Guido|last2=Swinkels|first2=Laurens|last3=Van Vliet|first3=Pim|date=2021-12-01|title=Global factor premiums|journal=Journal of Financial Economics|language=en|volume=142|issue=3|pages=1128–1154|doi=10.1016/j.jfineco.2021.06.030|s2cid=237984578|issn=0304-405X|doi-access=free}}</ref>
* When Equity Factors Drop Their Shorts, with David Blitz and Guido Baltussen, Financial Analyst Journal, 2020.<ref name=":3">{{Cite journal|last1=Blitz|first1=David|last2=Baltussen|first2=Guido|last3=van Vliet|first3=Pim|date=2020-10-23|title=When Equity Factors Drop Their Shorts|journal=Financial Analysts Journal|volume=76|issue=4|pages=73–99|doi=10.1080/0015198X.2020.1779560|s2cid=225056464|issn=0015-198X|doi-access=free|hdl=1765/130144|hdl-access=free}}</ref>
* When Equity Factors Drop Their Shorts, with David Blitz and Guido Baltussen, Financial Analyst Journal, 2020.<ref name=":3">{{Cite journal|last1=Blitz|first1=David|last2=Baltussen|first2=Guido|last3=van Vliet|first3=Pim|date=2020-10-23|title=When Equity Factors Drop Their Shorts|journal=Financial Analysts Journal|volume=76|issue=4|pages=73–99|doi=10.1080/0015198X.2020.1779560|s2cid=225056464|issn=0015-198X|doi-access=free|hdl=1765/130144|hdl-access=free}}</ref>
* The Conservative Formula: Quantitative Investing made easy, with David Blitz, Journal of Portfolio Management, 2018.<ref name=":4">{{Cite journal|last1=Blitz|first1=David|last2=Vliet|first2=Pim van|date=2018-07-31|title=The Conservative Formula: Quantitative Investing Made Easy|url=https://jpm.pm-research.com/content/44/7/24|journal=The Journal of Portfolio Management|language=en|volume=44|issue=7|pages=24–38|doi=10.3905/jpm.2018.44.7.024|s2cid=158864563|issn=0095-4918}}</ref>
* The Conservative Formula: Quantitative Investing Made Easy, with David Blitz, Journal of Portfolio Management, 2018.<ref name=":4">{{Cite journal|last1=Blitz|first1=David|last2=Vliet|first2=Pim van|date=2018-07-31|title=The Conservative Formula: Quantitative Investing Made Easy|url=https://jpm.pm-research.com/content/44/7/24|journal=The Journal of Portfolio Management|language=en|volume=44|issue=7|pages=24–38|doi=10.3905/jpm.2018.44.7.024|s2cid=158864563|issn=0095-4918}}</ref>
* The Volatility Effect: Lower Risk without Lower Returns, with David Blitz, Journal of Portfolio Management, 2007.<ref name=":5">{{Cite journal|last1=Blitz|first1=David C.|last2=Vliet|first2=Pim van|date=2007-10-31|title=The Volatility Effect|url=https://jpm.pm-research.com/content/34/1/102|journal=The Journal of Portfolio Management|language=en|volume=34|issue=1|pages=102–113|doi=10.3905/jpm.2007.698039|s2cid=154015248|issn=0095-4918}}</ref>
* The Volatility Effect: Lower Risk without Lower Returns, with David Blitz, Journal of Portfolio Management, 2007.<ref name=":5">{{Cite journal|last1=Blitz|first1=David C.|last2=Vliet|first2=Pim van|date=2007-10-31|title=The Volatility Effect|url=https://jpm.pm-research.com/content/34/1/102|journal=The Journal of Portfolio Management|language=en|volume=34|issue=1|pages=102–113|doi=10.3905/jpm.2007.698039|s2cid=154015248|issn=0095-4918}}</ref>
* Risk aversion and skewness preference, with Haim Levy and Thierry Post, Journal of Banking and Finance, 2008.<ref name=":6">{{Cite journal|last1=Post|first1=Thierry|last2=van Vliet|first2=Pim|last3=Levy|first3=Haim|date=2008-07-01|title=Risk aversion and skewness preference|url=https://www.sciencedirect.com/science/article/pii/S037842660700297X|journal=Journal of Banking & Finance|language=en|volume=32|issue=7|pages=1178–1187|doi=10.1016/j.jbankfin.2006.02.008|issn=0378-4266}}</ref>
* Risk Aversion and Skewness Preference, with Haim Levy and Thierry Post, Journal of Banking and Finance, 2008.<ref name=":6">{{Cite journal|last1=Post|first1=Thierry|last2=van Vliet|first2=Pim|last3=Levy|first3=Haim|date=2008-07-01|title=Risk aversion and skewness preference|url=https://www.sciencedirect.com/science/article/pii/S037842660700297X|journal=Journal of Banking & Finance|language=en|volume=32|issue=7|pages=1178–1187|doi=10.1016/j.jbankfin.2006.02.008|issn=0378-4266}}</ref>


