Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at how mutual fund portfolio managers are compensated.

Quote of the Day

"We see a bubble in the US stock market today, albeit less extravagant than Tesla or the growing swarm of cryptocurrencies. Reasonable observers can disagree, but we believe we are experiencing a tech bubble, based on our relatively rigorous definition of the term."

(Rob Arnott, Shane Shepherd and Bradford Cornell)

Chart of the Day

What does the slope of the yield curve tell us about future changes in rates?