Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the challenges of extracting lessons from past data.

Quote of the Day

"Noise gets between you and the money. It’s a random process, and it’s unlikely to repeat itself exactly the same way. If you fit your model to the noise, you’ll end up with a random model."

(Michael M)