Stock picking is sexy. It’s what gets talked about at cocktail parties and happy hour. There are secret Slack channels dedicated to it. “I got a tip about this company that’s going to be the next Amazon, want to hear about it?” What isn’t getting tossed around too often are braggadocios comments about well-crafted factor exposures within a portfolio. But one of these carries a more significant impact on a portfolio’s return whether you know it or not. We’ll give you a hint, it’s in the title.

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