Gueorgui S. Konstantinov and Frank J. Fabozzi (2026) The Journal of Portfolio Management 52 ( 3): 48 - 63. When Factors Collide: Mapping Causal Spillovers across Global Asset Networks | Portfolio Management Research Building on the theoretical work of Marcos López de Prado, Alexander Lipton, and Vincent Zoonekynd, who demonstrated that causal factor analysis is necessary for investment efficiency, this article develops a quantitative framework that makes causal factor investi