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Ronald Hua

First-Principles Finance Institute

202 High Street, 7 FL

boston, MA Massachusetts 02110

United States

Long Crest Capital

400 West 63rd street, APT 2001

New York, NY NY 10069

United States

  • First-Principles Finance Institute

  • Long Crest Capital

SCHOLARLY PAPERS

5

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Top 28,024

in Total Papers Downloads

4,502

TOTAL CITATIONS

1

Scholarly Papers (5)

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1.

Contextual Fundamentals, Models, and Active Management

Number of pages: 44 Posted: 16 Mar 2005
Eric H. Sorensen, Ronald Hua and Edward E. Qian
PanAgora Asset Management, First-Principles Finance Institute and PanAgora Asset Management
Downloads 2,432 (14,764)
Citation 1

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active management, contextual analysis, and equity alpha model

2.

Dynamics of Factor Crowding

Number of pages: 17 Posted: 19 Nov 2024
Ronald Hua and Clare Sun
First-Principles Finance Institute and affiliation not provided to SSRN
Downloads 1,288 (40,118)

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factor crowding, quantitative equity, factor investing, portfolio management, alpha research, second-degree alpha, non-stationarity, factor crashes, arbitrage opportunities, crowding dynamics, risk management, Keynesian Beauty Contest, information ratios, risk-on crash, risk-off crash, traffic analogy, market stability, collective behaviors, volatility, leverage, risk versus uncertainty, quantitative models, factor insurance, historical simulations, systemic risks, forward-looking strategies, investment opportunities

3.

Navigating Factor Crowding: A Research Roadmap

Number of pages: 12 Posted: 19 Nov 2024
Ronald Hua
First-Principles Finance Institute
Downloads 453 (162,966)

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factor crowding, quantitative equity, portfolio management, factor investing, cross-sectional dynamics, temporal dynamics, alpha factors, risk factors, crowding arbitrage, information coefficient, price momentum, book-to-price, liquidity, volatility, mutual fund ownership, market-neutral portfolio, reflexivity, barriers to entry, hedging, factor crashes, arbitrage opportunities, quantitative research, equity benchmarks, alternative datasets

4.

History Repeats Itself? The Non-stationarity Hazard

Number of pages: 19 Posted: 19 Nov 2024
Ronald Hua and Clare Sun
First-Principles Finance Institute and affiliation not provided to SSRN
Downloads 226 (339,185)

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non-stationarity, forecasting framework, investment models, stationarity hazard, risk vs uncertainty, adaptive market hypothesis, information shrinkage, historical estimation, alpha-beta shrinkage, market efficiency, developed markets, emerging markets, conceptual forecasting, mean-variance optimization, factor returns, diversification benefits, cross-validation, predictive modeling, uncertainty quantification, optimal forecasts, market adaptation

5.

Reason Differently: An Introduction to First-Principles Reasoning in Finance

Number of pages: 19 Posted: 19 Feb 2026 Last Revised: 10 Mar 2026
Ronald Hua
First-Principles Finance Institute
Downloads 103 (704,534)

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