Cole McLemore, a Memphis, Tennessee native, graduated from Mississippi State University in 2019 with a B.S. in Mathematics and a B.B.A. in Finance. Since graduating, Cole has been working in New York City as a residential mortgage analyst for Waterfall Asset Management, a fixed income hedge fund.
The authors' findings affirm prior work illustrating the importance of profitability, size, liquidity, momentum and market returns, although we observe minimal evidence of the importance of investment in capital expenditures.