Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why so many portfolios are so inefficient.
Quote of the Day
"The magic of diversification is that it allows investors to keep more of their money invested in higher risk assets, with commensurately higher expected returns, while lowering the overall risk of the portfolio."
(ReSolve Asset Management)
Momentum
- A momentum investing reading list. (capitalspectator.com)
- Five questions for Wes Gray about momentum. (capitalspectator.com)
- Momentum seems to be useful in market timing factors. (alphaarchitect.com)
Bankers
- Fire sales are never secret: the evidence. (papers.ssrn.com)
- Bankers are no longer risk-seeking. (corpgov.law.harvard.edu)
Boards
- When independent board members leave, take heed. (alphaarchitect.com)
- The statistics point toward the value of more diverse corporate boards. (bloomberg.com)
Research
- Can time solve the issue of high initial valuations? (econompicdata.blogspot.com)
- Want more factor oomph? Focus on small caps. (beta.morningstar.com)
- Share buybacks are improperly demonized. (papers.ssrn.com)
- How short strategies can help with tax efficiency. (cfainstitute.org)
- A look at the structural break in mean reversion for major stock market indices. (factorresearch.com)
- Many people trade likely scam stocks in the hopes of making a quick buck. (qz.com)