== Investment book ==
== Investment book ==
Titled: High Returns from Low Risk: a remarkable stock market paradox (2016), this collaborative effort by Pim van Vliet and Jan de Koning introduces the concept of the [[Conservative Formula Investing|Conservative Formula]], offering readers insights into a distinctive stock market paradox.<ref>{{Cite web |date=2022-04-19 |title=High Returns From Low Risk |url=http://www.paradoxinvesting.com/ |access-date=2023-08-15 |website=Book website: High Returns from Low Risk: A Remarkable Stock Market Paradox |language=en-US}}</ref> Translated into several languages, including Chinese, German, French, Spanish and Dutch.<ref>{{Cite journal |last1=杨斌艳 |last2=赵千 |last3=肖雪 |last4=Yang |first4=Binyan |last5=Zhao |first5=Qian |last6=Xiao |first6=Xue |date=2019 |title=我国"人工智能+"图书馆研究的发展态势分析 |url=http://dx.doi.org/10.31193/ssap.j.issn.2096-6695.2019.02.09 |journal=文献与数据学报 |volume=1 |issue=2 |pages=98–108 |doi=10.31193/ssap.j.issn.2096-6695.2019.02.09 |issn=2096-6695 |s2cid=213889519}}</ref><ref>{{Cite book |last=Vliet |first=Pim van |url=https://www.worldcat.org/oclc/964670961 |title=High returns from low risk der Weg zum eigenen stabilen Aktien-Portfolio |date=2017 |others=Jan de Koning, FinanzBuch Verlag |isbn=978-3-95972-020-5 |edition=1. Auflage |location=München |oclc=964670961}}</ref><ref>{{Cite web |title=Atlas Contact De conservatieve belegger – Pim van Vliet, Jan de Koning : Atlas Contact |url=https://www.atlascontact.nl/boek/de-conservatieve-belegger/ |access-date=2022-01-26 |website=www.atlascontact.nl}}</ref><ref>{{Cite web |title=Livre Un paradoxe financier étonnant - Economica - Finance |url=https://www.economica.fr/livre-un-paradoxe-financier-etonnant-c2x32209755 |access-date=2022-01-26 |website=www.economica.fr}}</ref><ref>{{Cite book |url=https://www.planetadelibros.com/libro-el-pequeno-libro-de-los-altos-rendimientos-con-bajo-riesgo/256065 |title=El pequeño libro de los altos rendimientos con bajo riesgo – Pim Van Vliet, Jan de Koning {{!}} PlanetadeLibros |language=es-es}}</ref> In 2017 it earned recognition by being ranked as the top must-read book on finance-monthly.com in 2017.<ref>{{Cite web|title=The Top 10 Must Read Finance Books of 2017|url=https://www.finance-monthly.com/2017/04/the-top-10-must-read-finance-books-of-2017/|access-date=2022-01-26|website=Finance Monthly {{!}} Monthly Finance News Magazine|date=28 April 2017 |language=en-GB}}</ref> Since then, it has garnered reviews from readers across the United States, Europe, and China. Notable reviews has been featured on platforms such as ETF.com, FT advisors, Trader Life UK, Stockopedia, El Mundo Financiero, Beleggers belangen, FocusMoney, Masterbourse and JD.com.<ref>{{Cite web |date=2018-05-23 |title=Beter beleggen met de kwantformule van Robeco |url=https://www.beleggersbelangen.nl/2018/05/23/kwantformule-van-robeco/ |access-date=2022-01-26 |website=Beleggers Belangen |language=en}}</ref><ref>{{Cite web |title=Book review: High Returns from Low Risk – looking at financial paradox |url=https://www.ftadviser.com/investments/2017/07/26/book-review-high-returns-from-low-risk-looking-at-financial-paradox/ |website=FT advisors}}</ref><ref>{{Cite web |title=7 new trading books