Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at the woeful performance of day traders.
Quote of the Day
"Financial theory dictates that you do not get paid for diversifiable risks. To be blunt, you are incinerating money if you don’t diversify."(Kris Abdelmessih)
Chart of the Day
How and where stocks trade in the US.
- Some white papers from the past worth a read. (bpsandpieces.com)
- A rundown of some recent research on smart beta including its role in REIT returns. (capitalspectator.com)
- If you want momentum returns, you have to buy momentum, not cap-weighted indices. (factorresearch.com)
- Factor returns were flipped on their heads in Q2. (osam.com)
- Pre-existing relationships matter when it comes to hiring money managers. (privpapers.ssrn.com)
- There's little evidence to show that more secretive hedge funds outperform. (institutionalinvestor.com)
- Credit ETFs have become a primary price discovery mechanism. (spglobal.com)
- Why investors should avoid companies with high 'left tail' risk. (alphaarchitect.com)
- It's hard for investors to not take ESG factors into account these days. (alphaarchitect.com)
- A great example illustrating why securities are not priced in isolation. (moontowermeta.com)