Market Misbehavior with David Keller, CMT

Beating the S&P 500 in 2025: Factor Investing & Capital Efficiency w/ Mike Dickson

Dave Keller, CMT

In the 75th episode of The Market Misbehavior Podcast, host Dave Keller sits down with Mike Dickson, Head of Research & Quantitative Strategies at Horizon Investments, for a deep dive on benchmarks, factor models, and why the path of returns matters as much as the destination. Drawing on his journey from academia to portfolio management, Mike explains how to translate elegant backtests into resilient, real-world strategies—especially in an era when the top 10 names dominate the S&P 500. Recorded 10/28/25.

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The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.