Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the dangers of using historical returns data in asset allocation.

Quote of the Day

"The problem with historic fund performance is that it is devoid of context and impacted by a blizzard of variables over which the manager has no control."

(Joe Wiggins)

Chart of the Day

Mean reversion has not been a strong performer of late.