Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at whether taxable investors should shun dividends.

Quote of the Day

"Free cash flow is the only fundamental metric that empirically tracks depreciation-related expenses. Unsurprisingly, when tested out as a factor, it outperforms other fundamental metrics."

(Patrick O'Shaughnessy)

Chart of the Day

Checking in on the Factor Olympics for the first half of 2019.