you need on your bookshelf |url=https://traderlife.co.uk/culture/books/7-new-trading-books-you-need-on-your-bookshelf/ |website=Traderlife UK|date=August 2018 }}</ref><ref>{{Cite web |title=High Returns from Low Risk – Van Vliet – a book review and recommendation |url=https://www.stockopedia.com/content/high-returns-from-low-risk-van-vliet-a-book-review-and-recommendation-191909/ |access-date=2022-01-26 |website=Stockopedia |language=en}}</ref><ref>{{Cite web |last=FINANCIERO |first=EL MUNDO |title=El pequeño libro de los altos rendimientos con bajo riesgo |url=https://www.elmundofinanciero.com/noticia/73942/libros-recomendados/el-pequeno-libro-de-los-altos-rendimientos-con-bajo-riesgo.html |access-date=2022-01-26 |website=EL MUNDO FINANCIERO |language=es}}</ref><ref>{{Cite web |title=Swedroe: Explaining The Low Vol Anomaly |url=https://www.etf.com/sections/index-investor-corner/swedroe-explaining-low-vol-anomaly |website=ETF.com}}</ref><ref>{{Cite web |last=Online |first=FOCUS |title=Fabelhafte Renditen |url=https://www.focus.de/finanzen/money-magazin/low-vola-etf-fabelhafte-renditen_id_9567304.html |access-date=2022-01-26 |website=FOCUS Online |language=de}}</ref><ref>{{Cite web |date=2022-01-14 |title=37 livres sur la bourse classés par niveau pour 2022 |url=https://masterbourse.fr/articles/livres-sur-la-bourse/ |access-date=2022-01-26 |website=MasterBourse |language=fr-FR}}</ref><ref>{{Cite web|title=《低风险，高回报 一个引人注目的投资悖论 中信出版社》([荷]平·范·弗利特（Pim van Vliet） [荷]杨·德·科宁（Jan de Konin）)【摘要 书评 试读】- 京东图书|url=https://item.jd.com/12404931.html|access-date=2022-01-26|website=item.jd.com}}</ref>
In 'High Returns from Low Risk: A Remarkable Stock Market Paradox,' co-authored with Jan de Koning and published in 2016, van Vliet presents the 'Conservative Formula.' This work critiques prevailing market theories by positing that investments traditionally perceived as lower risk can yield higher returns. The book's reception highlights its contribution to ongoing debates in investment strategy, despite some skepticism regarding its counterintuitive premises.<ref>{{Cite web |date=2022-04-19 |title=High Returns From Low Risk |url=http://www.paradoxinvesting.com/ |access-date=2023-08-15 |website=Book website: High Returns from Low Risk: A Remarkable Stock Market Paradox |language=en-US}}</ref> It has been translated into several languages, including Chinese, German, French, Spanish and Dutch, has made van Vliet's research accessible to a global audience. <ref>{{Cite journal |last1=杨斌艳 |last2=赵千 |last3=肖雪 |last4=Yang |first4=Binyan |last5=Zhao |first5=Qian |last6=Xiao |first6=Xue |date=2019 |title=我国"人工智能+"图书馆研究的发展态势分析 |url=http://dx.doi.org/10.31193/ssap.j.issn.2096-6695.2019.02.09 |journal=文献与数据学报 |volume=1 |issue=2 |pages=98–108 |doi=10.31193/ssap.j.issn.2096-6695.2019.02.09 |issn=2096-6695 |s2cid=213889519}}</ref><ref>{{Cite book |last=Vliet |first=Pim van |url=https://www.worldcat.org/oclc/964670961 |title=High returns from low risk der Weg zum eigenen stabilen Aktien-Portfolio |date=2017 |others=Jan de Koning, FinanzBuch Verlag |isbn=978-3-95972-020-5 |edition=1. Auflage |location=München |oclc=964670961}}</ref><ref>{{Cite web |title=Atlas Contact De conservatieve belegger – Pim van Vliet, Jan