Monday is all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at eternal disappointment of diversification.
Quote of the Day
"My first thought when reading Bernstein’s take here is just how young investment theory really is in the grand scheme of things. Investors were basically in the Dark Ages until 4-5 decades ago and as he says — things are still evolving."
(Ben Carlson)
Earnings
- Earnings revisions are packing less of a punch for returns. (etf.com)
- What happens when analysts voice outlier opinions. (papers.ssrn.com)
Corporate
- Why companies "invest" in lobbying efforts. (papers.ssrn.com)
- Companies targeted by activists become more innovative. (papers.ssrn.com)
- Passive funds lead to more corporate activism not less. (knowledge.wharton.upenn.edu)
Research links
- Can tactical trendfollowing be a core holding? (blog.thinknewfound.com)
- Can bonds still generate 'crisis alpha' during the next bear market? (blog.alphaarchitect.com)
- How to (quantitatively) build an 'above average' hedge fund. (blogs.cfainstitute.org)
- Long-only active management is overpriced. (mutualfundobserver.com)
- A new four-factor model for CTA funds. (papers.ssrn.com)
- Factor payoffs come at a cost. (thepfengineer.com)
- The study that shows that hospital admissions rise when the stock market falls is fatally flawed. (statisticalideas.blogspot.com)
