Tuesdays are all about academic (and practitioner) literature at Abnormal Returns. You can check out last week’s links including a look at why most investment strategies leave taxes out of the equation.

Quote of the Day

"While sales growth may be the largest component of stock returns, it is uncertain and comes with high multiples that are also uncertain and have more room to fall."

(Greg Obenshain)

Chart of the Day

Technology and health care are the two least leveraged sectors in the US.