de Koning : Atlas Contact |url=https://www.atlascontact.nl/boek/de-conservatieve-belegger/ |access-date=2022-01-26 |website=www.atlascontact.nl}}</ref><ref>{{Cite web |title=Livre Un paradoxe financier étonnant - Economica - Finance |url=https://www.economica.fr/livre-un-paradoxe-financier-etonnant-c2x32209755 |access-date=2022-01-26 |website=www.economica.fr}}</ref><ref>{{Cite book |url=https://www.planetadelibros.com/libro-el-pequeno-libro-de-los-altos-rendimientos-con-bajo-riesgo/256065 |title=El pequeño libro de los altos rendimientos con bajo riesgo – Pim Van Vliet, Jan de Koning {{!}} PlanetadeLibros |language=es-es}}</ref> The book received the distinction of being named a top must-read on finance-monthly.com in 2017 and has been reviewed by various platforms across the United States, Europe, and China.<ref>{{Cite web |date=28 April 2017 |title=The Top 10 Must Read Finance Books of 2017 |url=https://www.finance-monthly.com/2017/04/the-top-10-must-read-finance-books-of-2017/ |access-date=2022-01-26 |website=Finance Monthly {{!}} Monthly Finance News Magazine |language=en-GB}}</ref> <ref>{{Cite web |date=2018-05-23 |title=Beter beleggen met de kwantformule van Robeco |url=https://www.beleggersbelangen.nl/2018/05/23/kwantformule-van-robeco/ |access-date=2022-01-26 |website=Beleggers Belangen |language=en}}</ref><ref>{{Cite web |title=Book review: High Returns from Low Risk – looking at financial paradox |url=https://www.ftadviser.com/investments/2017/07/26/book-review-high-returns-from-low-risk-looking-at-financial-paradox/ |website=FT advisors}}</ref><ref>{{Cite web |title=7 new trading books you need on your bookshelf |url=https://traderlife.co.uk/culture/books/7-new-trading-books-you-need-on-your-bookshelf/ |website=Traderlife UK|date=August 2018 }}</ref><ref>{{Cite web |title=High Returns from Low Risk – Van Vliet – a book review and recommendation |url=https://www.stockopedia.com/content/high-returns-from-low-risk-van-vliet-a-book-review-and-recommendation-191909/ |access-date=2022-01-26 |website=Stockopedia |language=en}}</ref><ref>{{Cite web |last=FINANCIERO |first=EL MUNDO |title=El pequeño libro de los altos rendimientos con bajo riesgo |url=https://www.elmundofinanciero.com/noticia/73942/libros-recomendados/el-pequeno-libro-de-los-altos-rendimientos-con-bajo-riesgo.html |access-date=2022-01-26 |website=EL MUNDO FINANCIERO |language=es}}</ref><ref>{{Cite web |title=Swedroe: Explaining The Low Vol Anomaly |url=https://www.etf.com/sections/index-investor-corner/swedroe-explaining-low-vol-anomaly |website=ETF.com}}</ref><ref>{{Cite web |last=Online |first=FOCUS |title=Fabelhafte Renditen |url=https://www.focus.de/finanzen/money-magazin/low-vola-etf-fabelhafte-renditen_id_9567304.html |access-date=2022-01-26 |website=FOCUS Online |language=de}}</ref><ref>{{Cite web |date=2022-01-14 |title=37 livres sur la bourse classés par niveau pour 2022 |url=https://masterbourse.fr/articles/livres-sur-la-bourse/ |access-date=2022-01-26 |website=MasterBourse |language=fr-FR}}</ref><ref>{{Cite web|title=《低风险，高回报 一个引人注目的投资悖论 中信出版社》([荷]平·范·弗利特（Pim van Vliet） [荷]杨·德·科宁（Jan de Konin）)【摘要 书评 试读】- 京东图书|url=https://item.jd.com/12404931.html|access-date=2022-01-26|website=item.jd.com}}</ref>


