Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why the low vol anomaly persists.
Quote of the Day
"When deciding between investing all your money now (lump sum) or over time (dollar cost averaging), it is almost always better to invest it now, even on a risk-adjusted basis. "(Nick Maggiulli)
Chart of the Day
Everybody seems to defined EBITDA differently.
- Checking in on the 2019 performance of the Ivy League endowment funds. (markovprocesses.com)
- If measured in return, how much higher would PE and VC fund volatility rise? (papers.ssrn.com)
- The difference in returns between large growth and small value is historically wide. (alphaarchitect.com)
- How different factors react in different macroeconomic regimes. (alphaarchitect.com)
- A review of 2019 international factor returns. (alphaarchitect.com)
- Why combining trend following and carry strategies makes sense. (mrzepczynski.blogspot.com)
- On building a better 90/60 portfolio using portable beta strategies. (blog.thinknewfound.com)
- Market cap weighted indices are not 'momentum in disguise.' They are something different altogether. (morningstar.com)
- When brokers get involved, bad stuff happens to consumers. (alphaarchitect.com)
- What, if anything, does divestment solve? (papers.ssrn.com)