The 1992 Journal of Finance publication of Eugene Fama and Kenneth French’s seminal paper, “The Cross-Section of Expected Stock Returns,” changed the way we thought about the diversification of portfolios. Prior to then, investors had lived in a single-factor world, with market beta as the sole equity factor. Market beta measures the sensitivity of the equity risk of a stock, mutual fund or portfolio relative to the risk of the overall market. Today, there are 600 factors identified in financial literature. How do we know which ones we consider for investment? This presentation will give you some tools to help understand and explain this brave new world of factor-based investing. The presentation is based on the book by Larry Swedroe and Andrew Berkin, "Your Complete Guide to Factor-Based Investing." This session will provide attendees with not only the factor criteria of diversification, but also the factors that meet the criteria. Participants will learn the characteristics of high-quality stocks and time series momentum.