== Award ==
== Award ==
Line 43: Line 40:


== Personal life ==
== Personal life ==
Pim lives in [[Berkel en Rodenrijs]], The Netherlands.<ref>{{Cite web|title=LinkedIn homepage|url=https://www.linkedin.com/in/pimvanvliet/}}</ref> In the investment book he describes that his father, an entrepreneur, taught him the virtues of saving and investing at a young age.<ref name=":0" />
Pim lives in [[Berkel en Rodenrijs]], The Netherlands.<ref>{{Cite web|title=LinkedIn homepage|url=https://www.linkedin.com/in/pimvanvliet/}}</ref> Van Vliet's early introduction to investing by his father has been a foundational influence on his career, a narrative he shares in his book to illustrate the long-term value of defensive investment strategies.<ref name=":0" />


== See also ==
== See also ==
* [[Quantitative investing|Quantitative Investing]]
* [[Low-volatility investing]]
* [[Momentum investing]]
* [[Momentum investing]]


Latest revision as of 11:41, 28 February 2024

Pim van Vliet (born 30 September 1977) is a Dutch fund manager specializing in quantitative investment strategies, with a focus on low-volatility equities. As the head of conservative equities at Robeco Quantitative Investments, van Vliet has contributed to the field through both academic research and practical investment management.

Pim van Vliet
Born (1977-09-30) September 30, 1977 (age 46)
Bodegraven, Netherlands
NationalityDutch
Alma materErasmus University Rotterdam
Occupation(s)Fund manager and Author
Known forQuantitative Investing
Notable workCo-authored "High Returns From Low Risk"

Education

[edit]

Pim van Vliet holds a PhD in finance and a Master's in Economics (cum laude) from Erasmus University Rotterdam. He has a history degree and completed a dissertation on Downside Risk and Empirical Asset Pricing in 2004.[1]

Career

[edit]

Van Vliet's career transitioned from academia to finance in 2005 when he joined Robeco as a quantitative fund analyst. In 2006, he initiated Robeco's Conservative Equity strategies, this development has been part of a broader shift within the finance industry towards quantitative, data-driven investment approaches. He has contributed to the field through research papers and publications on quantitative investing and the area of low-volatility investing .[2][3] In 2016 he wrote the investment book which explains defensive equity investing to a broad audience.[4]

His expertise has led to appearances on podcasts and webinars.[5][6] and citations in the Financial Times, Reuters, and Institutional Investor.[7][8][9][10] His research in the field of quantitative investing, spanning historical data covering over a century, was featured in articles by Bloomberg and by the Washington Post.[11][12][13] Furthermore, he has contributed articles on factor investing to peer-reviewed academic journals, including the Journal of Financial Economics, Financial Analyst Journal, Management Science, Journal of Banking and Finance, and The Journal of Portfolio Management.

Selected publications

[edit]

Pim has authored a large number of academic papers and an investment book, contributing to the study of the low-volatility anomaly. His collaborations have included co-authors such as Guido Baltussen, David Blitz, Eric Falkenstein, Haim Levy, and others. His papers have been widely accessed, exceeding 100,000 on the Social Science Research Network (SSRN).[2] As of 2023, his h-index stands at 12 (Scopus) and 20 (Scholar).[14][15] Noteworthy publications include:

  • Global Factor Premiums, with Guido Baltussen and Laurens Swinkels, Journal of Financial Economics, 2021.[16]
  • When Equity Factors Drop Their Shorts, with David Blitz and Guido Baltussen, Financial Analyst Journal, 2020.[17]
  • The Conservative Formula: Quantitative Investing Made Easy, with David Blitz, Journal of Portfolio Management, 2018.[18]
  • The Volatility Effect: Lower Risk without Lower Returns, with David Blitz, Journal of Portfolio Management, 2007.[19]
  • Risk Aversion and Skewness Preference, with Haim Levy and Thierry Post, Journal of Banking and Finance, 2008.[20]

