Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the efficacy of factors in a microcap universe.

Quote of the Day

"For the average person, the correlation between objective and subjective wealth is around 0.5 or 0.6; a perfect correlation, where subjective wealth exactly matched objective wealth, would be 1."

(Caroline Beaton)