Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the long term effects of activist investor campaigns on company performance.
Chart of the Day
Small cap value is historically cheap relative to Treasuries.
- Corporate bond spreads are now at multi-decade highs. (mailchi.mp)
- There does not appear to be an average or “natural” level of real interest rates around which actual rates fluctuate. (elmfunds.com)
- There's little reason to think that thematic investing outperforms. (factorresearch.com)
- How various factors performed during the March crisis. (morningstar.com)
- How have mutual fund managers in China performed? (papers.ssrn.com)
- Negative changes in tone by CEOs portend tougher times ahead. (institutionalinvestor.com)
- Some helpful research-adjacent reading during these trying times. (twocenturies.com)