Investment book

[edit]

In 'High Returns from Low Risk: A Remarkable Stock Market Paradox,' co-authored with Jan de Koning and published in 2016, van Vliet presents the 'Conservative Formula.' This work critiques prevailing market theories by positing that investments traditionally perceived as lower risk can yield higher returns. The book's reception highlights its contribution to ongoing debates in investment strategy, despite some skepticism regarding its counterintuitive premises.[21] It has been translated into several languages, including Chinese, German, French, Spanish and Dutch, has made van Vliet's research accessible to a global audience. [22][23][24][25][26] The book received the distinction of being named a top must-read on finance-monthly.com in 2017 and has been reviewed by various platforms across the United States, Europe, and China.[27] [28][29][30][31][32][33][34][35][36]

Award

[edit]

Citation of Excellence Award Issued by Emerald for paper "The Volatility Effect: Lower Risk without Lower Returns" in Journal of Portfolio Management.[37]

Personal life

[edit]

Pim lives in Berkel en Rodenrijs, The Netherlands.[38] Van Vliet's early introduction to investing by his father has been a foundational influence on his career, a narrative he shares in his book to illustrate the long-term value of defensive investment strategies.[4]

See also

[edit]

References

[edit]
  1. ^ "PhD Track: Downside Risk And Empirical Asset Pricing". www.erim.eur.nl. Retrieved 2022-01-26.
  2. ^ a b "Author Page for Pim van Vliet :: SSRN". papers.ssrn.com. Retrieved 2022-01-26.
  3. ^ "Fortune No Longer Favors the Bold In Markets: John Authers". Bloomberg.com. 2019-08-29. Retrieved 2022-07-16.
  4. ^ a b "High Returns From Low Risk". High Returns from Low Risk: A Remarkable Stock Market Paradox - Wiley - ISBN 1119351057. 2022-04-19. Retrieved 2023-08-15.
  5. ^ Faber, Meb (2018-09-12). "Episode #121: Pim van Vliet, Robeco, "The Reality Is High-Risk Stocks Earn Low Returns"". Meb Faber Research – Stock Market and Investing Blog. Retrieved 2022-01-26.
  6. ^ "Episode 264: Pim van Vliet: The Volatility Effect, Revisited". Rational Reminder. 2023-08-03. Retrieved 2023-08-15.
  7. ^ "Low or no returns send investors chasing 'smart beta'". Financial Times. 2012-03-11. Retrieved 2022-01-26.
  8. ^ "The Revenge of the Chart Watchers". Institutional Investor. 17 December 2018. Retrieved 2022-01-26.
  9. ^ "Robeco QI Emerging Conservative Equities M $, LU0910073559:USD summary - FT.com". markets.ft.com. Retrieved 2022-01-26.
  10. ^ "Robeco's van Vliet looks to ride volatility wave". Reuters. 2011-11-11. Retrieved 2023-01-26.
  11. ^ "Eternal Market Patience Offers Eternal Rewards". Bloomberg.com. 2019-02-07. Retrieved 2022-07-16.
  12. ^ "There's a Wrecking Ball Swinging at Hedge Funds". Bloomberg.com. 2019-11-27. Retrieved 2022-07-16.
  13. ^ "Analysis | The Fed Signals It's Not for Turning, But Markets Are". Washington Post. ISSN 0190-8286. Retrieved 2022-07-12.
  14. ^ "Scopus preview – Van Vliet, Pim – Author details – Scopus". www.scopus.com. Retrieved 2022-01-26.
  15. ^ "Google Scholar: Author Pim van Vliet". Google Scholar. Retrieved 2022-01-26.
