Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the macro case for active management.
Quote of the Day
"For long-only “smart beta” and factor portfolios, we often see a focus on what the portfolio holds. While this is important, it is only a piece of the overall picture. Just as important in determining performance relative to a benchmark is what the portfolio does not hold."(Corey Hoffstein)
Chart of the Day
On the relationship between GDP growth and equity factors.