Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the cost of obtaining positive skewness.
Quote of the Day
"AQR Capital Management LLC calculates that black swan events need to happen, on average, at least once every decade for tail-risk strategies to break even. The fund defines such an event as a 20% drop in the S&P 500 in one day."(Jon Sindreu and Laurence Fletcher)