  16. ^ Baltussen, Guido; Swinkels, Laurens; Van Vliet, Pim (2021-12-01). "Global factor premiums". Journal of Financial Economics. 142 (3): 1128–1154. doi:10.1016/j.jfineco.2021.06.030. ISSN 0304-405X. S2CID 237984578.
  17. ^ Blitz, David; Baltussen, Guido; van Vliet, Pim (2020-10-23). "When Equity Factors Drop Their Shorts". Financial Analysts Journal. 76 (4): 73–99. doi:10.1080/0015198X.2020.1779560. hdl:1765/130144. ISSN 0015-198X. S2CID 225056464.
  18. ^ Blitz, David; Vliet, Pim van (2018-07-31). "The Conservative Formula: Quantitative Investing Made Easy". The Journal of Portfolio Management. 44 (7): 24–38. doi:10.3905/jpm.2018.44.7.024. ISSN 0095-4918. S2CID 158864563.
  19. ^ Blitz, David C.; Vliet, Pim van (2007-10-31). "The Volatility Effect". The Journal of Portfolio Management. 34 (1): 102–113. doi:10.3905/jpm.2007.698039. ISSN 0095-4918. S2CID 154015248.
  20. ^ Post, Thierry; van Vliet, Pim; Levy, Haim (2008-07-01). "Risk aversion and skewness preference". Journal of Banking & Finance. 32 (7): 1178–1187. doi:10.1016/j.jbankfin.2006.02.008. ISSN 0378-4266.
  21. ^ "High Returns From Low Risk". Book website: High Returns from Low Risk: A Remarkable Stock Market Paradox. 2022-04-19. Retrieved 2023-08-15.
  22. ^ 杨斌艳; 赵千; 肖雪; Yang, Binyan; Zhao, Qian; Xiao, Xue (2019). "我国"人工智能+"图书馆研究的发展态势分析". 文献与数据学报. 1 (2): 98–108. doi:10.31193/ssap.j.issn.2096-6695.2019.02.09. ISSN 2096-6695. S2CID 213889519.
  23. ^ Vliet, Pim van (2017). High returns from low risk der Weg zum eigenen stabilen Aktien-Portfolio. Jan de Koning, FinanzBuch Verlag (1. Auflage ed.). München. ISBN 978-3-95972-020-5. OCLC 964670961.{{cite book}}: CS1 maint: location missing publisher (link)
  24. ^ "Atlas Contact De conservatieve belegger – Pim van Vliet, Jan de Koning : Atlas Contact". www.atlascontact.nl. Retrieved 2022-01-26.
  25. ^ "Livre Un paradoxe financier étonnant - Economica - Finance". www.economica.fr. Retrieved 2022-01-26.
  26. ^ El pequeño libro de los altos rendimientos con bajo riesgo – Pim Van Vliet, Jan de Koning | PlanetadeLibros (in European Spanish).
  27. ^ "The Top 10 Must Read Finance Books of 2017". Finance Monthly | Monthly Finance News Magazine. 28 April 2017. Retrieved 2022-01-26.
  28. ^ "Beter beleggen met de kwantformule van Robeco". Beleggers Belangen. 2018-05-23. Retrieved 2022-01-26.
  29. ^ "Book review: High Returns from Low Risk – looking at financial paradox". FT advisors.
  30. ^ "7 new trading books you need on your bookshelf". Traderlife UK. August 2018.
  31. ^ "High Returns from Low Risk – Van Vliet – a book review and recommendation". Stockopedia. Retrieved 2022-01-26.
  32. ^ FINANCIERO, EL MUNDO. "El pequeño libro de los altos rendimientos con bajo riesgo". EL MUNDO FINANCIERO (in Spanish). Retrieved 2022-01-26.
  33. ^ "Swedroe: Explaining The Low Vol Anomaly". ETF.com.
  34. ^ Online, FOCUS. "Fabelhafte Renditen". FOCUS Online (in German). Retrieved 2022-01-26.
  35. ^ "37 livres sur la bourse classés par niveau pour 2022". MasterBourse (in French). 2022-01-14. Retrieved 2022-01-26.
  36. ^ "《低风险，高回报 一个引人注目的投资悖论 中信出版社》([荷]平·范·弗利特（Pim van Vliet） [荷]杨·德·科宁（Jan de Konin）)【摘要 书评 试读】- 京东图书". item.jd.com. Retrieved 2022-01-26.
  37. ^ "Emerald Literati Awards | Emerald Publishing". www.emeraldgrouppublishing.com. Retrieved 2022-01-27.
  38. ^ "LinkedIn homepage".
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